Eftpos cheaper than ATMs for Cash out

Recent figures indicate that consumers are turning to eftpos cash out rather than ATM withdrawals. Average ATM withdrawal fees rose last year when the Reserve bank began regulating ATM interchange fees and introduced direct charging to the user.

Shoppers are using eftpos to take out cash at the checkout instead for free. Consumers are also continuing to choose debit over credit transactions, indicting a long term trend to debit Visa and MasterCard and away from credit cards.

Source: Herald Sun