With the new ‘Direct Charging’ model coming into effect for ATMs in Australia on 3rd March 2009, ATM Fee Tracker plans to keep the banks honest and provide some transparency for consumers.
The purpose of the ATM Fee Tracker website is to track the standard fees to be charged by the various ATM providers, which include banks, credit unions and independent operators. The site will also look at the disloyalty charges which a number of banks have indicated they will be charging. We will also take reader submissions of unusual or high fees they are charged (or almost charged because they cancel the transaction to go elsewhere….that is if they are the savvy ones who watch the site).
It’s 11:30PM on Friday night and you’re in a nightclub or down the pub with your mates. “It’s your round”, says one of the boys. You only have $15 left in your pocket (it’s been a big night). You walk up to the ATM next to the ciggy machine and proceed to ask for $50 out. That should last a couple more rounds. Suddenly, the screen flashes up with, “This transaction will cost you $5.00?. You go ahead with the transaction without a thought because there is no other option and you don’t want to disappoint the boys. After six nights like this over the month you could see $30 in direct charge fees for using pub ATMs and your bank has charged you another $12 for being disloyal (but what is the price of disloyalty to your mates). This is an example of what you may face as of 3rd March 2009. Continue reading “iCASH To Cash In For Pubs and Clubs”
Keep an eye on the new site, atmfeetracker.com, and help us keep those banking fat-cats honest. Don’t forget to bookmark it.