Aussies are shunning 'foreign ATMs'

By Mozo ·

Aussies are being increasingly selective when searching for an ATM machine, a new Reserve Bank of Australia (RBA) study has found.

The organisation discovered that debit card holders are willing to go out of their way to find a machine that will not charge them.

In 2009, the RBA outlawed excessive charges issued by banks when people use their cards at a "foreign ATM".

The fees were handed out when banks had to deal with rival companies following the use of a card in one of their own machines.

However, three years have passed and many institutions still issue a direct charge for non-customers, which is typically $2 per transaction.

Before the rule changes were introduced, foreign ATM withdrawals accounted for 50 per cent of all transactions, but this has since fallen to just 40 per cent.

With money being so tight for a lot of Australians at the moment, it is hardly surprising that people are shunning machines that charge them to access their own funds.

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