Group wants to see ATM fees scrapped

Mozo

Tuesday 10 April 2012

Debit card users across Australia continue to be blighted by excessive fees when trying to gain access to their cash via ATM machines.

News Limited recently reported that 40 per cent of all transactions in 2011 were made at "foreign cash points", which is the term used for a machine that is not owned by a person's bank, therefore users are likely to incur a charge.

According to leaders at Financial Counselling Australia, people living in more remote parts of the country are being affected the most.

Indeed, in 2010 the organisation stated that Aboriginal people were spending as much as 20 per cent of their income on ATM fees, with some cash dispensers carrying a charge of $10.

Speaking to ABC News, representative of the organisation Fiona Guthrie said that making cash withdrawals free of charge is the only feasible option.

"If you've got no choice and you're being exploited by excessive fees, ultimately we've got to do something about not having those fees charged in the first place," she was reported as saying.

Have a question about debit cards? Ask the money gurus at Mozo Answers.ADNFCR-1761-ID-801336032-ADNFCR

Group wants to see ATM fees scrapped

Compare today's top debit cards

Back to top