ATM Direct Charging
As part of the Reserve Bank’s new direct charging system scheduled to commence from 3 March 2009 you will be charged a fee to use non-credit union ATMs.
How does it work?
Under the new system, the owner of the individual ATM is free to charge a fee to people who use their ATMs but don’t bank with them. However, this fee must be disclosed before you transact giving you the option to cancel the ATM transaction before you are charged the fee. From March 2009 we will have no control over the charges being levied by other ATM providers, if you use a non-credit union ATM to withdraw $50 for example, your account will be debited $50 plus the fee charged by the ATM owner. However, as a valued Credit Union member you dont have to worry, you still have access to over 1,300 fee friendly ATMs across the country through the Rediteller and rediATM network. These ATMs are owned and operated by credit unions meaning you won’t pay the extra charges. You will be pleased to know this network is set to double in size over the next few years. |
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How can you avoid this fee?
When you use the rediATM network, the cost of your transaction will be deducted from your Fee Allowance. Using the rediATM network is your best option to minimise costs. If you use a non-credit union ATM the fee is not included in your Fee Allowance and therefore you will be charged their fee directly.
Another option is to withdraw cash using EFTPOS when you make a purchase as the cost of an EFTPOS transaction is included in your Fee Allowance.
ATM Fee Reform Information from the Australian Payments Clearing Association (APCA) website
