Industry reform

As part of the banking industry, ATMs are subject to reform mandated by the Reserve Bank of Australia.

Here we keep you in the loop with any changes.

ATM fee change 'direct charging'

In March 2009, the Reserve Bank of Australia initiated a banking reform called 'direct charging', requiring the fee for using an ATM to be displayed during the transaction.

Previously, consumers did not necessarily know how much they would be charged for using a foreign ATM - one not owned by their bank - until receiving their monthly account statement.

The reform was not about banks or independent ATM providers hiking their ATM fees. Instead, it has made the process of using a foreign ATM more transparent and open, so consumers know how much they will be charged before the transaction and can choose to opt out without incurring a fee.

The Reserve Bank initiated the reform to promote more competition and efficiency. Find out more information here.