Newsletter

ATM Newsletter & National Trends…No 1Issue No1 SURCHARGING
1 Surcharge:
As of the 3 rd of March 2009 the RBA has mandated that all ATM’s in Australia will have a Surcharge (Direct Charge) applied to every transaction.
The reason for this was to stop users of the ATM from having unknown fees behind the transaction known as interchange or Bank fees and to make every transaction fee transparent and up front, and promote competition in the ATM industry.
This has now been done and the Interchange fee that was in use for more than 20 years has been scrapped, and replaced with the Surcharge (Direct Charge) now in use, as this now allows the user to accept a 1 time up front fee every time they use the ATM, or they can reject this fee and not use the ATM at no cost to them.

 

Issue No 2 ATM’s in Gaming Venues
2 ATM’s in Gaming Venues:
The other point that needs addressing on an urgent basis is the proposed ban on ATM’s in gaming venues. This is proposed by a Sth Australian Senator, and WILL be introduced as a private members bill.
We obviously can not say what this legislation will state however if a venue has say a Seven Year contract, we cannot foresee a situation where the ATM could be removed before the expiry of a legal and binding contract, and it would cost hundreds of millions of dollars.

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