Aussie banks criticized for ATM-fee hikes

Aussie banks criticized for ATM-fee hikes
Tags: Asia, Australia & Pacific, Bank / Credit Union, North America, Other, Transaction Processing
January 17, 2008

Brisbane Times: Australian consumer group Choice has branded recent moves by two major Aussie banks to increase ATM-withdrawal fees as "unfair." The fee hikes, which have come just eight months before the major banks were to scrap interchange fees altogether, have prompted accusations of opportunism. Plans were announced by the Reserve Bank of Australia last year, with the support of the Australian Bankers' Association, to abolish interchange fees. But in a blow to the reform process, the association wants the changes delayed until March 2009.