ATM fee reforms

From 3 March 2009 financial institution ATM interchange fees (ie fees for using another institution's ATM) will cease.

From that date most ATM's will charge cardholders directly. When a cardholder makes a withdrawal or a balance enquiry at an ATM not owned by their financial institution, the owner of that ATM will charge the cardholder a fee. The fee will be clearly displayed on the ATM screen prior to the transaction and the cardholder will have the opportunity to cancel the transaction if he or she does not wish to pay the fee or believes that an ATM charging a lower fee may be situated nearby.

RBA frequently asked questions

UPDATE:

The Assistant Treasurer, Chris Bowen MP, has announced that the GST law will be changed to ensure that no customers will be charged GST on automatic teller machine transaction fees when ATM owners start charging ATM users directly for withdrawals from 3 March 2009. ATM transactions will be input taxed supplies for all ATM owners.

UPDATE: Draft GST regulations and explanatory statement