ATM charges

I was hit with a $2 charge for using an ANZ ATM the other day. Ouch. Now, I know if you use a 'foreign' (meaning not linked to YOUR bank) ATM, then your bank will usually charge you a fee for doing so.

However, I bank with HSBC. HSBC have very few ATMs, so their customers may use another bank's ATMs a certain number of times per month without incurring any charge from HSBC. Make sense? But due to recent changes to ATM fee reform, I'll now get hit with a charge every time I access my account through a 'foreign' ATM, but this charge is NOT from my
own bank.

This charge,
called the ATM owner fee, is from the bank whose ATM I use, .


Moral of this story?

  • Make sure you know where the ATMs are that you can use with no fees being charged. That usually means ATMs affiliated with your bank.
  • Know how many times a month you can use them without being charged.
  • Check your bank statements to make sure your bank is not charging you when it shouldn't.
And check this easy to read link on ATM Fee Reform so you know how you're being charged.

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