big write up in sundays smh, page-6

Thanks for that info pickup.
Its an important issue as it not only affects us as shareholders, but also as ATM users. I’ve read a bit of the ABA proposal (RBA website) and it seems that when we use an atm in the future, the cost of the transaction (the direct charge) will appear on the screen – so you won’t have to go through your statements to determine how much it has cost you. I think the user’s bank will then recover its costs by also charging the user. This will result in more transparency and its in the interests of both to price reasonably. Banks will either seek to punish their customers for not using their bank’s atms, or they will seek to attract customers by subsidising these costs.