hi dion 11, they were mostly talkin of using atm`s while abroad....

hi dion 11, they were mostly talkin of using atm`s while abroad. i find it incredible as well. this is what was stated on page 8 of the smh investor lift out for sunday 5.8.07. quote>
"this means that withdrawing $100 from a foreign atm using a standard debit card could end up costing you $7.50 in fees".
unquote. i mean that is unbeleiveable. but if you need cash urgently, well what can you do. most people want the money and dont even consider the fees.
the article says currently aussie banks charge a flat cash withdrawal fee of $4 to $4.50 now
i needed a $100 to put on a trifecta while i was in a pub a few months ago ago, and i used a foreign atm. talk of fees made me intersted to look up my bank statement and the deal cost me $4
currently CUS only make about .60 cents profit from each transaction now, out of a total "other" bank charge of $1.50. cus atm`s carry out approx 80 million transactions per year now.
cus has the machinery in place by way of sps [strategic payment system] to get more out of the current $1.50 bank charge because of their part ownership in sps with mastercard and bendigo bank. so their .60 cent fee will improve anyway.,when sps take over the transaction switching.
so cus has 4 opportunities to increase profits.
1. amalgamation of newly purchased BOQ. atm`s.
2. migration of all atm`s onto SPS.
3. approval from RBA to increase charges.
4. aiming to have 30,000 to 40,000 atm`s in china
5. its new processing technology [SPS] can be licensed to others, such as credit unions, building societies, and regional banks.
so when i consider those 5 reasons i think customers has a wonderfull growth ability in front of it. most of its costs are fixed so any economies of scale go straight to the bottom line.
its my thinking that, in the future if CUS ever get approval from the rba to charge even half of what is written in the article in the smh, well the share price has the potential to explode upwards.
the share price jumped up first thing this morning[probably on the smh article] but closed down due to the prevailing subdued market conditions.
i brought some more today at 21c