interchange is the devil child of the big 4 banks who decided...

interchange is the devil child of the big 4 banks who decided that any transactions vis eftpos, atm, credit card, charge card etc would need to go through one of them first. Thankfully, the RBA is seeing the light, and because the big 4 cant come up with an alternative system that provides a more level playing field for everyone else, the RBA are going to force their hand and allow direct charging. I notice that NAB joined WBC in putting their foreign ATM charges up to $2 last month. Soon the others will follow suit, and this will allow the CUS and Cashcards of this world to up their fees aswell. Come the great day though, when direct charging comes in and we dont need to pay another bank for the right to do business!!!