Yes guys, as I said yesterday the Banks, are taking the hit on...

Yes guys, as I said yesterday the Banks, are taking the hit on no ATM fees to its customers, not TSI. This is a common strategy that has been used by Australian banks many times to entice more customers to open up bank accounts with them. If anything the increased traffic at ATM's that this will have brought will mean more fees for TSI.

The majority of the time, TSI would charge the bank the transaction fee which the bank would then either absorb the cost, or expense it to their customer. The situation at the moment is TSI charges the transaction fee to the bank and now the bank is absorbing that cost to bring in more customers and take advantage of the huge push towards the use of bank accounts.