CORR AUSTRALIAN ATM OPERATOR CUSTOMERS SEES BOOST FROM REVISED FEES
Dec 08, 2008 (AsiaPulse via COMTEX) -- (Corrects typo in headline) SYDNEY, Dec 9 Asia Pulse - Automatic teller machine operator Customers Ltd (ASX:CUS) expects revenue to be boosted by changes to fee structures that mean it will no longer have to share ATM fees with banks. The new structure, starting on March 3, and to be enforced by the Reserve Bank of Australia, will mean ATM operators such as Customers will get all the withdrawl fee users are charged, according to chief executive Tim Wildash. Currently, a A$2 (US$1.33) fee charged at a Customers' ATM is shared equally with the account holder's bank. With the reform, the whole A$2 will go to the ATM operator. As part of the change, ATMs will disclose beforehand how much a person is to be charged for a withdrawal. "We're expecting a bit of a drop off in usage as people are shown the fee," Mr Wildash told AAP. "There will still be a significant boost" in the company's revenue, he said. Customers signs contracts with shops, cafes and hotels to have an ATM on their premises. The company currently has 5,500 machines around Australia
CUS Price at posting:
$1.19 Sentiment: None Disclosure: Not Held
