ivanovich further to my comments regarding progress report 2 I note you have also mentioned the possibility of a flat fee being charged by the banks. The point of the reform is this: The bankcs aren't allowed to charge for being the gatekeeper. In other words they cannot, repeat cannot charge for the pleasure of owning the client. They are free like anyone else, however, to charge for providing a service. And those services may include 1)Charging for withdrawl from their own ATM's 2)Charging for payment processing if processing is required by a merchant ATM provider. 3)Charging for Bailment if the ATM provider need his machine filled with cash.
To cover off on another comment made recently: Banks disallowing their cards to be used in a merchant ATM. If the banks respond by not allowing their cards to be used in a merchant ATM they are really cutting off their nose to spike their face and the customer will move bank. Apart from that, quite a few banks are now paying CUS and Cashcard to rebrand their machines as bank machines...ever seen NAB machines in Target...Cashcard machines...or BOQ machines in the petrol station...CUS machines. Banks actually pay the merchant ATM providers to put their name on the machines.
No.... banks will not respond by pulling customer access. The only way, and ANZ have worked this out, is to have more machines than the next bank and therefore collect more of the foreign transaction fees....and then tell the market you have more than anyone else, so clients open bank accounts for access to that network.
One of the banks could also buy a network if they really wanted to get ahead of the game....at the right price of course!!
CUS Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
