things hotting up, page-6

With the ATM reform and from reading the Payments System Reform Progress Report 2 it appears the RBA will tolerate interchange fees if certain conditions are met. However the threat is that if the banks try to gouge..i.e.more than just cost recovery and a small margin the RBA will ban interchange fees all together. I mean isn't this what DC is all about in the first place ? The easier path would be for banks to charge their customers via thier accounts for using foriegn ATM's. Over time there will be cost recovery by the banks but they will be softly, softly in thier approach given the RBA's stance. As TBE pointed out a standard charge will most likely evolve like a EFPOST fee....hopefully something not much more that 7 cents.