By Annette Shailer
A number of independent cash-machine operators have quietly increased their ATM fees by up to 25 per cent, according to recent reports.
The article ‘New fees for ATMs hiked on the quiet’ published in The Sunday Telegraph on February 20, reported that three of Australia’s largest independent ATM owners, Cashcard, iCash and Customers Limited, have increased their fees from $2 to $2.50.
According to the article, pub ATMs have been specifically targeted by one of the companies in the ATM fee hike.
One company which has made a stance against the hike is ATM provider, Banktech, which confirmed its CashConnect ATM Network will remain at $2.00 per withdrawal.
“We will not be increasing our ATM fee to $2.50. The standard withdrawal fee across our CashConnect ATM Network will remain at $2.00,” said Banktech managing director, David Glen.
“While ATM operating costs have risen over the last two years it doesn’t justify the 25 percent increase our competitors are imposing on cardholders.
“Banktech recognises that an ATM is first and foremost a valued customer service. We will ensure our CashConnect ATM Network continues to provide a reliable, convenient and competitive ATM service to cardholders using our ATMs."