Banks may charge $10 per withdrawal from ATMs

For the people here who are not in Australia suggesting that we use cheques or not a bank account at all, a few things to note:

1: Cheques are very rarely used in Australia – it kind of went out in the 80’s when EFTPOS came out.

2: Here you need to have a bank account or you cannot get paid – companies will not pay you by cheque.

The ATM fees and general bank fees here are ridiculous, when I was overseas we had fee-free banking and no charge on using ATM’s, Australia needs to look and see what other countries have.

With my current bank account here, its $5 a month just to have the account and $2 to used an ATM and a small amount to use EFTPOS.

Some banks here even charge you for using online banking!

My advice, use EFTPOS and if you need cash get cash out while using EFTPOS. Don’t go near an ATM.

Mikey


[edit on 15/1/2009 by Mikey84]

Originally posted by Phage
reply to post by Chadwickus

 

Believe me, if the message comes up that the transaction will cost me 10 bucks I'm outta there, in a heartbeat. I'm not that lazy.

That's why banks would be stupid to implement it themselves.

Their customers will go elsewhere.

Originally posted by Phage
reply to post by alyosha1981

 

That is too bad. But then, when in the service there are a lot of things you are forced to do that you might not under other circumstances.

Oh yea, it was hard on my finances and only making a measley $1200 a month didn't help out any. The bank thing was bad though I eventually had to close my account at that bank and open another at a diferant bank dut to the excessive overdraft charges. Which I might add were $35.00 per negitive transaction, I'll give you an example: let's say it the end of the month I have a $200 balence I know this and my wife know's this say she takes out $100 for groceries but dosn't tell me because we are "in the field" Then she takes out another $50 for whatever, ok fine I get back in from training and need something lets say food I take out $20 bucks (wich is really $31.00 thinking that I have $169 dollars left I decide to say go ou with the guy's I take out $40 bucks ( wich is really $51.00 ) now the account is severly negitive resulting in 2 or more overdraft charges at $35 a pop plus the overdraft charges for the atm fees which in the given scenario and the number of banks that my overseas transactions went through it actually ends up being like 5 or 6 overdraft fees you do the math.

[edit on 15-1-2009 by alyosha1981]

Originally posted by zazzafrazz
Yep, agree. I've used a credit union for a while, about 13 years. I don't get charged for using a different credit union for transfers or withdrwrals.

Yup. I am a member of a credit union related to the industry I once worked in, but yeah, I use the Federal Credit Union ATMs without a fee because they exist in many locations. Credit unions pay higher interest rates on saves, charge less for loans or cash advances, offer free checks every year (although I've not written a check in 12 years now), free cashier checks and money orders, and many other member benefits. Been a member of one credit union for 29 years now. Heck, you can't even call a regular bank and talk to someone on the phone without first accepting to pay a $1 fee (US BANKS is one example). This deal about the ATMs is no big deal though, I seldom use them except when on vacation and prefer not to carry around a wad of cash while away from home. Normally I just take out what cash I need once every few months, which is very little, and rely on my debit card wherever I go. The only time one really needs cash these days is when they go to buy a bag of weed every once in a while, ha.

Credit unions pay higher interest rates on saves, charge less for loans or cash advances, offer free checks every year Normally I just take out what cash I need once every few months, which is very little, and rely on my debit card wherever I go. The only time one really needs cash these days is when they go to buy a bag of weed every once in a while, ha.


Problem solved people....Credit Unions, eftpos/debit cards...and bags of weeds. Thanks mate!

nuclear
paul
if that is your picture on the avatar you r OLD...best b reasonable 2 match
by just making friends with the person with ALL the toools...they could be as close as NEXT DOOR!!!

reply to post by NuclearPaul


That's crap! Ten bucks per withdrawl? What if I want to draw out my last fifty cents? I'd have to pay the overdraft plus the ten bucks? How's that fair? It's my fifty cents! MINE I TELLS YA! That'll be the day I take all my money out of my account.