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BANK customers will be stung by up to $200 million a year in extra ATM fees.
This comes after four of the five major banks admitted they will charge customers for using rival companies' ATMs.
The move comes despite warnings from the Reserve Bank, which said banks would have no case for levying the fees after the new rules took effect.
The decision means bank customers will be stung for two sets of fees every time they use a rival cash machine - once from the ATM owner and again by their own bank.
In addition, from March 3, customers will be charged separately for balance inquiries and cash withdrawals.
That means that if the customer checks their balance first and then elects to withdraw cash, they will be charged for both transactions and hit with fees totalling up to $5 for a single visit to the ATM.