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This is an information service. By browsing on the website and/or using our search tools, you are asking RateCity to provide you with information about Transaction Accounts from multiple financial institutions. We will try to show you a range of products in response to your request for information. The search results do not include all provider sand may not compare all features relevant to you, for further details refer to our FSCG. The rating shown is only one factor to take into account when considering these products. See the rating methodology We are not a credit provider, and in giving you product information we are not making any suggestion or recommendation to you about a particular credit product. If you decide to apply for a Transaction Account, you will deal directly with a financial institution, and not with RateCity.

ATM Fees

ATM fees are the fees that consumers pay for withdrawing cash from their transaction accounts or for a balance enquiry via an ATM. However, whether they are charged or not and how much they are charged in fees will depend on which ATM they use and which financial institution they are part of.

In March 2009 the Federal Government introduced the ATM fee reform which stated that ATMs must show how much you will be charged in fees for before making a transaction. The consumer can then choose to continue and pay the fee or cancel the transaction and avoid the fee.

Below are some ways that consumers can reduce the amount they are charged in ATM fees:
  • Speak to your transaction account provider and find out if you will be charged to withdraw money from their ATM network.
  • Also find out if you will be charged for withdrawing money via EFTPOS terminals as some EFTPOS terminals are free to use and allow you to withdraw cash for free from major supermarkets and some department stores. Some supermarkets also allow you to use the self-service checkouts to withdraw cash without making a purchase.
  • Think ahead and work out how much money you may require for the whole weekend or the week ahead and withdraw enough money to last.
  • Take the extra time to find an ATM that won???t charge you money, remember every little bit helps.
The table below shows financial institutions that offer no account keeping fees.
See all Transaction Account Articles
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About Transaction Accounts Articles

RateCity provides transaction account news and features, including a range of weekly stories and economic updates. By checking our transaction account news and features daily, you can ensure that you receive up to date, expert commentary on current financial and economic issues. Before you search, compare or apply for the best transaction account for you, help yourself understand the market by reading mortgage news and features at RateCity.