Need a bank recomendation.

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GeoffH
Posted
Posted
14 hours ago, hk blues said:

Sure...but it's a local account!  I needed to withdraw a large amount last Sunday and it cost me 2 San Migs!

ETA - Maybe I'm just not used to paying for ATM's as I never had to in Hong Kong or in the UK.

It's only in the last few years that the Aussie government pressured? legislated?  (not sure which) a 'fee free between major financial institutions' arrangement, before that we had to pay AUD $2 (about 75 peso) for each transaction if you used other than your own banks ATM machine.

Even now the arrangement doesn't cover independent machines and if you stop at a highway (or freeway/motorway) gas station chances are the ATM machine will charge a fee (normally $2).

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BrettGC
Posted
Posted
2 minutes ago, GeoffH said:

It's only in the last few years that the Aussie government pressured? legislated?  (not sure which) a 'fee free between major financial institutions' arrangement, before that we had to pay AUD $2 (about 75 peso) for each transaction if you used other than your own banks ATM machine.

Even now the arrangement doesn't cover independent machines and if you stop at a highway (or freeway/motorway) gas station chances are the ATM machine will charge a fee (normally $2).

It was one of the things that came out of the banking royal commission; fees for no reason were basically made illegal. 

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