Time to get to know your free ATMs

The Australian Bankers Association (ABA) says that customers will need to know how to locate free ATMs after changes to ATM charging start tomorrow. If customers use an ATM which belongs to another financial institution or company and is not in a network arrangement with their bank, then the customer will pay a fee charged directly by the ATM operator. Depending on which bank they use, they could also face a foreign ATM fee. The reforms come into effect on 3 March 2009.

David Bell, Chief Executive of the ABA, said that "the way to find these ATMs is to call your bank, go online to your banks' websites or by using the SMS ATM locator tools which some banks offer." The ATM operator must disclose on the screen the amount it will cost the customer to use the machine.