A costly Convenience !

It's a time worn perennial - people griping about fees when they withdraw cash from an ATM.  In the vast majority of cases, this is simply a lack of understanding of how the system works.  There is no reason that people should have to pay a fee to access their own money - provided they play by the rules.

There is no charge for cash withdrawals from the ATM branded machines belonging to your bank, building society or credit union.   Each one of these institutions usually has a reciprocal arrangement allowing their customers to use other nominated ATM's fee free.

Where many people seem to be confused is in their understanding of the vast array of " fee for profit " ATM's dotted about the city.  Some of these do charge fairly savage fees, and even levy a charge for simply getting an account balance.   They are privately owned and they provide the convenience of being in a handy place - in exchange for that fee for service.  They should only be used for accessing money - as a last resort !

Many people don't seem to know that there is a vast array of merchants who will allow a cash withdrawal without the need to make a purchase at their store.   Both of the main grocery chains - Coles and Woolworths - provide this service, and there must be few suburbs that do not have have their stores centrally located.   Most service stations also provide " cash out " facilities, although many usually require a purchase to access the facility.   Even the average corner shop has an EFTPOS connection - with a range of rules applying.  Often, a ten dollar minimum purchase is required to access EFTPOS and use the cash out facility.

It is not a good idea to make numerous withdrawals of small amounts.   Usually, a limited amount of withdrawals are fee free and while withdrawing from your banks ATM imposes no direct fee, you will find a charge for excess withdrawals above that limit on your bank statement.   It is less costly to have sufficient cash in your wallet or purse to take care of all that days purchases - in preference to an individual transaction to pay for each item.

Avoiding ATM fees is simply a matter of organizing your daily needs and making the necessary withdrawal to cover them from either a store that allows this function, or an ATM that is directly linked to your bank - and is fee free.   Fees will certainly apply for those that opt for convenience and continue to use the privately owned " for profit " ATM network to access cash !