With new research showing consumers are saving on fees for using foreign ATMs our Green Hills Manager Annette Sherman looks at how Greater customers can avoid such fees.
New research by RateCity for The Sunday Telegraph shows Australians are spending less in ATM fees for "foreign" machine transactions than they were three years ago.
Consumers have saved $150 million on ATM fees as the popularity of alternatives such as withdrawing using EFTPOS or transferring money online surged.
Bank customers made 77 million fewer transactions at ATMs not owned by their bank in the past three years (down from 407 million transactions to 330 million). This cut fees paid from $815 million in 2008 to about $660 million last year.
With some ATM owners increasing direct charge fees to $2.50 per transaction it pays to avoid such fees altogether. Use a "foreign" ATM once a week and that's $10.00 of your money gone from your savings each month.
Greater Building Society customers can easily save on foreign ATM fees just by making sure they use a Greater ATM. Another great way to save is by using EFTPOS, getting out cash when you are at the supermarket or service station. Paying bills or giving people money using phone and internet banking is another way to keep your hard earned money in your own pocket.
We love helping our customers to avoid fees wherever possible. We have low, transparent fees as well as fee allowances on savings accounts. Ultimate Home Loan customers receive a fee free Transaction account and Greater Getaways Home Loan customers a savings account free of Greater transaction fees.For more tips on saving on transaction fees generally click here.
We have been increasing our own ATM network by around ten percent each year over the past few years. A new Greater ATM has just been installed in the Hunter suburb of Thornton and another is about to come online in North Orange. This will take the total number of The Greater ATMs to 103.
Remember, you can search for ATMs via ATM locators on The Greater’s website as well as The Greater’s free apps suitable for iphone and android.