Quote:
Originally Posted by TrevorW
By the way banks don't own ATM's they lease them and the owners get a take from every transaction we make...
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Yes and no. ATMs in bank branches usually belong to the bank.
ATMs in other places like the standalone ones in shopping centres, pubs and clubs are usually leased and the owner takes a cut from the transaction fee.
Almost every service or maintenance function on an ATM, including refilling the cash drawers, requires a security guard. The guard companies have minimum call-out times so the ATM owner can be looking at well over $100 per call-out even if it only takes a couple of minutes work.
Sure in the city if one ATM is down there will be another one around the corner. That's not true elsewhere, and it can take more than a day to get a service team and guard out to one.
Use you own bank's ATMs whenever possible to minimize any charges.
OK, so no-one is happy paying for a service they think they don't want.
Going back to cash pay packets is not going to happen. It is too expensive in terms of guards, insurance and handling.
You aren't going to give up on your credit/debit cards. They are too convenient.
BPay and PayAnyone mean I haven't written a cheque in ages.
These services from the bank all cost me, but I'm prepared to trade that off for the convenience.
Switch over to a credit union and be one of the owners. My CU has just become a bank so I'll have to see how that pans out.