That's a very good point. Some possible explanations (let me know what you think): 1) Banks have healthier competition in the EU? They wouldn't be able to form

That's a very good point. Some possible explanations (let me know what you think): 1) Banks have healthier competition in the EU? They wouldn't be able to form a cartel like they are trying in Australia. 2) Fraud liability is fully borne by the consumer in Europe, whereas Australian banks still have to refund customers? 3) It's a very new change (December), whereas Australian banks have lived with it for a decade or so. Personally I think #1 is sufficient to explain it.