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>among the four big banks, which provides stability I suppose "stability" is one upside of a government supported quasi-monopoly. Australian banks are an abso
by gd1 12y ago
>among the four big banks, which provides stability
I suppose "stability" is one upside of a government supported quasi-monopoly. Australian banks are an absolute disgrace. I say that as an Australian who returns home from time to time. Charging $2.50 to withdraw money from an ATM?? They get away with gouging customers in ways that simply couldn't happen in the UK or US.
- quink 12y ago1. Pervasive cashless transactions, years ahead of the US or even the UK means that the need for ATMs is minute. I have withdrawn a total of $290 in 2014 (so far, but we're in December now). $1750 in 2012, $510 in 2013 and now $290. Everything else is contactless/chip/electronic transfers. 2. Only if you use an ATM not run by your bank or not in your bank's network. There's near enough always going to be a cluster of four ATMs corresponding to the four big banks in any area, at least one of which will be free to withdraw from. 3. Get an account with ING Direct and they will refund you any ATM fees, even those charged by other companies. Disgrace? Please.
- gd1 12y ago>Pervasive cashless transactions, years ahead of ... even the UK I've shuttled back and forth between the two countries for seven years now, and I can tell you, unequivocally, that you're speaking out of your bumhole.
- quink 12y agoWith a few minutes of Googling, not even per capita or anything: Visa PayWave transactions in Australia, in July 2014: 58 million All contactless transactions in the UK, in September 2014: 32 million And with ING Direct offering 2% cashback (and some banks doing a promotional 5%) on all contactless transactions under $100 things are good. And in the UK contactless is limited to less than A$40, while in Australia it's A$100.