CashConnect not changing its ATM charge
Independent ATM operators have been criticised by consumer groups for recent increases in their charges, with calls on the Government to control prices. But one group, Banktech, has announced that it will leave its charge at A$2.In the past month, Cashcard puts its fee up from a standard $2 to a scale ranging from $2.20 to $2.50, and iCash Payments increased its charge from $2 to $2.40.Customers Limited, the largest non-bank owner of ATMs, steered through fee increases on part of its fleet late last year.Non-bank owners of ATMs have experienced a decline in traffic of about a quarter since the introduction of direct charging two years ago, analysis by MWE Consulting, of Reserve Bank of Australia payments data shows.This decline, along with the rising costs of bailment, security and maintenance, is the reason cited by ATM owners for the increase in fees.A Banktech executive, Paul Stewart, said it was his group's view that increasing charges would be counter-productive. Banktech operates the CashConnect ATM network, which operates 1300 machines in hospitality venues and convenience stores.Stewart said: "We have seen traffic fall. On a like-for-like basis, transaction numbers went down eight or 10 per cent last year. They are stable now."Pricing changes will have an impact on demand. We think there is scope for some price competition in the market."