DirectCash says it has made cost savings on its Customers ATM business in Australia of C$4.6 million, or seven per cent of the cost base, since taking control in the middle of last year. The Canadian-based bank said on Friday that it expects annual cost savings on staff and other operational items relating to its Australia subsidiary of C$3.1 million.It also said that negotiated per-transaction fee reductions of approximately 50 per cent "on ATM transaction processing costs, representing annual savings in excess of $1.5 million", while extending the term of the contract.DirectCash continues to describe the Australian market as "less mature… where transactions and gross profits per ATM are significantly greater than in the mature Canadian ATM market."