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Bank charges and ATM usage

View Poll Results: How often do you withdraw from an ATM
Once a week
20
55.56%
2 times a week
9
25.00%
3 times a week
2
5.56%
4 times a week
1
2.78%
5 times a week
0
0%
6 times a week or more
4
11.11%
Voters: 36. You may not vote on this poll

Bank charges and ATM usage

Old May 29th 2005, 12:02 am
  #1  
ABCDiamond
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Default Bank charges and ATM usage

With all the talk about which bank to use, and the resulting bank charges which normally result from ATM usage, I wondered:

How often do people use an ATM to withdraw cash ?

If you use it less than once a week, please select once a week.


Also, does your bank charge for EFTPOS use, or is that free. If you answer that bit, please tell us which bank it is.

Last edited by ABCDiamond; May 29th 2005 at 12:05 am.
 
Old May 29th 2005, 1:21 am
  #2  
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Default Re: Bank charges and ATM usage

Originally Posted by ABCDiamond
With all the talk about which bank to use, and the resulting bank charges which normally result from ATM usage, I wondered:

How often do people use an ATM to withdraw cash ?

If you use it less than once a week, please select once a week.


Also, does your bank charge for EFTPOS use, or is that free. If you answer that bit, please tell us which bank it is.

I'm with CommBank (use to be with Westpac).
I think I am charged $5/month a/c keeping fees & with that get so many withdrawals/EFTPOS transactions free. I tend to get larger amounts out of the ATM or get cash-out to keep down the extra fees, but they tend to only total a couple of dollars each month anyway.
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Old May 29th 2005, 2:24 am
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Default Re: Bank charges and ATM usage

I used to be really good with limiting my ATM use, but this past month I've been using it about twice a week. I hate having to carry large amounts of cash around - I always end up spending it!

I'm with St George - get 4 free ATM withdrawals p/m at any ATM ('cause they only have 1 St George ATM here in WA!). Unlimited free EFTPOS if I use my card as a "credit" card (it's a Visa debit card), otherwise 10 free EFTPOS transactions. My only problem is that I get so used to always hitting the "credit" button at shops that I always end up forgeting & pressing it at the supermarket, which means I can't get any cashback like I would if I hit the "savings account" button.
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Old May 29th 2005, 4:31 am
  #4  
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Default Re: Bank charges and ATM usage

Between JTL and myself, we never use the ATM more than twice a month. We always get cash back when we go grocery shopping. We're using HSBC and Westpac and there are no charges for EFTPOS.

Mrs JTL
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Old May 29th 2005, 4:36 am
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Default Re: Bank charges and ATM usage

I withdraw as often as possible ... I've learnt my mistake.

GO SUNCORP! btw ...
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Old May 29th 2005, 5:12 am
  #6  
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Default Re: Bank charges and ATM usage

Originally Posted by Deadmeat
I withdraw as often as possible ... I've learnt my mistake.

GO SUNCORP! btw ...

reminds me of an interview I saw some years ago, michael douglas being interviewed by dennis pennis:

DP - "Is there any similarity between your bank account and your sex life?"

MD - "Why's that?"

DP - "When you withdraw do you lose interest?"
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Old May 29th 2005, 5:15 am
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Default Re: Bank charges and ATM usage

Oh, and to answer the OP:

I use ANZ as there are no monthly fees and 6 free withdrawals per month.

Although, I take money out less than once a week and none at all at present as my bank account currently holds the princely sum of 87 cents.
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Old May 29th 2005, 9:54 am
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Default Re: Bank charges and ATM usage

I'm with ANZ and pay $5 per month for unlimited transactions, but in process of swapping to HSBC which pay 4.75% interest on balances over $2,000 and allowed 6 free withdrawals per month form any ATM and all other transactions are free.

So instead of paying $60 per year bank fees should earn about $60 per year from interest payments.

What tipped me over the egde was ANZ saying they would charge me up to $200 to cash a UK bank cheque in pounds and pay it into my account. HSBC will charge me $20 to return cheque to UK and then TT charge (about 25 pounds) to return the funds to my HSBC account.
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Old May 29th 2005, 11:55 pm
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Default Re: Bank charges and ATM usage

Originally Posted by Kiwipaul
What tipped me over the egde was ANZ saying they would charge me up to $200 to cash a UK bank cheque in pounds and pay it into my account. HSBC will charge me $20 to return cheque to UK and then TT charge (about 25 pounds) to return the funds to my HSBC account.
Even that seems excessive ! Bank of Qld charge $7 to cash a UK bank cheque, although it does take about 4 weeks to clear.
 
Old May 30th 2005, 6:34 am
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Default Re: Bank charges and ATM usage

Originally Posted by ABCDiamond
Even that seems excessive ! Bank of Qld charge $7 to cash a UK bank cheque, although it does take about 4 weeks to clear.
I can believe it costs $7 to cash a UK cheque at BOQ and yes they have to send the cheque to the UK to have it cleared, but then the UK bank has to send the funds to Oz and that is where the TT charge comes in (charged by the UK bank) otherwise how does the money get back to Oz??
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Old May 30th 2005, 6:47 am
  #11  
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Default Re: Bank charges and ATM usage

Originally Posted by ABCDiamond
With all the talk about which bank to use, and the resulting bank charges which normally result from ATM usage, I wondered:

How often do people use an ATM to withdraw cash ?

If you use it less than once a week, please select once a week.


Also, does your bank charge for EFTPOS use, or is that free. If you answer that bit, please tell us which bank it is.
I use HSBC Bank Australia, EFTPOS is free, cash-out is free, HSBC ATM withdrawals are free, 5 free non-HSBC ATM withdrawals a month, BPAY is free, internet banking transfers are free and direct debits are free. I pay nothing monthly, except when I stupidly withdraw cash over the counter ($5 a pop).

Peter
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Old May 30th 2005, 6:54 am
  #12  
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Default Re: Bank charges and ATM usage

Originally Posted by Kiwipaul
I can believe it costs $7 to cash a UK cheque at BOQ and yes they have to send the cheque to the UK to have it cleared, but then the UK bank has to send the funds to Oz and that is where the TT charge comes in (charged by the UK bank) otherwise how does the money get back to Oz??
Not sure of the workings, but my sister got a chq from UK, and paid it into her BOQ account and all it cost was $7.
 
Old May 30th 2005, 6:56 am
  #13  
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Default Re: Bank charges and ATM usage

Originally Posted by ptlabs
I use HSBC Bank Australia, EFTPOS is free, cash-out is free, HSBC ATM withdrawals are free, 5 free non-HSBC ATM withdrawals a month, BPAY is free, internet banking transfers are free and direct debits are free. I pay nothing monthly, except when I stupidly withdraw cash over the counter ($5 a pop).

Peter
With the HSBC account, can you get cash over the counter at a Post Office without charge ? I've never needed to do that, but have been told you can.
 
Old May 30th 2005, 7:04 am
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Default Re: Bank charges and ATM usage

Originally Posted by ABCDiamond
With the HSBC account, can you get cash over the counter at a Post Office without charge ? I've never needed to do that, but have been told you can.
I believe you can do that with most banks (through a program called giroPOST or something). Not that it's worthwhile - the queues at the post offices aren't exactly short.

If you do your weekly shopping at Woolies or Coles, just get some cash-out. You won't need to visit any ATM that way.

Peter
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Old May 30th 2005, 8:28 am
  #15  
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Default Re: Bank charges and ATM usage

im with a credit union, but just like a bank, i have on line banking, bpay, visa, eftpos etc.... and its all free.... i get 5 atms per month for free and there are no monthly fees and i can have nothing in the bank if i want to .......

It just cost me $10 to join and its free all of the time, unless i use more than 5 atms, per month, everything else is unlimited, so i pay for everything by visa card and it comes straight out of my account, WIKED!

Laura
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