ATM Direct Charging
ATM Direct charging commences on the 3 March 2009 and impacts the way all Australian use ATM's to withdraw cash.
Landmark has prepared some explanations of the ATM Reforms and how it may impact you.
Click here for more information
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This general advice is provided by Landmark Operations Limited ABN 73 008 743 217 (AFSL 247332) (Landmark) and relates to unsecured deposit notes and associated payment facilities issued by Landmark. This information does not take account of your objectives, financial situation or needs. You should consider the appropriateness of this advice, read the current Prospectus and combined Financial Services Guide/ Product Disclosure Statement dated 19 February, 2009 (Prospectus No. 8) for this product available from your local Landmark outlet and complete the application form in Prospectus No. 8 if you wish to acquire unsecured deposit notes. ASIC requires us to advise that you risk losing some or all of your principal investment when subscribing to unsecured deposit notes, which are not a bank deposit. For an explanation of our credit rating please refer to page 29 of Prospectus (No. 8).
ATM Direct Charging
What is changing?
The Reserve Bank of Australia together with finance industry is changing the way you’re charged for using ATMs than don’t belong to your financial institution.
From 3 March 2009, each time you use an ATM in Australia belonging to another ATM owner, once you’ve entered your PIN, the ATM will display the direct charge.
You’ll then have the option to:
- agree to the charge and continue the transaction
- Cancel the transaction without incurring the fee.
For Landmark Debit Card holders these changes mean that there will be two different types of fees that you may be charged when performing a withdrawal, cash advance or balance enquiry at an ATM:
- ATM Owner Fees (also called Direct charge fees)
- Landmark’s ATM Fees
Click here to view Landmark’s ATM Fees
More information on:
Landmark Debit Card
RBA Direct Charging Announcement
ATM Fees
To ensure Landmark clients continue to have wide access to ATMs throughout Australia, Landmark has made the following arrangements:
- Transactions made through the Westpac ATM network will be direct charge free (No ATM Owner Fee will apply)
- Transactions not made through the Westpac ATM network will incur direct charge fees.(ATM Owner Fees will apply)
Landmark may charge you the following fees for using an ATM within Australia.
Landmark’s ATM Fees from 1 March 2009
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Cheque & Call Investment Accounts |
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ATM Balance Enquiry (Australia Only) |
$0.50 |
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plus any ATM owner fee |
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ATM Cash Withdrawal (Australia Only) |
$0.50 |
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plus any ATM owner fee |
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Flat Fee, Lifestyle & Community Accounts |
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ATM Balance Enquiry (Australia Only) |
$0.00 |
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plus any ATM owner fee |
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ATM Cash Withdrawal (Australia Only) |
$0.00 |
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plus any ATM owner fee |
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ATM Owner Fee
ATM Owners will be required to clearly disclose their fees prior to you making an ATM Cash Withdrawal, balance enquiry or other transaction. This ATM Owner Fee is expected to be in the range of $1.50-$2.50
More information:
View a full schedule of Landmarks Account Fees (PDF 261kB)
Hints on how to manage ATM Fees
ATM Direct Charging will have a significant impact on the way you perform your day-to-day transactions.
This means you may need to change some of your behaviours to avoid incurring ATM Owner fees, when using your Landmark Debit Card.
Here are some ways you can help manage your ATM fees:
- Use one of 1,700 CueCard branded ATM whenever you can, to avoid the ATM owner fees. Check here for ATM locations
- Limit your usage of non-CueCard ATMs.
- Withdraw extra cash when you use EFTPOS
- Arrange access Finance Online Plus to check your account balance by internet or by phone
Minimising ATM Owner Fees
Landmark’s Card Provider has signed an agreement with Westpac to allow Landmark’s customers to transact on Westpac’s ATM Network
This means when your transact at a Westpac ATM, you will not incur the ATM Owner fee
How to identify a partner Westpac ATM
The Cue Card Logo, will clearly be displayed at these ATMs.
To locate your nearest Westpac ATM visit: http://www.nowwhereroute.com/Westpac/LocateUs/Australia/default.aspx
or send an SMS with your town and state to 19 WBC ATM (19 922 286)
