The Australian Competition and Consumer Commission has granted interim authorisation to a number of banks and ATM suppliers to enable them to provide fee free withdrawals and balance transactions at 76 currently identified ATMs across a range of very remote Indigenous communities.
"Interim authorisation will enable the banks and ATM suppliers to develop the systems and implement the changes necessary to be in a position to provide certain fee-free ATM services from 1 December 2012," ACCC chairman Rod Sims said.
"This proposal seeks to address the long standing issue of high ATM fees incurred in some remote Indigenous communities."
The ACCC has invited submissions from interested parties on the substantive application for authorisation. Those submissions close on 26 June 2012. The ACCC will then proceed to publish its draft determination.
The ABA has applied for authorisation on behalf of a number of its member banks and ATM suppliers, seeking statutory protection from court action for conduct that might otherwise raise concerns under the competition provisions of the Competition and Consumer Act 2010.
Further information, including the application and public submissions, can be found on the ACCC's public register at www.accc.gov.au/AuthorisationsRegister.