ATM Direct Charging

On March 3, 2009, the way in which all Australian banking customers are charged for using ATMs changed, with direct charging taking effect.

What is ATM direct charging?
ATM direct charging means that if you use an ATM not owned by The Rock, you may be charged directly by that ATM owner for the service, rather than by The Rock, as had previously been the case.

If as a Rock Building Society account holder, you use your Rock card at a "foreign" ATM provided by another bank, building society, credit union or independent provider such as Cashcard, that institution can charge you for using their ATM at the time of the transaction.

Therefore, Rock cardholders should use a Rock ATM wherever possible. Rock cardholders accessing their Rock account at a Rock ATM will not be charged a fee for the transaction. Our ATM fleet is one of the largest of any financial institution in Central Queensland; allowing Rock customers to potentially minimise or eliminate these ATM fees.

Why has this change been made?
The change to the way in which ATM fees are charged follows a review by the Reserve Bank of Australia with the aim of providing greater transparency for customers.

Prior to March 3 2009, fees for using "foreign" ATMs were not visible to cardholders at the time of the transaction and were generally charged at the end of the month, only becoming visible when you received your account statement or updated your passbook . However, as of March 2009, cardholders are able to view the fee charged by the ATM owner on the ATM screen before deciding to proceed with the transaction.

Each financial institution or other ATM owner sets their own ATM fees. Therefore, The Rock has no control over the fees imposed on you when using "foreign" ATMs.

How does the new system work?
If you use your Rock card at an ATM not owned by The Rock, the ATM owner may charge you an upfront fee at the time of the transaction. This fee may be different for each ATM owner or type of transaction and is in no way determined or known by The Rock.

Each time you use an ATM not owned by The Rock, the ATM will display the amount of the direct charge before you enter the transaction. You will be then asked whether you want to continue with the transaction, or whether you want to cancel.

1. If you decide to continue, the ATM owner's fee will be taken out of your account at the time of the transaction. This cost will appear immediately on your account balance.
2. If you decide to cancel, no transaction fee will apply.

What transactions incur a fee?
ATM owners are able to charge "foreign" cardholders for withdrawals and balance enquiries. However, you cannot be charged for any transaction that is declined, unsuccessful or you choose to cancel.

As a Rock cardholder, am I charged to use Rock ATMs?
No - Rock customers who access their account using The Rock ATMs are exempt from ATM transaction fees.

The Rock's growing ATM network now stretches from Cairns in the north to Ormeau in the south, with even more ATMs to be installed across Queensland this year. What's more, in Central Queensland, you have the benefit of access to one of the largest ATM fleets of any financial institution in our region.

How can I minimise fees if I cannot access The Rock's ATM network?
The Rock is continually growing its ATM network. However, if you are unable to access a Rock ATM you can potentially minimise ATM fees by withdrawing extra cash when making EFTPOS purchases; and check account balances or transfer funds via internet or phone banking.

Prior to March 3, 2009 my Rock account was exempt from ATM fees. Will this change?
If your savings account was exempt from The Rock's fee for using ATMs not owned by The Rock, those arrangements have continued. However, under the Direct Charging legislation, The Rock has no control over the fees which may be imposed on you by other ATM owners. As noted above, these will be disclosed to you and deducted by the provider from your account at the time of the transaction.

What will it cost me, as a Rock customer, to use another financial institution's ATM if I do not have an exemption?
As of March 3, 2009 The Rock significantly reduced the processing fee Rock cardholders are charged each time you use an ATM not owned by The Rock from $1.50 to 50 cents. You may, however, be charged by the ATM provider as mentioned above.

However, The Rock has since negotiated significantly reduced ATM transaction fees for its customers who use Westpac's national ATM network, including St George and Bank SA ATMs. Rock customers using their Rock ATM card at any of these ATMs will only incur a total fee of $1.50.

Do the changes affect EFTPOS charges?
No - EFTPOS charges and arrangements are unaffected by the new direct charging arrangements.

For more information regarding ATM direct charging please visit one of the following websites.

APCA
Australian Bankers Association