Banning ATM fees

Bank ATM fees increase competition and leave more people better off, writes Justin Simon.

Bob Brown has recently released a policy which calls for the banning of ATM fees for all banks (but not for credit unions, independent ATM operators or the like). He cited such problems as banks already making enough profit and Australians being slugged with more bank fees than our UK counterparts (who have no bank ATM fees). These are both true in a semantic sense, but a more thorough analysis vindicates the free market position.