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You are here: Home Banking & Saving Latest News Customers use shops 'to withdraw cash from bank accounts'

Customers use shops 'to withdraw cash from bank accounts'

Customers use shops 'to withdraw cash from bank accounts'

Shoppers are using the cash-back service at supermarkets to avoid paying bank fees when withdrawing money.

Australian shoppers are avoiding unnecessary fees by getting cash-back from their bank account when they get to the checkout in the supermarket.

This has been confirmed by Woolworths spokesman Luke Schepen, who admitted that customers do not even have to purchase any goods in order to receive their cash, the Herald Sun reported.

By doing this the consumers could avoid paying fees for withdrawing cash from their bank accounts and miss out on paying "foreign" ATM charges.

Jim Cooper, a spokesman for Coles supermarket, said there has been a 15 per cent rise in the number of people doing this since 2007.

Banks could be alerted to the news and Choice spokesman Christopher Zinn added those who choose to offer a cash-free withdrawal system could see an increase in custom.

However, people who withdraw money from machines with credit cards should be vigilant after Northern Territory Police revealed last month they were on the lookout for two men believed to have links to a gang who were skimming ATMs.

By James LeyfieldADNFCR-2135-ID-19685100-ADNFCR
Tuesday, 23 March 2010 00:00
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