Moves afoot to cut ATM fees

One in three Australians travels overseas every year, and many get stung with excessive transaction costs when accessing money. International ATM fees range from $2 to $5 per withdrawal to access your own money - while credit card purchases attract a transaction fee of between 2 to 3 per cent. Now one bank is scrapping those charges - but there is a catch.

A woman uses an ATM cash point machine at a branch of the Bankia bank in Madrid Source: AP