Moves afoot to cut ATM fees for Australians overseas

One in three Australians travels overseas every year, and many get stung with excessive transaction costs when accessing money. Image: An ATM cash point machine at a branch of the Bankia bank in Madrid, Spain (AAP)

'ATM cash point machine' sa bangko ng Bankia sa Madrid, Spain Source: AAP

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.

Ricardo Goncalves reports.