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Early in the year 2009, ATM users have been warned about the new systems that are being distributed through the state, NSW.  The ATM named Cash pod’s is supported by the company iCash. It was said that they have intentions in placing these ATM’s in different places of the NSW area, clubs and pubs in the upcoming weeks.

This type of ATM allows transactions to be made but with extra transaction costs on the top of taking cash out. They know how to make their own cash and this type of ATM really does the work for them. The ATM allows the owners of the club to adjust the cost of using the ATM per time when cash is taken out. Fee’s would be able to increase such as when you take cash out of the ATM at 7pm, the transaction fee costs you $2.00 as compare to the time you take cash out at 11pm it will charge you up to $5 to $6.

This type of ATM has been targeted at users who are in clubs or pubs and are not willing to leave their location to their banks, banks that doesn’t charge them cash if they use ATM. This will result in the consumers spending a lot more amount of cash in the transactions of a different ATM company.

To avoid using such ATM’s, you would make sure you have enough cash taken out from your own ATM’s or make sure to have enough cash with you before you get into clubs or bars so the cost will be much lower.

Cash Finance take no liability on content shown, please consult your legal and financial adviser before making any financial decision.