ATM Taskforce – Report on Indigenous ATM Issues

28 February 2011

		

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ATM Taskforce – Report on Indigenous ATM Issues
Overview
On 12 December 2010, the Government announced that the Reserve Bank of Australia and Treasury would establish a joint taskforce to monitor and enhance ATM competition reforms. The taskforce was asked to provide an early report in February 2011 on appropriate action for dealing with ATM issues specifically affecting Australian Indigenous and other remote communities. The taskforce will report in June on the need for further action to enhance ATM competition reforms generally (see Attachment A for the terms of reference). 
A typical consumer in a very remote location spends much more in aggregate on ATM fees than their urban counterpart. In large part, this reflects a lack of alternatives to paying a direct charge at an ATM each time they need to make a balance enquiry or access cash. This is not a new issue, and has been the subject of various reports since the mid-1990s, but the taskforce has been able to shed some light on a number of issues as follows:
•	ATMs are an efficient means of providing a critical service for residents in remote Indigenous communities, who are more reliant on ATMs than other Australians;
•	typically, remote consumers only have access to one independently owned ATM and, therefore, have no alternative to paying direct fees for balance enquiries and cash withdrawals;
•	no evidence was found of excessive direct fees in remote communities as suggested in other recent reports, however, unlike residents in more urban settings, residents in very remote locations do not have free access to ATM services (or even EFTPOS cash-outs); and
•	this is exacerbated by frequent balance enquiries and cash withdrawals in Indigenous communities. This behaviour reflects a lack of both infrastructure and financial literacy, as well as some specific cultural issues facing Indigenous Australians. While efforts to address these particular issues would be helpful, the key problem is that the current access provided by the market is costly for individuals in remote Indigenous communities.
The taskforce notes that more information in some areas would be helpful in order to support the development and implementation of strategies to address the issue. 

I.	The Work of the Taskforce
1.	The taskforce focused on the impact of ATM fees on residents of very remote Indigenous communities (‘remote Indigenous communities’). This reflects specific concerns that have been raised in relation to this issue, most recently in a November 2010 report by the Australian Financial Counselling and Credit Reform Association (AFCCRA) on ATM fees in Indigenous communities. However, the taskforce’s report also deals with broader issues relating to ATM fees across remote communities in Australia more generally. 
2.	The taskforce collected pricing data from ATM providers covering ATMs across Australia (see Attachment B). The taskforce also worked with community groups to survey a selection of stores in remote Indigenous communities regarding ATM facilities. 
3.	In addition to its data collecting activities, the taskforce engaged with: several non-government organisations that provide Indigenous financial counselling services; selected Authorised Deposit-taking Institutions (ADIs) and independent ATM providers that have a significant presence in Indigenous communities; and federal and state government agencies responsible for service provision in remote Indigenous communities (Attachment C). The taskforce reviewed existing reports on the ATM network and access to financial services in remote Indigenous communities (Attachment D). With the assistance of AFCCRA, representatives from the taskforce visited several remote Indigenous communities in central Australia. 
4.	The Department of Families, Housing, Community Services and Indigenous Affairs (FaHCSIA) and the Australian Securities and Investments Commission (ASIC) are responsible for Indigenous policy and consumer protection in the financial sector, respectively. The taskforce worked closely with these two agencies to produce this report. 
5.	The most recent census (2006) identified 1 008 very remote discrete Indigenous communities. Of these, 767 had populations of less than 50 people and only 12 had populations of greater than 1 000 people (for more information see Attachment E). 
II.	What the Taskforce Found
Provision of ATM services
6.	The taskforce identified around 600 ATMs located in postcodes that are in very remote areas of Australia (‘remote ATMs’). Some of these ATMs are located in remote Indigenous communities. 
7.	Nearly 80 per cent of these remote ATMs are owned by independent (non-ADI) ATM providers. Australia has a number of independent providers, with two of these being relatively large players in the ATM market overall. These companies do not offer accounts or other banking services. Their focus is on the commercial provision of ATM services, often in conjunction with business owners, or ADIs that want to have their brands on ATMs but not necessarily own and manage them. Independent owners depend on revenue from direct fees on ATMs.
8.	A customer transacting at their own ADI’s ATM network does so free of charge (although some financial institutions charge their own customers for ATM transactions once they have exceeded a certain threshold in a given month). Transactions at a ‘foreign’ ATM (i.e. not part of a network belonging to the customer’s ADI) are usually charged directly by the ATM owner. A typical direct fee for a cash withdrawal or a balance enquiry is $2.
9.	This direct charging regime has been in operation since March 2009. Previously, independent owners received around $1 for a transaction from the customer’s ADI (via what is known as an interchange fee); this was charged to the customer’s account via a ‘foreign’ transaction fee ($2 was typical), which covered the interchange fee as well as a fee levied by the customer’s own ADI. Under the new regime, customers transacting at a foreign ATM are charged a direct fee, which is often similar in magnitude to that which they were being charged under the old regime. Two of the key differences now are that the customer sees the direct fee upfront (with the option to cancel the transaction at no cost) and the ATM owner receives this entire fee, changing the business case around ATM provision.
10.	Allowing ATM owners to determine and recoup the full charge levied on customers for a transaction has enabled independent operators to expand their networks to sites that previously were unprofitable and increase the profitability of existing ATMs. Indeed, there is evidence that the availability of ATMs in remote locations has improved since these reforms. In particular, over 80 ATMs were installed in very remote locations in 2009‑10. This compares with an average of around 50 new remote ATMs in each of the previous three financial years. 
11.	Residents of remote Indigenous communities are unlikely to have direct access to ATMs operated by the ADIs that hold their accounts. They are more likely to rely on ATMs owned by independent providers (or an ADI that is not their own). This means that they have less capacity than other Australians to avoid ATM fees through behavioural change. (See Attachment E for a brief description of the evolution of current financial arrangements relevant to remote Indigenous communities.) 
12.	In the absence of an ADI presence in remote Indigenous communities, independent ATM network operators play a key role in the provision of ATM services to these locations. In part this is likely to reflect the ability of independent owners to extract more revenue from every transaction (unlike ADIs, which provide free transactions to their own customers), and therefore are able to provide services in more costly locations. It may also reflect the fact that independent owners have a business model based on relatively simple machines, which can be maintained and serviced to a large degree by store managers themselves. 
13.	There is significant variation in contractual arrangements between ATM providers and stores. However, stores in very remote locations are typically responsible for stocking the machines with cash and paper for receipts, paying for insurance and communications and in many instances conducting minor repairs with remote support from providers; providers send technicians to stores when more major repairs are needed. In some cases, if an ATM fails to yield a minimum level of transactions, the store may be required to compensate the network provider. In such cases, the store will normally share in revenue generated by transactions above the minimum level. These types of arrangements provide an incentive for stores to enter into contracts only if they judge that there will be sufficient demand for ATM services. It also provides an incentive for stores to encourage customers to use ATMs. At the same time, stores often prefer customers to use ATMs rather than EFTPOS as it reduces the call on their own time and resources. 
14.	In addition to providing ATM services, many stores also provide access to EFTPOS, including the ability to take cash out after purchasing goods. (However, it is worth noting that the cost to stores of providing cash via EFTPOS can be more than it is via the ATM in the store; see below for further discussion of this.) Stores are, therefore, a key point of access to financial services in remote Indigenous communities.
15.	Obtaining and handling cash to be used in the till and the ATM in the store can impose a sizeable burden on stores in terms of both time and money. Many stores organise for their ADI to package up cash so that it can be flown in on the weekly mail planes. In addition to processing costs (levied by the ADI), stores must cover the cost of insurance and freight. They also have to store the cash securely on their premises. The taskforce was told of many cases of stores being short of cash for extended periods of time, forcing them to impose strict limits on ATM withdrawals and EFTPOS cash-outs.
Fees for ATM services
16.	Direct fees for an ATM are ultimately set by the ATM owner, although stores may have the capacity to influence fees. Contracts between independent ATM providers and stores will set out these fees as well as risk-sharing arrangements that compensate owners when transaction volumes are low and provide a share of ATM revenue to stores when transaction volumes are high. 
17.	The taskforce surveyed all ATM owners (independents and ADIs) to determine the level of direct fees charged at every ATM around Australia. We examined the level of fees that apply to both balance enquiries and cash withdrawals. 
18.	The taskforce found that direct fees for ATMs in remote Indigenous communities are generally similar to those in metropolitan areas. We found no recent evidence of exceptionally high fees that had been claimed to apply at a few ATMs. Three ATMs were found in remote communities that charge $3.00 for cash withdrawals. Most ATMs have fees of $2.00 or less for withdrawals, while over 99 per cent charge $2.50 or less. The vast majority of ATMs in remote communities charge $2.00 for a balance enquiry, with the highest charge being $2.85. 
19.	Stores often charge a fee for the provision of cash as part of an EFTPOS transaction. The taskforce’s survey of stores in remote Indigenous communities suggested that these are typically $2. Fees of up to $15 were reported to the taskforce (although the taskforce has not been able to verify these claims). Stores may decide to impose such fees to encourage the use of their ATM. This may partly reflect the fact that stores have an incentive to increase ATM fee revenue where they share in that revenue. However, the taskforce was told by a number of store managers that providing cash-out at EFTPOS was not ideal for a number of reasons. First, it imposes an additional burden to stock tills with sufficient cash and to keep track of large cash flows. Second, often customers did not know their account balance, requiring repeated efforts to ‘test’ for sufficient funds.
Costs, revenue and profits
20.	The taskforce collected some data on revenues and costs for selected independent ATMs located in stores in very remote locations and compared this to similar types of ATMs in urban settings. The arrangements in these types of stores (i.e. obligations of the stores to maintain, stock and insure these machines, and to provide telecommunications links), mean that the costs borne by the ATM owner might be less than for other ATM locations. Working in the other direction, the evidence presented to the taskforce suggests that the costs for the ATM provider of installing and maintaining machines in very remote locations are quite a bit higher on average than in urban settings.
21.	These same selected ATMs in very remote locations appear to generate more revenue per machine than similar machines in more urban settings on average. Much of this reflects a relatively high number of balance enquiries (see below), but the number of cash withdrawals per machine is also somewhat higher.
Usage patterns
22.	Accessing a bank account is essential for an individual to manage their financial affairs and day-to-day activities in a market economy. ATMs are especially important in remote Indigenous communities because they provide efficient, unassisted access to cash and balance enquiries. Store managers, who are responsible for establishing contracts to install ATMs on their premises, note that despite the considerable burdens of maintaining the machines, overall they help them to provide an adequate service to their customers. ATMs also reduce demands on store managers’ time and resources compared with providing cash-outs via EFTPOS.
23.	The taskforce heard evidence that residents of remote Indigenous communities make frequent use of ATMs for both balance enquiries and small cash withdrawals. In particular, information from selected independent ATMs in remote Indigenous communities showed many more balance enquiries relative to withdrawals than the Australian average. 
24.	The taskforce heard that the high demand for balance enquiries is driven by four factors: 
•	first, the timing of payments into and out of accounts is often uncertain. For Centrelink payments, this applies to emergency and irregular (or unscheduled) payments as well as to regular scheduled payments. ADIs commit to making scheduled Centrelink payments available to customers no later than a specified time on a specified day. However, often ADIs are able to credit accounts earlier than this. Once a customer who is desperate for funds becomes aware of this possibility, they have an incentive to look for their funds ahead of the scheduled time in the future. The timing of any direct debit payments (e.g. for regular utility bills) is also uncertain in many cases, prompting customers to make balance enquiries before withdrawing cash so as to leave sufficient funds in their accounts;
•	second, uncertainty about account balances can also be due to failure to recall balances or to obtain and keep ATM receipts. Sharing of ATM cards among family members can exacerbate this problem;
•	third, financial counsellors encourage balance enquiries as part of efforts to improve financial literacy and management. The idea here is to help ensure that money lasts until the next pay day and to avoid fees that can be incurred by accidentally overdrawing an account (where this facility exists); and
•	fourth, balance enquiries ahead of using EFTPOS facilities helps to avoid the embarrassment and inconvenience of needing the checkout operator to repeatedly test of balances and/or return goods to the shelf if there are insufficient funds in the account.
25.	The taskforce heard evidence that at some stores, managers might ‘ban’ residents from the store if they thought they were undertaking excessive balance enquiries in anticipation of receiving funds on, or just prior to, ‘pay days’. We heard evidence of a store manager and other local service providers in one community, advising residents to make withdrawals on pay days to test for the availability of funds in preference to balance enquiries. This strategy makes sense since a failed withdrawal due to insufficient funds does not lead to a fee being levied; although it does not work in the case of an account with an overdraft facility.
26.	The taskforce has also heard evidence of three factors that drive demand for frequent small cash withdrawals:
•	first, there are limitations on people’s capacity to store food (which leads to frequent small purchases rather than a single weekly shop). 
•	second, cultural issues – particularly the problem of humbug (an obligation to provide money and goods to relatives, sometimes under threat of violence) – can encourage people not to hold cash on their person; and
•	third, relatively low withdrawal limits (at ATMs and EFTPOS) are typically applied if cash is in short supply. 
27.	These factors, which are prevalent in remote Indigenous communities, have been identified in previous reports and are consistent with evidence from independent ATM providers of relatively high average revenues for selected ATMs in selected remote locations. 
28.	The taskforce also found that residents of remote Indigenous communities are more reliant on ATMs than other Australians because of their lack of access to alternative means to make balance enquiries or cash withdrawals. 
•	They appear to have less ability to use the telephone or internet to make balance enquiries free of charge. Despite government programs to increase access to telecommunications in remote Indigenous communities, these alternatives may be unavailable or too costly. We were also told that some residents are reluctant or unable to use these channels even where they are available and, therefore, prefer to use ATMs. This may reflect a lack of financial and/or English literacy as well as concerns over privacy. 
•	They also have less ability to make cash withdrawals from ADI branches or Australia Post outlets (as these tend to be located in larger population centres). Also, it may not be possible for individuals to access cash more cheaply (if at all) as part of an EFTPOS transaction (as store owners may impose a fee on EFTPOS cash-out to encourage customers to use the ATM, thereby reducing the burden of providing a lot of cash out of the till). 
29.	As previous reports have noted, frequent use of ‘foreign’ ATMs means that direct charges can account for a significant proportion of the incomes of residents of remote Indigenous communities. The level of the fee for each balance enquiry and each cash withdrawal is no higher than in other areas, but compared with most Australians, customers in remote Indigenous communities always face a fee and make relatively frequent ATM transactions. 
Existing programs
30.	There is a broad range of Government, community and industry programs in place that are relevant to many of the factors that contribute to the high direct ATM fee burden (Attachment F). In particular, these programs address telecommunications, financial literacy, access to banking services and food storage. However, these programs have not specifically been designed to address the problems associated with ATM use. 
31.	There is potential to extend these programs, and better coordinate the efforts of various government agencies, NGOs, and financial institutions, to support the delivery of services and education regarding ATM usage. 
32.	As part of the National Indigenous Money Management Agenda’s (NIMMA) Banking for the Future initiative, ATM providers and Reconciliation Australia agreed to explore ways to lower the cost to access services via ATMs in remote areas. While the taskforce found little evidence of widespread progress in relation to this commitment, it noted that one large independent ATM provider recently announced a substantial reduction in balance enquiry fees (of up to 50 per cent to $1.25 at a number of its machines).
33.	The Indigenous Banking Reference Group (which includes financial institutions) was asked to consider the ATM fee issue in the two years following the NIMMA report (2008 and 2009). To date, the response by the ADIs has focussed on financial literacy initiatives and community specific responses. 
34.	The Australian Bankers Association advised the taskforce that some banks have introduced special subsidies to reduce ATM fees in remote areas. For example, one of the major banks charges $0.50 for withdrawals and $0.25 for balance enquiries at one ATM located at the Indigenous community of Tangentyere Council (in Alice Springs). However, these arrangements are not available to most communities.
35.	A full face-to-face banking service is being provided by the Traditional Credit Union (TCU), which has branches in a number of Indigenous communities in the Northern Territory. Customers can make unlimited free transactions within TCU branches, which are staffed by local employees with skills in multiple local languages. A number of larger banks work closely to support TCU, including by providing access to their ATM networks free of direct charges (though TCU charges its customers ATM and EFTPOS cash-out fees to help recoup some of the costs of running its branch network).
36.	In summary, while there are a number of programs and initiatives that attempt to address low financial literacy and high costs, they are not sufficient to address the problem of residents of remote Indigenous communities spending significant proportions of their incomes on ATM fees. They could, however, be better co-ordinated to support a more comprehensive solution.
III.	Strategies for Change
37.	The taskforce was asked to report on appropriate action for dealing with ATM issues affecting remote Indigenous and other communities. 
38.	The potential strategies identified by the taskforce focus on reducing the impact of ATM fees on residents of remote Indigenous communities. We consider that this should be a priority as ATM usage in these communities is driven by factors that are not present (at least to the same degree) in other remote parts of the country, including: problems of financial and English literacy; problems of humbug; limited food storage; and other cultural factors that constrain the capacity to use alternative channels for accessing financial services. In addition, in remote areas incomes tend to be lower for Indigenous Australians than for non-Indigenous Australians.
39.	The taskforce is mindful that some options, by themselves, may adversely affect the supply of ATMs in remote Indigenous communities or result in higher fees per transaction. This is an important consideration because ATMs provide many communities with unassisted access to cash and balance enquiries, in a manner that is easy and effective, and which is preferred by many merchants given the pressures they face in acting as bankers through their tills. 
40.	In the absence of ATMs, there is a risk that residents of Indigenous communities would experience more difficulties in accessing financial services (including higher travel costs). There is also a risk that any loss of ATM services would be accompanied by the re-emergence of undesirable practices such as ‘book-up’ – an informal system of store credit susceptible to abuse by unscrupulous store managers. 
41.	In broad terms, there are two complementary options available to reduce the sizeable expenditure on ATM fees by residents of remote Indigenous communities: reduce ATM fees and reduce the use of ATMs. 
Reducing ATM fees 
42.	The taskforce considers that further exploration of the scope for foreign ATM fees in remote Indigenous communities to be reduced through voluntary action by ATM providers should be undertaken. The extent to which ATM providers are able to absorb reductions in fees would depend on the profitability of ATMs. It is worth highlighting that during the course of the taskforce’s investigation, one independent ATM owner announced a sizeable reduction in the fee for balance enquiries at a number of its ATMs in remote locations. However, a clearer picture is required on profitability. While revenue per ATM is higher in many remote communities than typical urban locations, costs for ATM providers in these communities can also be higher. Also, a reduction in fees could impose a burden on stores that have a revenue sharing arrangement with the ATM provider.
43.	It may be unreasonable to expect independent operators and community stores to assume the full burden of any reduction in fees (especially if this would threaten an ATM’s commercial viability). Therefore, it may be necessary for reductions in direct ATM fees in these locations to be achieved through burden sharing arrangements involving external subsidisation. 
44.	The public sector could step in to support ATM services in remote Indigenous communities. However, the cost of this kind of initiative would need to be considered in the broader context of substantial existing Government support for Indigenous communities. 
45.	ADIs have acknowledged the unique circumstances facing Indigenous communities in relation to banking services through their Reconciliation Action Plans. ADIs may be able to support such actions through further initiatives to improve access to banking services for Indigenous Australians. 
46.	Most importantly, ADIs could be encouraged to subsidise the cost of providing ATM services in remote Indigenous communities. This could occur directly by installing their own ATMs in these locations or indirectly via suitable arrangements with independent ATM providers. Another possibility is that ADIs could rebate direct ATM fees incurred by their Indigenous customers in remote communities. 
47.	An additional advantage of any such a scheme is that it may also encourage ADIs to increase support for financial literacy programs that help reduce usage of ATMs where possible. 
Reducing the use of ATMs
48.	Information gathered by the taskforce shows that residents of remote Indigenous communities make more frequent use of ATMs than their counterparts in metropolitan areas. This is most evident in relation to balance enquiries. For this reason, the taskforce has considered the extent to which communities may themselves be able to reduce the impact of these fees through changing the way they use ATMs.
49.	The taskforce notes that Government, industry and communities already have in place a number of strategies designed to address factors contributing to the relatively high use of ATMs in these communities. There may be an opportunity to expand these programs in a way that gives them a more direct focus on the use of ATMs. Over time, this may help to reduce some of the pressures that currently necessitate frequent ATM transactions and improve access to financial services.
•	A broad range of financial literacy initiatives are currently funded or supported by the Australian Government, industry and community groups. These aim to improve the capacity of remote Indigenous community residents to effectively manage their finances. Financial literacy programs could be enhanced to address high usage of ATMs, for example, by warnings about the costs associated with frequent balance checks, and promoting alternative means of finding out how much is in an account.
•	Payment providers, including Centrelink, could consider whether transparency on timing and amounts of payments could be enhanced, thus reducing the demand for balance enquiries.
•	ADIs run a broad range of programs, and these could be expanded to include information about ATM usage. ADIs could also consider supporting accounts that would limit vulnerability to ATM charges, for example, via limits on the number of balance enquiries a day. There could also be renewed efforts to ensure that accounts do not have an overdraft facility unnecessarily.
•	Telecommunications strategies to improve access to phone and internet channels. These are supported by an education strategy to provide information on on-line banking. These programs could be expanded, or supported by financial literacy programs. Such efforts may, however, lead to a duplication of costs where an ATM already exists.
•	Housing programs may also alleviate food storage problems.
50.	While there is scope to address some of the factors that contribute to frequent ATM use in remote Indigenous communities, the taskforce acknowledges that many of these factors are deeply entrenched. This means that the pace of progress is likely to be slow. 
51.	It is also important to consider the potential implications of behavioural change for the viability of ATMs located in remote Indigenous communities. There may be the risk that success in reducing ATM use could undermine the commercial viability of remote ATMs or result in increased fees to ensure viability. 

IV.	Next Steps
52.	Successful efforts to reduce the cumulative impact of foreign ATM fees on residents of remote Indigenous communities are likely to require a combination of fee reductions/rebates and measures to support behavioural change. 
53.	Achieving lower foreign ATM fees is likely to require direct engagement with CEOs of ATM providers, with a view to establishing an in‑principle agreement with the CEOs of major ADIs and independent ATM providers to work together towards reducing the fee burden on remote Indigenous communities. (The taskforce would bear in mind the potential for competition issues that could be raised by this action.)
54.	The taskforce could conduct further research and consultation with industry to develop a more detailed proposal by mid-2011 (when the taskforce is scheduled to present its more general report on ATM issues). Part of this would assess the capacity of various parties to respond most effectively and efficiently. This work would also allow for consultation with any other stakeholders that have not yet had the opportunity to present their views to the taskforce. FaHCSIA and ASIC would also have an important role to play in this process. 
55.	Reducing the use of ATMs in remote Indigenous communities is likely to require a review of existing programs, to ensure that they include education regarding ATMs and that they are consistent in their messages. It is also likely to require better coordination and targeting of communications initiatives. Further work could be undertaken to determine whether the transparency of payments, including those from Centrelink, could be improved. 
•	FaHCSIA may be best placed to coordinate much of this work given its overall responsibility for Indigenous policies and its expertise in these areas. 
•	This work could potentially be done through existing forums, for example the Indigenous Financial Services Network.
V.	Attachments
A – Terms of Reference
B – Summary of Data
C – Consultations
D – Published Reports
E – Remote Indigenous Communities
F – A Summary of Some Existing Programs

Attachment A – Terms of Reference
The taskforce will consider the impact of the ATM reforms on: 
•	the transparency and level of ATM fees;
•	consumer behaviour;
•	competition in the ATM market; and
•	the deployment of ATMs.
The report will include recommendations on the need for further measures to enhance competition and transparency in Australia’s ATM industry. 
The taskforce will examine issues relating to the cost of ATM access for indigenous and other remote communities. 
Recent reports have suggested that ATM fees can impact disproportionately on residents of remote indigenous communities. Accordingly, the taskforce will examine: 
•	provision of ATM services in remote communities;
•	fees for ATM services in remote communities;
•	the impact of these fees on residents in remote communities; and
•	alternatives to current arrangements and practices for accessing cash and account balance information in remote communities.
The report will include appropriate actions for dealing with issues that are identified by the taskforce.

Attachment B: Summary of Data
The taskforce collected data from 26 ATM providers covering around 29 500 ATMs, which we estimate constitutes around 98 per cent of all ATMs in Australia. The scope of the data collected included, for each individual ATM, the level of direct fees for withdrawals and balance enquiries, the postcode, the type of location (e.g. in a branch), whether the provider owned the site and the date the ATM was installed.
Based on this data, the highest direct fees that we have been able to verify in very remote areas are three ATMs that charge $3.00 for withdrawals (Table B.1). The vast majority of ATMs in very remote communities charge $2.00 for a balance enquiry, with the highest charge being $2.85.
Table B.1: Direct ATM Fees by Geographical Region
December 2010	
		Withdrawal		Balance enquiry	
		Average	Maximum		Average	Maximum	
Major cities		$2.03	$5.00		$1.80	$2.85	
Inner regional		$2.05	$4.00		$1.84	$2.85	
Outer regional		$2.08	$4.00		$1.87	$2.85	
Remote		$2.09	$2.85		$1.91	$2.85	
Very remote	 	$2.16	$3.00	 	$1.91	$2.85	
Sources: ABS, RBA	

Around 60 per cent of ATMs in very remote communities charge $2.00 or less for withdrawals, which is in line with the typical foreign fee prior to direct charging, while over 99 per cent charge $2.50 or less for a withdrawal (Table B.2). 
Table B.2: Direct Fees – Very Remote ATMs
Per cent, December 2010	
		Withdrawal	Balance enquiry	
$0.50 or less		0.0	3.0	
$0.51 - $1.00		0.0	3.5	
$1.01 - $1.50		3.0	2.1	
$1.51 - $2.00		57.8	90.8	
$2.01 - $2.50		38.5	0.5	
More than $2.50		0.6	0.2	
Sources: ABS, RBA				

Overall, for a given provider the pricing of foreign transactions at ATMs located in remote communities is in line with, or even less, than for ATMs in major cities. However, since ATMs in remote communities are more likely to be owned by independent providers (Table B.3), who generally charge more than financial institutions, the average direct charge across all withdrawals is around 13 cents higher in remote communities (Table B.1).

Table B.3: ATM Providers by Geographical Region
Per cent, December 2010	
		Major cities	Inner regional	Outer regional	Remote	Very remote	
ADIs		56.1	47.5	39.4	31.1	20.4	
Independents	 	43.9	52.5	60.6	68.9	79.6	
Sources: ABS, RBA	

Independent owners have a business model supporting relatively simple machines, which can be maintained and serviced to a large degree by store managers themselves. Not surprisingly then, nearly half of very remote ATMs are located in stores (Table B.4).
Table B.4: Direct Fees – Very Remote ATMs by Type of Location
December 2010	
		ATMs		Withdrawal		Balance enquiry	
		(Per cent)		Average	Minimum	Maximum		Average	Minimum	Maximum	
Retail premises		48.7		$2.21	$1.50	$3.00		$1.88	$0.50	$2.50	
Licensed venue		30.6		$2.22	$2.00	$3.00		$2.01	$2.00	$2.85	
Branch		14.2		$1.93	$1.50	$2.00		$1.76	$0.50	$2.00	
Shopping centre		4.1		$2.03	$1.50	$2.50		$1.85	$0.50	$2.00	
Street		0.5		$2.17	$2.00	$2.50		$2.17	$2.00	$2.50	
Other		1.9		$2.24	$2.00	$2.50		$2.00	$2.00	$2.00	
Sources: ABS, RBA		 		 	 	 		 	 	 	

Attachment C: Consultations
Government Agencies
Australian Competition and Consumer Commission
Australian Securities and Investment Commission
Centrelink
Department of Broadband, Communications and the Digital Economy
Department of Fair Trading (NSW)
Department of Fair Trading (NT)
Department of Fair Trading (QLD)
Department of Fair Trading (SA)
Department of Fair Trading (WA)
Department of Families, Housing, Community Services and Indigenous Affairs
Department of Regional Australia, Regional Development and Local Government
Financial Ombudsman Service
Financial Institutions and Independent ATM Owners
Australian Bankers’ Association
Australian Payments Clearing Association
Commonwealth Bank
Customers Ltd
FirstData
National Australia Bank
Traditional Credit Union
Westpac
Non-government Organisations
Aherrenge Community Store
Areyonga Community Store
Arnhem Land Progress Aboriginal Corporation
Australian Financial Counselling and Credit Reform Association
Anangu Pitjantjatjara Yankunytjatjara
Centre for Social Impact, UNSW
Indigenous Consumer Assistance Network
Finke River Mission Store
Lutheran Community Care
Mai Wiru Regional Stores Council
Margaret and David Hewitt 
Money Management, Jungami-Jutiya Indigenous Corporation
North Australian Aboriginal Justice Agency
Northern Territory Legal Aid Commission
Ntaria Store
Reconciliation Australia
Red Cross Alice Springs
Tangentyere Council
UnitingCare Wesley Adelaide
Utopia Community Store
Wallace Rockhole Community Store
The taskforce would like to extend its special thanks to Fiona Guthrie (Australian Financial Counselling and Credit Reform Association), Kate Rich (Red Cross Alice Springs), Judy Woolcock (Lutheran Community Care) and Leigh Shacklady (Tangentyere Council) for facilitating its visit to remote indigenous communities in the Northern Territory.

Attachment D: Published Reports
The taskforce reviewed the following published reports.
Altman JC, S McDonnell and S Ward (2002), ‘Indigenous Australians and Competition and Consumer Issues: A Review of the Literature and an Annotated Bibliography’, Centre for Aboriginal Economic Policy Research Working Paper No 12/2002.
•	A review of Australian and overseas research on competition and consumer protection matters in Indigenous communities. 
ANZ (2009), Reconciliation Action Plan.
•	A summary of ANZ’s Indigenous employment practices and financial literacy programs in Indigenous communities.
Australian Financial Counselling and Credit Reform Association (2010), ATM Fees in Indigenous Communities, November.
•	A report on the impact of ATM fees for consumers in remote Indigenous communities.
Australian Government Financial Literacy Foundation (2008), Understanding Money: Good Practice in Developing Financial Literacy Initiatives with Indigenous Australians.
•	A guide and summary of existing projects that aim to improve the financial literacy of Indigenous Australians.
Australian Securities and Investment Commission (2002), ‘Book Up’ Some Consumer Problems, March.
•	A report on some of the problems that arise for consumers using the ‘book-up’ system, which is common in regional and remote Australia. Under this system, stores provide credit, usually on condition that the consumer cashes their social security cheque at the store, hands over their debit card (and often has to disclose their PIN), completes a blank withdrawal form or provides the store with a direct debit authority. The problems identified include that: there may be additional or hidden costs; there are opportunities for price exploitation; lack of transparency or poor record keeping; consumers have no opportunity to learn and practice electronic banking or money management skills; handing PIN numbers to the trader is a breach of the bank’s conditions of use and consumers may be liable for unauthorised transactions.
Beal DJ and S Delpachitra (2005), ‘Banking in the Bush (1993-2003): A Decade of Change’, Economic Papers, 24(1), pp 61−74.
•	Investigates the effect of financial deregulation on rural and remote Australia. It notes the move to electronic payments albeit at a slower rate of growth than in metropolitan areas.
Commonwealth Bank of Australia (CBA), (2010), Reconciliation Action Plan.
•	A summary of CBA’s Indigenous employment practices and financial literacy programs in Indigenous communities.
Edgar Dunn & Company (2010), 2010 Australian ATM Market Study, November.
•	A report on ATM use, revenue, costs and fees based on a survey of twenty ATM providers.
Filipovski B and D Flood (2010), Reform of the ATM System – One Year On, RBA Bulletin, June, pp 37 − 45.
•	A review of the impact of direct charging in the first year after it was introduced.
House of Representatives Aboriginal and Torres Strait Islander Affairs Committee (2009), Everybody’s Business: Remote Aboriginal and Torres Strait Community Stores, November.
•	An inquiry into the operation of local community stores in remote Aboriginal and Torres Strait Islander communities. The committee noted the limited banking choices available in remote communities and recommended investigating the level of fees and mechanisms to lower or waive fees.
House of Representatives Standing Committee on Economics, Finance and Public Administration (1999), ‘Regional Banking Services: Money Too Far Away’, March.
•	An inquiry on alternative means of providing banking services in regional and remote Australia to those currently delivered through the traditional bank branch network. With respect to ATMs, the committee recommended that the Australian Bankers’ Association open discussions with the Australian Local Government Association and other interested organisations about the feasibility and value to communities of placing ATMs in council offices and other such locations.
McDonnell S (2003), ‘Chasing the Money Story: An Evaluation of the Tangentyere Bank Pilot’, Centre for Aboriginal Economic Policy Research Working Paper No 21/2003.
•	A study of the Tangentyere Bank Pilot Project, which the authors state is often cited as a ‘best practice’ model of financial service provision and financial literacy training.
McDonnell S and DF Martin (2002), ‘Indigenous Community Stores in the “Frontier Economy”: Some Competition and Consumer Issues’, Centre for Aboriginal Economic Policy Research Discussion Paper No 234/2002.
•	This paper examines the key competition and consumer issues faced by Aboriginal people in remote communities. It addresses the implications of some specific economic practices of Aboriginal consumers and Aboriginal businesses, with a focus on community stores.
McDonnell S and N Westbury (2001), ‘Giving Credit Where it’s Due: The Delivery of Banking and Financial Services to Indigenous Australians in Rural and Remote Areas’, Centre for Aboriginal Economic Policy Research Working Paper No 218/2001.
•	This paper explores current banking and financial services in the context of Australia’s financial system, the current supply of banking and financial services to rural and remote communities, and the impact that the lack of access to these services has on the relatively increasing Indigenous populations of these communities.
National Australia Bank (NAB), (2009), Reconciliation Action Plan, December.
•	A summary of NAB’s Indigenous employment practices and financial literacy programs in Indigenous communities, including a discussion of its strategic partnership with Traditional Credit Union.

Parliamentary Joint Committee on Corporations and Financial Services (2004a), Money Matters in the Bush: Inquiry into the Level of Banking and Financial Services in Rural, Regional and Remote Areas of Australia, January.
•	This is a report from an inquiry into the provision of level of banking and financial service available to Australians living in rural and remote areas of the country. With respect to ATMs, the Committee recommended that: all ADIs place a high priority on introducing industry standards governing ATMs and EFTPOS in the more remote areas of Australia (and that the ABA monitor the implementation of these standards); that banks implement measures to minimise the penalties imposed on their customers living in areas where they have no choice but to use a foreign ATM; and that the ATM Industry Steering Group focus on building safeguards into any proposed reform of the ATM fee structure that would ensure people living in country towns and remote communities do not incur significantly higher fees or charges for using a foreign ATM and that an unreasonable or unwarranted differential in fees and charges between those in rural and remote areas and those in metropolitan areas does not develop.
Parliamentary Joint Committee on Corporations and Financial Services (2004b), Report on the ATM Fee Structure, January.
•	This is a report from an inquiry into proposals to reform the foreign ATM fee structure and its likely effect in country Australia. The committee repeated its recommendation that the ATM Industry Steering Group focus on building safeguards into any proposed reform of the ATM fee structure that would ensure people living in country towns and remote communities do not incur significantly higher fees or charges for using a foreign ATM and that an unreasonable or unwarranted differential in fees and charges between those in rural and remote areas and those in metropolitan areas does not develop. The committee further recommended that the ATM Industry Steering Group: give full consideration to ensuring that the price of obtaining an account balance is kept to a minimum and at the very least there is in alignment with the costs associated with delivering the service; and develop a framework for real-time disclosure of ATM fees and charges. Finally, the committee recommended that, should a direct charging regime be introduced, both the RBA and the ACCC monitor and report on shifts in fees and charges for foreign ATM services, and that the RBA produce statistics on the fees for ATM transactions in rural, regional and remote Australia and the fees in metropolitan areas. 
Reconciliation Australia (2007), Banking for the Future: A Background Paper on Financial Literacy and Financial Services for Indigenous Australians, November.
•	A report on the National Indigenous Money Management Agenda, developed by Reconciliation Australia and the Department of Families, Community Services and Indigenous Affairs, in consultation with stakeholders from community organisations, the financial services industry and State and Australian Government agencies. With respect to ATMs, it advocates improving financial literacy, improving access to alternative methods to check balances and the lowering of ATM fees.
RBA (Reserve Bank of Australia) and Australian Competition and Consumer Commission (2000), Debit and Credit Card Schemes in Australia: A Study of Interchange Fees and Access, October. 
•	The report includes an explanation of how the ATM system works and the costs involved. It suggests that a direct charging regime would establish an economic relationship between the user and the provider of ATM services and allow users to exert a direct influence on pricing.
RBA (Reserve Bank of Australia) (2004), ‘Paying for Using a Foreign ATM’, Submission to the Parliamentary Joint Committee Report on the ATM Fee Structure, 5 November.
•	ATMs, such as those in remote locations, may genuinely have higher costs per transaction, in which case a higher direct fee is an efficient outcome. In most cases those machines would not exist prior to the introduction of direct charges because it was not economic to put ATMs in these higher cost locations when the interchange fee was the only revenue source.
RBA (Reserve Bank of Australia) (2008), An Access Regime for the ATM system: A Consultation Document, December.
•	This report provides background on the ATM system in Australia, including the issues that have been identified and the lack of competitive pressure on interchange fees and the benefits of moving to direct charging.
RBA (Reserve Bank of Australia) (2009a), An Access Regime for the ATM System, February. 
•	This document discusses the reform package and sets out the RBA’s analysis and reasoning leading to its decision to implement an Access Regime.
RBA (Reserve Bank of Australia) (2009b), ‘The Introduction of Direct Charging for ATMs’, RBA Bulletin, April, pp 1‑4.
•	An explanation of how direct charging works and its benefits.
Schwartz C, J Fabo, O Bailey, and L Carter (2008), ‘Payment Costs in Australia’, in Lowe P and I Harper (eds), Payments System Review Conference, Reserve Bank of Australia, Sydney, pp 88‑138.
•	This study provides comprehensive estimates of the underlying resource costs associated with different methods of payment.
Urbis Keys Young (2006), ‘National Indigenous Money Management Agenda: Community Consultations’, Final Report Prepared for Reconciliation Australia, October.
•	Feedback from community consultations on the financial literacy needs of Indigenous people and key issues with respect to financial products and services. While ATMs were generally viewed as efficient and effective, several issues ‑ including the fees incurred ‑ were raised.
Westbury N (1999), ‘Feast Famine and Fraud: Considerations in the Delivery of Banking and Financial Services to Remote Indigenous Communities’, Centre for Aboriginal Economic Policy Research Working Paper No 187/1999.
•	This paper identifies the barriers to improving delivery of financial services to Indigenous people in Central Australia. It describes existing responses to address these barriers, and recommends short- and longer-term options for building on existing initiatives. 
Westpac (2010), Reconciliation Action Plan.
•	A summary of WBC’s Indigenous employment practices and financial literacy programs in Indigenous communities; includes a discussion of strategic partnership with Indigenous communities in Cape York.

Attachment E: Remote Indigenous Communities
Remoteness
The Australian Bureau of Statistics’ (ABS) Remoteness Structure classifying Australia into five remoteness areas classes: major cities, inner regional, outer regional, remote and very remote areas (Figure E.1). Remoteness is based on a weighted proximity to population centres with populations large enough to support a full range of services. 
Figure E.1: Remoteness Area Classifications
2006	

Source: ABS Methods, Classifications, Concepts & Standards: Remoteness Structure	

The ABS calculates the weighted average remoteness of a postcode, based on proportion of area in each remoteness area class within the boundaries of that postcode. This was used to identify ATMs in very remote postcodes.
At the time of the most recent census (June 2006), 0.8 per cent of the Australian population lived in very remote areas, of which 48 per cent were Indigenous people. An estimated 16 per cent of Australia’s Indigenous population were living in very remote areas in June 2006 (ABS Cat 4713).
Very Remote Indigenous Communities
The focus of this report is discrete Indigenous communities in very remote areas. The ABS defines a discrete Indigenous community as a geographic location, bounded by physical or cadastral (legal) boundaries, and inhabited or intended to be inhabited predominantly (i.e. greater than 50 per cent of usual residents) by Aboriginal or Torres Strait Islander peoples. As of the last census, there were 1 187 discrete Indigenous communities, of which 1 008 are located in very remote areas (ABS Cat 4710).
The majority of these very remote Indigenous communities are small, with three quarter having a usual population of less than 50 people (Table E.1). Over half of remote Indigenous communities are located in the Northern Territory, with a further 255 in Western Australia, 112 in Queensland and 75 in South Australia. 
Table E.1: Very Remote Indigenous Communities
Number of communities, 2006	
Total	1 008	
Reported usual population		
Less than 50	767	
50–99	95	
100–199	58	
200–499	59	
500–999	17	
1,000 or more	12	
State or Territory		
Northern Territory	559	
Western Australia	255	
Queensland	112	
South Australia	75	
New South Wales	6	
Victoria	1	
Education facilities located in communities		
Primary school	212	
Secondary school up to Year 10(a)	43	
Secondary school up to Year 12(a)	35	
Pre-primary(a)	94	
Other education services(a)	126	
Public access to community telecommunication facilities		
Telephones	547	
Satellite dish(a)	167	
Radio(a)	233	
Television(a)	244	
Internet(a)	110	
(a) Data not collected on ‘administered’ communities with a population of less than 50.
Source: ABS Cat 4710	

The usual means of travel to the nearest town from most of these very remote Indigenous communities is by road, although a significant proportion of these communities are cut off by road at least once a year, sometimes for months at a time. As of 2006, there were also around 95 communities that were usually accessed by air and a further 25 usually accessed by sea (ABS Cat 4710). Just over half of very remote Indigenous communities have public telephones, with public internet access much less common. 
People in these communities have limited access to education, with only a fifth of communities having its own primary school. As a result, as of June 2006 only 11.3 per cent of Indigenous people living in very remote areas had completed high school (Table E.2). At least half of these people speak an Indigenous language, with a significant minority having poor English language skills. As of 2005/06, around 60 per cent of Indigenous people in very remote areas earned less than $250 per week, with the median weekly income being $215.
Table E.2: Very Remote Indigenous Australians	
Per cent, 2006	
Highest year of school completed(a)		
Year 12 or equivalent	11.3	
Year 11 or equivalent	8.5	
Year 10 or equivalent	21.0	
Year 9 or equivalent	12.5	
Year 8 or below	29.0	
Did not go to school	6.5	
Not stated	11.2	
Language skills		
Speaks English only	35.4	
Speaks an Australian Indigenous language	56.3	
    and speaks English well	42.7	
    and does not speak English well	12.2	
    and English proficiency not stated	1.3	
Speaks another language	2.3	
Not stated	6.0	
Gross weekly individual income(a)		
Nil or negative	8.1	
$1 ‑ $149	7.5	
$150 ‑ $249	45.3	
$250 ‑ $399	15.4	
$400 ‑ $599	7.5	
$600 ‑ $799	3.4	
$800 ‑ $999	1.5	
$1,000 ‑ $1,299	1.2	
$1,300 ‑ $1,599	0.5	
$1,600 ‑ $1,999	0.4	
$2,000 or more	0.3	
Not stated	8.9	
(a) Persons aged 15 years and over.
Source: ABS Cat 4713	

The Evolution of Current Financial Arrangements
While financial institutions closed a significant number of branches in regional and remote Australia during the 1990s, the majority of very remote Indigenous communities never had access to a bank branch (Parliamentary Joint Committee on Corporations and Financial Services 2004a, p 235). 
Prior to the introduction of electronic banking, people in remote Indigenous communities usually received their income (including any welfare benefits) via cheque, which they could cash at the one local store (often community owned) to obtain food and other goods. The store could also provide some cash and hold onto any residual balances (thereby acting like a bank where none was present). The system was not without its drawbacks, including limited options for people to manage their own money (for example, accessing funds while travelling was difficult, so too was saving). Also, stores providing this service had to pay the costs of keeping accounts and providing cash to people informally, while the government incurred significant costs associated with managing payments via cheque.
Starting around the mid 1990s, Centrelink began to require welfare recipients to hold bank accounts in order to receive payments (in most cases). This reduced the costs for Centrelink and provided numerous advantages associated with having a bank account. However, people in very remote communities were no longer able to access their funds so easily – they were now paying fees, access was more complex and largely via electronic means, and it remains difficult to establish and make changes to accounts. The fact that substantial monthly fees were often imposed in arrears also meant that those on low incomes would frequently overdraw their accounts, thereby incurring further fees and charges. People with access to ATMs were paying fees, although these were not transparent, particularly for people who did not typically read their bank statements or understand them fully. Another concern that arose with the move to electronic transactions is that transactions are sometimes initiated by the store-owners themselves using cards and PIN numbers they hold under ‘book-up’, an informal system of store credit susceptible to abuse by unscrupulous store managers.

Attachment F: A Summary of Some Existing Programs
Name	Supporting 
Organisations	Administering 
Organisations	Description	Eligible 
Communities
or Individuals	
AddsUP Savings Plan	NAB		Financial literacy and matched savings program for people who have repaid their No Interest Loan Scheme (NILS) or StepUp loan. 		
AFCCRA's Indigenous Network	AFCCRA	AFCCRA	AFFCRA facilitate an Indigenous network of financial counsellors and workers nationally, including attendance at AFCCRA's national conference, maintaining an Indigenous Network and holding an Indigenous Workers Forum annually. 		
Banking Story	Westpac		Pictorial representation of how to complete banking transactions in conjunction with supporting programs.		
Commonwealth Financial Counselling	FaHCSIA	FaHCSIA	Helps people in financial difficulty to address their financial problems and make informed choices. Services include advice and information, advocacy and referral.		
Dealing with Book-Up: A Guide, Book Up: The Key Facts	ASIC	ASIC	Publications providing information on ‘book up’, an informal system of credit offered by stores and traders in rural and remote areas.	Downloadable	
East Kimberley Skills Volunteering Program	Jarwun, NAB	Skilled volunteers	Assisting Indigenous organisations with economic and social development, including review of existing literacy programs. 	East Kimberley	
Emergency Relief Program	FaHCSIA	Community organisations in Indigenous communities	Payments to assist people in financial crisis to deal with their immediate crisis situation in a way that maintains the dignity of the individual and encourages self reliance.		
ESSI Money	Bank of Queensland (BoQ)	Financial Basics Foundation	Online money management game.		
Family Income Management	FaHCSIA, Centrelink, Westpac	Cape York Partnerships	Working with Indigenous families to develop money management, budgeting and saving skills.	Nth Qld	
Financial counselling	State and Territory Government	State and Territory Governments	Helps people in financial difficulty to address their financial problems and make informed choices.		
Financial First Steps	Westpac	Westpac	A workshop on basic money management for young adults participating in Community Development Employment Projects.	NT, Nth Qld	
Financial literacy and e-learning grants	CBA	CBA	Grants to assist primary and secondary students to develop financial literacy and technology school.	Indigenous community schools	
Financial Literacy Project	ANZ	TCU	TCU is the working partner in ANZ's financial literacy and Indigenous capacity building programs. 	NT	
Financial Management Resource Support Units 	FaHCSIA	FaHCSIA	Training, mentoring, capacity building, ongoing support for organisations and workers delivering Money Management Services (see below). 	Select locations in NT and WA.	
Income Management	FaHCSIA	Centrelink	Ensuring a share of income support and family assistance payments cannot be spent on excluded goods (e.g. alcohol).	NT emergency response communities	
Indigenous Banking Team	CBA	CBA	Works with local partners to tailor money management programs to meet the unique needs of individual communities.		
Indigenous Consumer Assistance Line	CBA	CBA	A customer assistance line offering toll-free access to banking services for remote customers. A consumer assistance line developed to provide a relevant banking service for remote Indigenous consumers to assist with money management needs.	Qld, NT, WA	
Indigenous Consumer Assistance Network (ICAN)	ICAN	ICAN	Provides consumer education, advocacy and financial counselling services to Indigenous consumers across the nation.	Nth Qld	
Indigenous Financial Counselling Mentorship Program	ICAN	ICAN, CBA	Aims to increase the number of Indigenous and financial counsellors by supporting Indigenous people to undertake accredited training. 		
Indigenous Financial Counselling Outreach Program	Aboriginal Legal Rights Movement, Commonwealth Bank		Provides consumer advocacy services and money management skills, as well as addressing immediate financial hardship.	APY lands and around Port Augusta, SA	
Indigenous Money Mentor Network	NAB	Local service providers	Provides face-to-face support to Indigenous peoples on low incomes who are financially marginalised (including casework, supported referral, access to microfinance).	Alice Springs, Darwin, Mackay, Lismore, Penrith, Melbourne, Parramatta and Western Sydney	
Indigenous Netbank Training	CBA	ICAN	Helps Indigenous people to use CBA’s internet banking service effectively.	Nth Qld	
Indigenous Outreach Program	ASIC	ASIC	ASIC officers meet with Indigenous consumers and organisations to take complaints and progress project work on specific financial services issues impacting on Indigenous consumers. 	 	
Money $tory	Little Fish	Little Fish	Provides communication and capacity building services, including financial literacy resources and training to organisations and businesses – particularly in cross cultural contexts.	NT	
Manage Your Income, Manage Your Life	CBA	Centacare, Caritas  	Financial counsellors working with community groups to train and resource Indigenous communities in financial management. 	Diocese of Wilcannia-Forbes, Western NSW 	
Matched Savings Plan	Centrelink	Centrelink	Matched savings up to $500. Preconditions including completion of financial literacy courses. 	Compulsory income management participants 	
MilbaDjunga	ASIC	ASIC , Education QLD, NT and WA	A financial literacy program currently involving 14 primary and secondary schools.	Selected schools in QLD, NT and WA	
MoneyBusiness	FaHCSIA, ANZ	Local service providers 	Community based money management program. 	Katherine, Tennant Creek, Galiwin'ku, Niguiu, Kununurra, Geraldton	
Money Management Courses	FaHCSIA	FaHCSIA	Free courses that can help participants to improve their financial skills. They can teach participants how to budget, develop a savings plan and  understand debt and credit. 	Select locations in WA, NT and QLD	
Money Management Services	FaHCSIA	FaHCSIA	Money management services provide practical and essential support to help people build longer-term capability to manage their money better and increase financial resilience.	 	
MoneyMob Talkabout	FaHCSIA	Matrix on Board	Financial literacy education programs delivered to children, young people and adults in remote locations through a travelling 4WD. 	NT	
my Moola (pilot)	ANZ, First Nations Foundation	First Nations Foundation	Financial literacy and personal development program.  	Shepparton	
National Indigenous Consumer Strategy	Ministerial Council on Consumer Affairs.  	National Indigenous Consumer Strategy Reference Group 	Action plan addressing trading practices, housing, consumer literacy. 	 	
Moola Talk Comic	ASIC	ASIC	Comic series set in remote and regional Indigenous communities covering banking.	Downloadable	
Operation Financial Literacy	BoQ	Financial Basics Foundation	High school literacy program.	All Australia, but targeted at Indigenous communities	
Saver Plus	ANZ	Brotherhood of St Laurence, Berry Street Victoria, The Benevolent Society, The Smith Family	Financial literacy and matched saving (for education) program.	 	
Tangentyere Council branch	Westpac	Tangentyere Council	A Westpac banking agency staffed by Indigenous people providing face-to-face banking services and access to subsidised ATM transactions.	Central Australia	
Tangentyere financial counselling	FaHCSIA	Tangentyere Council	Provides assistance and education on financial counselling and consumer rights and responsibilities.	Central Australia	
TCU remote branches	NAB, NT and Commonwealth Government.	TCU	TCU operates 12 branches in very remote indigenous communities, staffed by Indigenous people that speak the local language. Its business model encourages face-to-face banking with free branch withdrawals for its customers. NAB is providing a $1 million no-interest loan and $250,000 in marketing funds to TCU to launch five new branches.	NT	
TCU direct-charge-free foreign ATMs	Various major banks	Various major banks	TCU customers have direct-charge-free access to some major bank’s ATM networks, although TCU charges its customers foreign ATM fees.	NT	
Consumer outreach programs and publications 	State and territory offices of fair trading and consumer affairs, ACCC and ASIC 	State and territory offices of fair trading and consumer affairs, ACCC and ASIC	Government consumer agencies provide a range of publications and programs for Indigenous consumers, which contribute to financial literacy.