It is a little vague but it does save on transaction costs.

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When you touch down in paradise, be sure to save money while you spend on vacation by avoiding foreign transaction fees, which rack up quickly.

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That should save Seven-Eleven and its customers the other banks' transaction fees.

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"They can use it in an ongoing way to pay bills, save money, get cash and have a real basic, robust, safe and convenient transaction account, " said Treasury Financial Access Innovations Director Joshua Wright.

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The transaction cost for this flurry of trades was a tiny fraction of the taxes I will save.

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The Shared Transaction Service Centre, nicknamed The Hub, went live on 2 January and was designed to save the States money by centralising payments.

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