Banks urged to follow suit as Commonwealth Banks axes ATM fees

Postado Setembro 24, 2017

National Australia Bank is the final of the big four to dump ATM charges for all Australians today, following in the footsteps of its major rivals.

By Sunday afternoon, Westpac decided it would do the same, saying withdrawal fees would be scrapped from its 2,925 ATMs, including St.George, Bank of Melbourne and BankSA ATMs.

"This is another example of acting on customer feedback as well as genuine reform from the industry, " he said.

After the CBA announced it would be the first to scrap the bank charges at its 3,400 ATMs, Westpac and ANZ followed its lead in also removing the fee, with involves an estimated 250 million withdrawals annually - worth $500 million in fees.

"We want all Australians, whether they are Westpac Group customers or not, to benefit from one of Australia's largest ATM networks".

'This will make it more convenient for millions of Australians to conveniently obtain cash, with no additional fees, ' Westpac spokesman George Frazis said. It will particularly assist Australians in rural and regional areas, " he said in a statement.

"We understand that the "foreign ATM" fee has been deeply unpopular with consumers".

ANZ's change will be implemented in early October 2017. The fees are usually between $2 and $2.50, and are a source of frustration for many Australian consumers.

Complaints about the fees led to the decision, the Commonwealth Bank said in a statement on Sunday.

Government minister Greg Hunt said getting rid of the $2 fee was good for consumers.

'Accessing your money from a bank account is an essential service that should be free for everyone, rather than an inconvenience with a penalty attached, ' he said.

The Courier Mail reports all of the Commonwealth Bank's 3400 ATMs around Australia will be made fee free for all users.

Treasurer Scott Morrison has urged Westpac, ANZ and NAB to respond.

Mr Morrison said he was pleased to see the ice broken on the issue of ATM fees.