Removal of ATM fees applies only in Australia: Westpac

Business

WESTPAC says four major Australian banks have removed fees for automated teller machines (ATM) cash withdrawals made by customers from other banks.
A spokesperson, however, said this applied only to ATMs in Australia.
The fees in PNG remains at K2.50.
“We see no likely change to current fees in PNG at this point in time as it is a different banking environment with higher security costs and less sophisticated bank interchanges,” the spokesperson said.
“That said, we regularly review our fees and charges across our whole product range to ensure that we offer genuine value for money to our customers. To avoid or reduce fees, customers can continue to use our Westpac ATMs or digital banking options like Eftpos, Instore, mobile and internet banking.”
Australian media reported that CBA, Westpac, ANZ and NAB banks had been aware of the unpopularity of “foreign ATM” fees among Australians.
The CBA was the first to abolish the A$2 fee (K5) for each withdrawal by non-customers.
“We have been listening to consumer groups and our customers and understand that there’s a need to make changes that benefit all Australians. This is one of the steps we’re taking to make that happen,” said Matt Comyn, CBA group executive of retail banking services.
Westpac quickly followed, emphasising the benefits afforded to those in regional and rural Australia.
“We want all Australians, whether they are Westpac group customers or not, to benefit from one of Australia’s largest ATM networks,” Westpac executive George Frazis said.