Finally, banks have decided to scrap ATM fees for using other ATMs with first a couple of banks announcing and then all the rest matching.
Anyone else left?
Update: Yes, looks like CO-OP Bank will still charge a $1 fee. CO-OP Fee Free from April 1
via Reddit
Still says there is $1 fee on their site and no announcements on their site or social media.
Update: CO-OP bank will be fee free from April 1.
Did anyone else read this post at first glance and think ATMs we’re giving away free money?? 😂 I got real excited for a minute!! lol
Hehe wouldnt that be awesome! Free money! Yes please!
This was in news headlines yesterday on channel 1. All banks are dropping the charges and some opinions are that they may take away ATM machines from small towns as it may not be profitable. Also, banks have confirmed that they are assessing atm usage in each suburb and will then see if it's worth paying rents and maintenance costs for these atms etc. Coming months would be interesting to see.
One thing I know "Banks won't offer a deal that's not in their interest".:)
Just for everyone's information.
I also watched one news and I don't like how the ANZ lady said they are scraping this fee because their customers don't like it, well your customers also don't like all the other fees, you are getting rid of this because of something else, not your customers.
Could be the turning point of going to another bank (that normally doesn't have many ATM's around).
They were just swapping fees with each other and having to pay corporate income tax on it. Now every gets to keep their cash… no tax :)
Customers paid the fees. The banks pocketed the fees minus a small service charge. All the banks were making money, and all the customers were losing money.
Well this might be a step before they start removing atm machine
Co-op bank?