HSBC allows free access to Westpac ATMs
HSBC Bank has joined Citibank in allowing its customers access to 1,700 fee-free Westpac-branded automatic teller machines (ATMs).
HSBC customers will be able to access them across the country from March 3 when the Reserve Bank of Australia’s (RBA) direct charge ATM fee reforms are introduced.
The RBA reforms will eliminate fees paid between banks when customers use each others’ ATMs – known as the interchange fee – but instead allow banks to charge a fee when their customers use other banks’ ATMs, dubbed ‘foreign ATMS’.
HSBC will not apply a foreign ATM fee to customers when they transact with other networks, the bank said in a statement on Monday.
The move follows Citibank’s announcement on Friday that it will also partner with Westpac and not charge its own customers foreign ATM fees.
On Sunday, Commonwealth Bank of Australia became the only one of Australia’s big five banks to roll back its fees for customers using foreign ATMs.
National Australia Bank, Westpac, ANZ Bank and St George Bank have already announced they will continue to charge foreign ATM fees.
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