Big four banks Commonwealth, ANZ, Westpac and ANZ end $2 ATM fee

The move follows a string of scandals for the bank including its newly offloaded life insurance which was revealed to put profit before sick and dying people

The move will no doubt be a victor for those trying to avoid pesky $2 or more bank charges, and Reserve Bank figures show that it certainly all adds up - last financial year alone, more than 250 million withdrawals were made by non-customers across Australian banks, meaning that about $500 million was withdrawn because of an additional fee.

But on Sunday the bank announced it was removing ATM fees for withdrawals made by non-customers.

Bank customers in Australia are often charged a withdrawal fee when they use another bank's cash machine to withdraw money.

While CBA is not junking fees for its Bankwest-branded machines, Westpac said its no-fee policy would include all St.George, Bank of Melbourne and BankSA ATMs.

Westpac announced they were following suit soon after, followed by the ANZ, leaving NAB as the only one of the big four banks yet to move on the issue.

Australia's fifth largest bank, Macquarie, said it did not charge ATM fees and would refund the $2 fee if their customer was slugged by another bank.

Westpac Group Executive, Consumer, George Frazis, said in a statement that it understood "the "foreign ATM" fee has been deeply unpopular with consumers".

"I will always welcome positive initiatives from banks that put customers first, and this is one of them", Mr Morrison said.

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ANZ had been "actively working on how we provide fee-free ATMs" before deciding to remove charges for non-ANZ users of its 2,300-strong cash-machine network from October, said Fred Ohlsson, ANZ group executive.

CBA's group executive of retail banking services Matt Comyn said ATM fees had always been "unpopular" and consumers were fed up with been stung.

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.

The lender's Bankwest cash machines and worldwide cards are excluded, Commonwealth Bank said on its website.

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

"We know ATM fees are one of the most unpopular and while our customers have benefitted from our network of ATMs across the country, this is another example of acting on customer feedback as well as genuine reform from the industry".

"Imagine how we could get better banking for all Australians if we had a banking royal commission", Opposition Leader Bill Shorten said.


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