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Bankwest cuts ATM withdrawal fees except 7-Eleven

711 BankwestBankwest has announced it will also scrap ATM withdrawal fees except for those located at 7-Eleven stores.

“While Bankwest and Commonwealth Bank customers will continue to enjoy fee-free banking at 7-Eleven stores, Bankwest have made the decision to continue charging other banks’ customers a fee to use their ATMs in 7-Eleven stores,” said Clayton Ford, 7-Eleven general manager for Corporate Affairs told Inside FMCG.

“This decision is entirely at BankWest’s discretion. Given BankWest have advised they wish to withdraw their branded ATMs from our 670 stores from the end of this financial year, the decision to continue charging fees on some ATMs but not others is difficult to understand and no doubt confusing for customers.”

Bankwest told AAP it will cut all non-customer fees from 297 of its ATMs across Australia starting in October, but more than 300 ATMs located in 7-Eleven stores will still charge non-customers for a withdrawal.

“The change excludes overseas card holders and does not include Bankwest-branded ATMs in 7-Eleven stores,” a Bankwest spokesperson said to AAP.

“It is disappointing that BankWest have chosen to treat 7-Eleven customers – and the two-thirds of their ATM network that is currently in our stores – differently to customers using Bankwest’s other ATMs,” added Ford.

Commonwealth Bank, Westpac, ANZ and National Australia Bank also announced ahead of time last Sunday the $2 fee to take money out of a competitor’s ATM would be abolished. The announcement also includes Bank of Queensland and Suncorp.

“Australians have complained for some time about being charged fees for using another bank’s ATM. We have been listening to consumer groups and our customers and understand that there’s a need to make changes that benefit all Australians, no matter who they bank with. This is one of the steps we’re taking to make that happen,” said Matt Comyn, CBA’s group executive, Retail Banking Services.

“As Australia’s largest bank, with one of the largest branch and ATM networks, we think this change will benefit many Australians and hopefully demonstrate our willingness to listen and act on customer feedback.”

Most ATMs in the country are owned by by non-bank operators Cardtronics and Cuscal, who are yet to announce any changes to their fees.

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