ACCC Grants Authorization for Multi-Bank Regional ATM Trial

MT Newswires Live
2 hours ago

The Australian Competition and Consumer Commission (ACCC) granted authorization for the Australian Banking Association and other financial institutions to conduct a trial of multi-bank regional ATMs, according to a Wednesday statement.

Under the three-year authorization running until Oct. 9, 2029, Australian-issued cardholders will be able to withdraw cash on a fee-free basis from certain regional ATMs, while customers of participating banks will be able to make fee-free cash deposits once functionality is available.

Commonwealth Bank of Australia (ASX:CBA), ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Westpac Banking (ASX:WBC, NZE:WBC), and National Australia Bank (ASX:NAB) are among the members of the Australian Banking Association.

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