The Commonwealth Bank has become Australia's first to axe the much-despised ATM withdrawal fee for customers from other institutions.
“Australians have complained for some time about being charged fees for using another bank’s ATM,” Matt Comyn, Group Executive, Retail Banking Services, said on Sunday.
Reserve Bank of Australia data shows Australians made more than 250 million withdrawals from banks other than their own last year.
The changes will apply to its 3,400 machines from Sunday – it's unclear whether any of the other Big Four will follow suit.