Westpac bank, the most profitble bank in the world, has now decided to take a profit hit by doing a complete back-flip on their ATM disloyalty fee. The disloyalty fee for Westpac customer’s using a foreign ATM, which we reported Westpac had moved from $2.00 earlier in the week to $0.25, is now NIL. So Westpac customer’s using other operator’s ATMs will now only be hit with the direct charge fee from that other operator. Also, Westpac bank customers can use any Westpac group group ATM (ATMs branded Westpac, St George or Bank SA) without any direct charge.
We have also confirmed that the other two Westpac group banks, St George and Bank SA, are no longer charging a disloyalty fee according to their respective websites. We had reported that both St George and Bank SA customers were going to be charged $0.25 as a disloyalty fee for using other operators ATM over and above the ATM direct charge fee. Of course, St George and Bank SA customers can also use any Westpac group ATM without incurring a foreign ATM direct charge.
This leaves NAB as the only one of the big four Australian banks still charging a disloyalty fee for processing foreign ATM transactions. Adelaide Bank, Bendigo Bank and Bank West are also charging a foreign ATM disloyalty fee. We are still waiting for confirmation from Bank of Quensland and HSBC.
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