Open ATM access complete

Bank customers can now make transactions on any ATM after an agreement between the NAB and Cashcard completes the integration of auto teller networks among the major banks, regional banks, building societies and credit unions across Australia.

Cashcard owns around 30 per cent of the country's 13,500 ATMs which link the smaller financial institutions while the major banks make up the rest with their own separate networks.

Practically every account holder in Australia with card access should now be able to withdraw cash from any ATM, no matter which financial institution they hold their accounts with.

However, BankChoice warns customers they should be aware that the fee for conducting transactions on an ATM will still vary depending whose machine you use.

Making withdrawals from the ATM belonging to another institution in Australia generally costs $1.50. Using an ATM when overseas generally incurs a $4 charge.

Australian Financial Review, p74, 6/7/01

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