Suncorp Metway and the Bendigo and Adelaide Bank have combined their ATM networks, providing their respective banking customers with fee-free access to 2,000 machines nationwide.

The agreement to allow their combined pool of banking customers to withdraw cash and make other transactions without incurring fees through a combined network of each others’ ATMs, first announced in December, is now active. Although this is more than three months later than the banks originally intended, the combined ATM network includes 400 additional machines for their 2.4 million banking customers.

David Foster, chief executive of Suncorp banking division, emphasised the geographic compatibility of the two regional banks’ networks when discussing the move, just as he did in December when the original announcement was made.

The Bendigo ATM network is focused in the Victoria region, and Suncorp in Queensland, Sydney, and the remaining capital cities. This gives the combined network good coverage of the entire nation.

Similar agreements have been announced by most other banks, as well, both major and regional, following the Reserve Bank’s decision to require banks to charge ATM fees directly at the time of the transaction.

The Commonwealth Bank and BankWest have the largest combined fee-free network in Australia, with roughly 4,000 ATM machines, while the one between National Australia Bank and the Cuscal credit union organisation has 3,100.

The network arranged between Westpac, St. George Bank, and BankSA has 2,800, and the ANZ Banking Group 2,500.

Source: http://www.businessday.com.au