Over the next year and a half, Citibank will add 150 ATM outlets to its existing network through a new partnership with Customers Ltd, an independent ATM operator. This will provide the bank’s clientele with one of the largest fee-free ATM networks in Australia.

Customers Ltd. will supply and operate the Citibank-branded ATM machines. As well, discussions are underway regarding an additional 150 machines, which may be implemented after the original 18-month agreement has passed.

The Customers Ltd. arrangement is complementary to Citibank’s existing agreements, which provide the bank’s customers with fee-free access to ATMs branded by Westpac and St. George.

Roy Gori, chief executive of Citibank, describes the Customers Ltd. ATM agreement as part of the bank’s strategy to expand its market share in Australia.

“Over the next 18 months to two years, we will be investing heavily in our brand and in our physical presence in Australia,” said Mr. Gori. “This includes the revitalisation of our existing branch sites with innovative technologies, the expansion of our ATM network, and the opening [of] new branches in key strategic sites.”

Depositors with Citibank may also access, without fees or limits, ATM machines branded by Westpac, St. George, or BankSA, as well as Citibank’s own network.

Citibank’s head of retail banking, Ajay Kashyap, said lowering fees was part of the strategy for pushing into the Australian banking market.

“Bank fees continue to be a major focus for Australian consumers,” said Mr. Kashyap. “So it makes strategic sense for us to build our network of ATMs so our customers can access fee-free ATM servicing across the country.”

Source: http://www.citibank.com.au/AUGCB/APPS/portal/loadPage.do?tabId=home&path=/info/sub_det/aboutus_news_20100718.htm