It looks like people are making the most of the ATM withdrawal fee axing, with the Commonwealth Bank of Australia recording a 34 per cent increase in ATM usage nationwide.
Andrew Hall, Executive General Manager at Commonwealth Bank, said the removal of ATM withdrawal fees has had an immediate effect.
“Day-on-day, we are seeing a growing number of customers of other banks using our ATMs to save themselves time and money,” Mr Hall said.
ARTICLE CONTINUES AFTER THIS ADVERTISEMENT
On Sunday when CommBank announced the change, there was a 16 per cent increase in customers of other banks using CommBank ATMs around the country. By Monday, there was a 38 per cent uplift in usage and on Tuesday the increase was sitting at 46 per cent.
In Queensland, there was a whopping 48% increase in ATM use on Tuesday, with a 45% increase in NSW.
“The growth in customers of other banks using CommBank ATMs is proof Australians wanted this change and it’s great to see people embracing it so quickly,” Mr Hall said.