Proposed partnership to improve ATM access

9/12/2009

Australia’s premier regional banks, Suncorp Bank and Bendigo Bank, are forging a new partnership to provide their customers with greater access to ATMs.

Under the proposal, which is subject to regulatory and legal approvals, customers will have access to the combined ATM networks of the two banks, allowing them to transact at almost 1600 machines across Australia without incurring a direct charge fee.

Suncorp Bank Chief Executive, David Foster, said the partnership doubles both bank’s ATM networks.

“A more comprehensive network will make banking convenient for customers, while allowing them to avoid fees imposed by other banks for use of their machines,” he said.

“The networks operated by the two banks are complementary, with Bendigo’s network weighted towards Victoria and regional centres while Suncorp is strong in Queensland, Sydney and other capital cities.”

Bendigo and Adelaide Bank Managing Director, Mike Hirst, said the partnership made sense as both organisations had strong reputations for being customer-connected and for leading the major banks with high customer satisfaction ratings.

“Our customers value good service, they want us to act in their best interests and they want to feel appreciated for their business,” he said.

“This is our point of difference; it’s what our customer’s value and is what sets us apart from our competitors.

“Under the partnership customers will benefit from the combined strength of our ATM networks.”

Mr Foster said the growth of both Bendigo and Suncorp’s customer service networks, demonstrate a commitment by regional banks to provide better access to services for customers across Australia.

“Regional banks have built more branches than the majors in recent years.”

The ATM sharing arrangement follows the Reserve Bank of Australia’s ATM Fee Reforms, which said banks should be able to forge partnerships to improve ATM services.

The banks hope to roll out the changes by March 2010.

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