This change will be rolled out to more than 1,700 Armaguard 'atmx' cash points in the coming weeks, including more than 500 regional, rural and remote locations.
Westpac personal and business transaction customers as well subsidiaries including St.George, BankSA and Bank of Melbourne are all eligible to receive fee-free access.
Westpac Chief Executive Consumer and Business Banking Chris de Bruin noted the new partnership builds on Westpac’s strategy to offer customers more ways to do their banking.
“While the way Australians are banking is changing, access to cash remains important for some consumers,” Mr de Bruin said.
“Through our agreement with Armaguard, we’re providing a significant increase in the number of locations where our customers can withdraw cash fee free and check their balances to help them stay in control of their spending, including in locations where we do not have a physical presence.”
Westpac’s agreement with Armaguard sees the bank now offer the largest combined fleet of fee-free ATMs across Australia’s four major banks at 7,000 locations nationwide.
This comes as RBA March data revealed Aussies continue to withdraw higher denomination banknotes as a precaution or store of wealth, as well as macroeconomic factors.
While ATM withdrawal numbers are generally at historic lows, the average value of withdrawals has risen sharply since Covid, as seen in the graph below.
Where can Westpac customers make fee-free cash withdrawals and balance enquiries?
Westpac Group personal and business transaction account customers can make fee free cash withdrawals and balance enquiries in Australia at the following ATM locations:
- On-site Westpac, St.George, BankSA and Bank of Melbourne bank ATMs.
- atmx branded ATMs.
- Precinct branded ATMs.
- Any CBA, NAB or ANZ ATM.
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Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market.
Provider | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 4 | 0 | 0 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
| FEATURED | High Interest Savings Account (< $250k)
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High Interest Savings Account (< $250k)
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| 0 | 2000 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
HomeME Savings Account ($0 - $100,000) | |||||||||||||
| 0 | 200 | 1 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
Growth Saver ($1 - $25k) | |||||||||||||
| 0 | 1000 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
| For customers aged 14-35 years | |||||||||||||
Future Saver Account ( < $50k) | |||||||||||||
| 0 | 1000 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
Savings Maximiser (<$100k) | |||||||||||||
| 4 | 0 | 0 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | ||||||
| FEATURED | Savings Account (Amounts < $250k)
| ||||||||||||
Savings Account (Amounts < $250k)
| |||||||||||||
| 0 | 500 | 1 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
Goal Saver
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Goal Saver
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| 0 | 200 | 0 | $product[$field["value"]] | $product[$field["value"]] | $product[$field["value"]] | More details | |||||||
| No monthly fees | Save Account
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Save Account
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Image by Linfox via Armaguard
Brooke Cooper
Harry O'Sullivan
William Jolly
