ANZ bank building

Consumer win on ATM fees

ANZ’s decision to remove the $1 fee it charges customers for using another bank’s ATM follows a call from Consumer NZ for all banks to remove these charges.

Update: ASB, BNZ, Kiwibank, The Co-operative Bank and Westpac have announced they'll drop the fee as well.

×

Choose what’s right for you with confidence

Join today and get instant access to all test results and research.

Last year, Consumer NZ called on ANZ, ASB, BNZ, Kiwibank, The Co-operative Bank and Westpac to remove the fees. ANZ chief executive David Hisco decided to further investigate the matter. The bank found people regarded the fee as unfair because even though they were using another bank’s ATM, they were still accessing their own money.

The fee kicks in when a consumer uses another bank’s ATM. ANZ estimates it does 8 million such transactions annually.

It's announced it will remove the fee from 26 March. It is also reducing or simplifying other fees and charges this year. ASB will drop its ATM fee from 31 March; BNZ, The Co-operative Bank and Westpac from 1 April; and Kiwibank from 15 April.

Consumer NZ chief executive Sue Chetwin said this was a great outcome following the concerns it raised. She hoped all banks would follow.

Campaigns promo default

Our campaigns

We’re campaigning to end expiry dates on gift cards, prevent unwanted door-to-door salespeople, stop unfair contract terms and more. Learn more about these campaigns and get involved.

Learn more

Why join consumer promo img default

Why join Consumer?

We’re the only New Zealand non-profit to independently put the products and services you want to buy to the test. But most of what we do is funded by our members, for our members. Becoming a member means you’ll have even more ways to get a fair deal, and choose with confidence.

Learn more