If you need to draw cash regularly from your savings account, it could be best to have an account with one of the banks that has the most ATM’s in Australia, to avoid paying an ATM withdrawal fee of about $2.00
Or is it ?
The Commonwealth Bank, in association with BankWest have just under 3,700 ATM’s where you can make free withdrawals.
The NAB, in association with Bank of Queensland and RediATM, have just over 3,400 ATM’s.
Westpac and St George have almost 2,900 ATM’s.
ANZ Bank have over 2,600 ATM’s.
Bendigo Bank and Suncorp have almost 1,500 ATM’s.
However…. those numbers pale into insignificance when you also realise that there are another 85,000+ places where you are able to withdraw cash around Australia with your debit card.
Just about every Coles and Woolworths will be happy to give you some cash when you are at their counters. In fact, as you hand over your card to pay for your purchases, they almost always say something like: “Would you like some cash with that ?”
And it isn’t only Coles and Woolworth’s that will do that. One reason is that most banks charge these businesses for depositing CASH into their accounts. They are therefore happy to offload their excess cash to you.
Do you pay any of the banks a $2 or $1.50 fee just for getting cash out ?