The ACCC has issued a draft determination proposing to grant authorisation to enable Cardtronics to enter into agreements with financial institutions who become members of its proposed Allpoint and Allpoint+ ATM networks that Cardtronics will provide their cardholders with fee-free ATM transactions.

The Allpoint network is a proposed ATM network that will be owned and operated by Cardtronics. Cardholders of participating financial institutions will be able to access fee-free withdrawals across a substantial fleet of ATMs around Australia, that extends beyond the size and scope of the financial institutions’ own fleets.

The Allpoint+ network is a separate proposed network of advanced functionality ATMs and kiosks that will provide fee-free deposit transactions to cardholders of participating financial institutions.

The arrangements will allow smaller financial institutions to offer their customers a larger range of ATMs where they can access fee-free transactions, enabling them to better compete with the larger banks.  This is likely to mean greater choice for consumers and enhance competition for ATM and retail banking services. 

The ACCC is now inviting submissions about the draft determination, by 6 May 2022. A copy of the ACCC’s draft determination, and details about how to make a submission is available on the ACCC’s public register at Cardtronics.