The ACCC has issued a determination granting authorisation to enable Cardtronics to agree with financial institutions who become members of its proposed Allpoint and Allpoint+ ATM networks that Cardtronics will provide their cardholders with surcharge-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 surcharge-free withdrawals across a substantial fleet of ATMs around Australia, that extends beyond the size and scope of the financial institution's own fleet.
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 surcharge-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.
View a copy of the ACCC’s determination.