Commonwealth Bank becomes first bank to axe ATM fees

The Commonwealth Bank has decided it will no longer charge customers of other banks to withdraw cash from its ATMs.

The Commonwealth Bank now won't charge customers from other banks to use its ATMs. Source: AAP

The Commonwealth Bank has become the first bank to axe fees for customers of other institutions using its ATMs to withdraw cash.

Reserve Bank of Australia data shows Australians made more than 250 million ATM withdrawals from banks other than their own last year.

Matt Comyn, Group Executive, Retail Banking Services, says Australians have complained for some time about being charged fees for using another bank's ATM.

"As Australia's largest bank, with one of the largest branch and ATM networks, we think this change will benefit many Australians and hopefully demonstrate our willingness to listen and act on customer feedback," he said in a statement on Sunday.

No ATM withdrawal fee access applies to the 3,400 CommBank-branded ATMs but excludes Bankwest ATMs and customers using overseas cards.