ACCC gives Suncorp/Bendigo ATM deal green light
(14 September 2010 – Australia) The Australian Competition and Consumer Commission (ACCC) have accepted an agreement between Suncorp and Bendigo and Adelaide Bank not to charge each others’ cardholders a transaction fee at any of their ATMs.
The ACCC’s chairman, Graeme Samuel, said in a statement that the watchdog considers the agreement to be ‘pro-competitive’.
"The ACCC considers the agreement between Suncorp and Bendigo Bank not to charge each other’s cardholders for ATM transactions will be pro-competitive, assisting to ensure that they are not at a competitive disadvantage to institutions with larger ATM networks, Mr Samuel said.
Prior to authorising the Suncorp/Bendigo agreement, the ACCC gave members of the rediATM network and Feesmart network authorisation not to charge each others’ cardholders for transactions at ATMs within their network.
"The ACCC considers the agreement between Suncorp and Bendigo Bank not to charge each other’s cardholders for ATM transactions will be pro-competitive, assisting to ensure that they are not at a competitive disadvantage to institutions with larger ATM networks, Mr Samuel said.
Prior to authorising the Suncorp/Bendigo agreement, the ACCC gave members of the rediATM network and Feesmart network authorisation not to charge each others’ cardholders for transactions at ATMs within their network.
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