Five of Singapore's largest retail banks - ABN Amro, Citibank, HSBC, Maybank and Standard Chartered - have waived the ATM transaction fee of $0.30 levied for each successful cash withdrawal at their ATMs operating under the atm5 network banner.
In a statement, the banks said that, with immediate effect, customers can use their existing cash card to access the shared network of more than 140 ATMs island-wide for cash withdrawal free of charge. Over the last 12 months, 25 ATMs have been added to the atm5 network.
Jonathan Larsen, Citibank’s Singapore chief executive officer and country business manager said: In the past one year, we have significantly expanded our distribution network including 22 separate ATM locations, and over 325 AXS locations island-wide.
Citibank’s participation in atm5 is a further expansion of our reach, allowing our customers easy access to over 140 ATMs throughout Singapore. The waiving of customer fees for atm5 transactions removes one of the few remaining barriers for customers to access Citibank’s range of products and services.