NATIONAL Australia Bank is the final of the big four to dump ATM charges for all Australians today, following in the footsteps of its major rivals.

Late Sunday, NAB revealed it was dumping the $2 charge after ANZ, Westpac and CBA moved to ditch the fee.

ANZ’s group executive Fred Ohlsson said the bank knows the charges is “most unpopular.”

“This is another example of acting on customer feedback as well as genuine reform from the industry,’’ he said.

Following in the footsteps of the nation’s largest bank, the Commonwealth Bank, Westpac revealed it will permanently ditch the $2 charge for all Australians using any ATM in their network which has more than 2900 machines.

The change will also apply for banking customers using St George, Bank of Melbourne and BankSA machines — they will not pay a fee to access cash.

The bank’s group executive of consumer, George Frazis, said they want all Australians to use their ATMs without being stung.

“This will make it more convenient for millions of Australians to conveniently obtain cash, with no additional fees. It will particularly assist Australians in rural and regional areas,’’ he said in a statement.

“We understand that the ‘foreign ATM’ fee has been deeply unpopular with consumers.”

The change will be implemented in the coming weeks.

The most hated of all bank charges — the ATM fee — is set to be consigned to history in what would be a $500 million a year win for consumers.

The catalyst is a shock move by the Commonwealth which is making its 3400 ATMs fee-free for any user, regardless of who they bank with, from today.

Consumer group Choice’s spokesman Tom Godfrey said the decision could trigger the death of the ATM fee.

“Accessing your money from a bank account is an essential service that should be free for everyone, rather than an inconvenience with a penalty attached,’’ Mr Godfrey said.

“The move by the Commonwealth Bank to stop charging non-customers to withdraw money is a win for consumers and sends a clear message to other banks that it’s time to axe these fees.”

Federal Treasurer Scott Morrison applauded the big banks for dumping ATM fees.

“I will always welcome positive initiatives from banks that put customers first, and this is one of them,” Mr Morrison said.

“So well done Commonwealth Bank. The ball is now in the court of CBA’s competitors to match them.”

Australians forked out about $500 million in fees in the past year for withdrawals from ATMs owned by institutions other than their own, News Corp Australia analysis of RBA data finds.

Women and young adults are more likely to pay the charge rather than trek to their own bank, according to surveys by financial product comparison websites.

About 40 per cent of the 50 million cash machine withdrawals a month has a charge attached.

CBA’s group executive of retail banking services Matt Comyn said ATM fees had long been “unpopular” and consumers were fed up with been stung.

Research by other lenders has found cash machine charges are the most loathed of all bank fees.

“It’s very unpopular and I’m sure people will be happy that they no longer have to pay it and to have access to the largest ATM network in the country for free has to be a good thing,” Mr Comyn said.

“It’s hopefully a small but significant change and positive step that will impact all Australians.”

From today, users of CBA ATMs will be alerted that withdrawals will be free of charge.

The Commonwealth’s surprise move comes after a horror run of negative publicity including scandals in its insurance and financial planning divisions. It is also facing Federal Court proceedings in which the Australian Transactions Reports and Analysis Centre alleges the bank failed to assess the risk of money laundering or terrorism financing via deposit machines. AUSTRAC claims the bank failed to comply with the law on 53,700 occasions.

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