CANBERRA: DBS Bank and POSB customers now have access to 3,000 ATMs in Australia. The partnership between DBS and Australian bank Westpac, announced yesterday, grants DBS and POSB customers access to Westpac ATMs while Westpac customers can use the 1,100 DBS and POSB ATMs in Singapore.
Withdrawals will be fee-free, though a 3 per cent foreign transaction charge still applies.It is hoped that the partnership would bring not just savings to customers but also greater convenience.
According to Westpac retail and business banking group executive Jason Yetton, about 300,000 Australians travel to Singapore yearly, with a similar number travelling from Singapore to Australia.
There are also around 50,000 Singaporeans living in Australia, with 7,300 studying in universities there, as well as 30,000 Australians living in Singapore.
“This partnership will benefit customers planning on travelling to Australia, one of the most sought-after travel destinations in the region for many Singaporeans,” said DBS deputy group head of consumer banking and wealth management Domenic Fuda.
He added: “For our Singaporean customers living, studying and working in Australia, this will provide fee-free ATM access to their DBS accounts.”
