SINGAPORE - DBS Bank and Australian bank Westpac have partnered to offer their customers access to ATMs in both countries.
DBS customers can access Westpac's 3,000 ATMs in Australia fee-free, while Westpac customers can likewise use more than 1,100 DBS and POSB ATMs in Singapore.
This can bring great convenience and savings to customers in both countries as the transactions are fee-free, except for the 3 per cent foreign transaction payment, the banks said in a joint press release on Wednesday.
Said Domenic Fuda, DBS deputy group head of consumer banking and wealth management: "This partnership will benefit customers planning on travelling to Australia, one of the most sought after travel destinations in the region for many Singaporeans. For our Singaporean customers living, studying and working in Australia, this will provide fee-free ATM access to their DBS accounts."
Said Westpac retail and business banking group executive Jason Yetton: "Every year some 300,000 Australians travel to Singapore and around the same number of Singaporeans travel to Australia," he said.
The partnership hopes to bring added convenience to these travellers as well as the 50,000 Singaporeans living in Australia, 7,300 Singaporeans studying in universities here and the 30,000 Australians living in Singapore.