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The Australian arm of Dutch financial institution ING Group NV has launched a transaction account in Australia that enables customers to make unlimited ATM and domestic debit transactions, the bank says in a statement. The move comes after an announcement in August that ING hoped to gain more customers in Australia by following the lead of other banks that recently reduced similar fees (CardLine Global, 5 Aug.). ING does not operate an ATM network in Australia, the financial institution says, and the bank is not part of any independent ATM network. The bank says it will refund ATM charges, which can cost up to AU$2 per transaction, for any customer who initiates a transaction worth at least AU$200. More banks in Australia have reduced such fees as financial institutions anticipate legislation that would make it easier for consumers to challenge bank fees.
