OCBC, UOB waive fees for withdrawals from each other's ATMs

Singapore

AS BANKS rethink their ATM networks amid a huge digital drive, OCBC and UOB have - for a while - cut fees for customers who frequently use the two banks' shared automated teller machine network, and hope to increase the usage by at least another 10 per cent.

In a joint statement, the banks said since the start of April, they have waived fees for customers of OCBC and UOB to withdraw cash from either bank's ATMs, which total over 1,200 in Singapore. The promotion ends on Dec 31.

Previously, both banks would charge 30 Singapore cents per transaction from the third cash withdrawal within a month by a…