Customers Limited, Australia's leading ATM independent sales organization, today announced that it signed a three-year agreement with Citibank Australia that will expand bank's ATM network by a minimum of 150 machines within the next 18 months.
"The ATMs will be re-branded from Customers' existing fleet, which is the largest network of ATMs across Australia," said Tim Wildash, managing director of Customers, which is based in Chelterham, Victoria. Last year, Customers operated more than 5,600 machines.
Customers will rebrand its ATMs Citibank, and the New York-based financial institution has agreed to pay Customers an undisclosed branding fee, Wildash said. Customers and Citibank officials will select the sites for new ATM placements.
The agreement reflects a broader Citibank strategy for Australia and New Zealand, Roy Gori, CEO of Citibank Australia, said in a statement.
"Over the next 18 months to two years, we will be investing heavily in our brand and in our physical presence in Australia," Gori said in a statement. "This includes the revitalization of our existing branch sites with innovative technologies, the development of new branches in key strategic sites and, in alliance with Customers, the expansion of a branded-ATM network."
Citibank Australia, which is based in Sydney, in February signed a deal with Westpac Group, a banking company, which provided Citibank customers surcharge-free access to 1,700 Westpac ATMs. Citibank Australia also signed a similar contract with St. George Bank, which is part of Westpac Group. It is not known how many ATMs were included in the St. George deal.
The Customers Limited agreement coupled with Citibank's existing contracts gives Citibank customers access to one of the largest network of fee-free ATMs in Australia, Ajay Kashyap, Citibank Australia's head of retail banking, said in a statement.
According to Citibank Australia's website, customers have access to more than 20,000 ATMs throughout the country.
