ANZ sells 1300 ATMs to Lindsay Fox-backed Armaguard
ANZ has struck a deal to sell its fleet of 1300 ATMs nationally that are located away from branches to a company backed by a Melbourne billionaire. So what does it mean for bank customers?
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ANZ has struck a deal to sell its fleet of 1300 ATMs located away from branches to Armaguard Group, which is backed by Melbourne billionaire Lindsay Fox.
Customers of the bank will be able to continue to use the ATMs, which will be rebranded by the armoured guard business, for free.
But the deal raises the prospect that customers of other major banks such as the Commonwealth Bank, Westpac and National Australia Bank will be charged to use the ATMs, wich are scattered across locations such as shopping centres.
The major banks, led by CBA, moved to stop charging customers from rival banks for using their ATMs from late 2017.
Since then, the big four lenders have closed hundreds of ATMs and made moves to sell those not located at branches.
Westpac sold about 750 non-branch ATMs to Armaguard rival Prosegur Australia late last year. Armaguard also bought the RediATM fleet in 2019.
ANZ’s non-branch ATMs are set to transfer to Armaguard next year.
The bank will continue to operate about 900 ATMS located at branches as well as a number of “strategically important” locations.
In a statement on Friday, the bank said the sale was “another step in ANZ’s drive to simplify the business and its Australia retail and commercial operations in particular”.
ANZ has agreed to pay a service charge to Armaguard to cover the cost of their customers using the machines, meaning other banks could yet opt to do the same.
Armaguard is yet to unveil the new branding for the machines.
The business is part of Linfox Armaguard, owned by Mr Fox’s Fox Group.
One of his sons, Peter Fox, is executive chair of Armaguard.