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PNC drops ATM fees

PNC Bank, a member of the PNC Financial Services Group, will drop ATM fees worldwide for customers withdrawing cash from competitors' machines, the first major US bank to offer the service.

The Pittsburgh-based group, one of the largest lenders in the US mid-Atlantic region, said that in response to consumes’ feedback it will begin to waive the fees from September 1, 2006.

However, the waiver will only be available to customers who maintain a $2,500 average monthly balance in free checking accounts, or those who sign up for other accounts due to be launched on August 27, Reuters has reported.

Our goal is to become the primary bank for more customers and make their banking easier and more convenient. We believe free ATMs coupled with other enhancements will help us achieve that goal, said Joseph Guyaux, president of PNC.

The free ATM offer was expanded based on the positive consumer response in the Greater Washington Area since May 2005 when PNC acquired Riggs Bank.