ATM Direct Charging Changes to ATM fees for Homeside and NAB customers
As you may be aware, the Reserve Bank of Australia, together with the banking and finance industry is changing the way customers are charged for using ATMs that don’t belong to their financial institution.
The changes, effective 3 March 2009, are designed to make ATM fees more transparent so ATM users can make better choices about the ATMs they use.
Two types of fees
There are now two different types of fees that your clients may be charged when performing a withdrawal or balance enquiry at a non-NAB ATM:
Direct Charge (also called an ATM owner fee) or Non-NAB ATM fee
1. Direct Charge
This is the fee that the ATM owner will charge your client to use their ATM. The amount of the fee may be different for each ATM owner or type of transaction and will be charged to your client’s account at the time when they make their transaction.
From 3 March 2009, each time your clients use an ATM in Australia belonging to another ATM owner, the ATM will display the amount of the direct charge.
Your clients will then have the option to:
• Agree to the charge and continue the transaction, or • Cancel the transaction without incurring the fee.
2. Non-NAB ATM fee
This is the fee that NAB may charge your client for using a non-NAB ATM. From 3 March 2009, NAB will decrease this fee for transaction and savings accounts from $2.00 to $0.50.
Tips for minimising fees
We recommend NAB and Homeside customers use the following methods:
Use one of NAB’s 1600 ATMs whenever they can, to avoid the ATM owner and non-NAB ATM fees. They can check nab.com.au for a list of locations, including selected Coles Express service stations and Coles supermarkets. Withdraw extra cash when they use EFTPOS. Arrange access to NAB Internet Banking or Homeside Telephone Banking to check account balances (fees may apply to some of these options). To avoid overdrawing their account, your clients should make sure they have enough money in their account to cover both their transaction and the ATM owner fee.
We will be writing to your clients advising them of this change and providing them with the 'ATM Fee Reform' brochure from the Australian Payments Clearing Association (APCA).
If your clients would like further information about ATM Direct Charging, they can call Homeside on 13 22 18 or visit the Australian Payments Clearing Association site.
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