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National Australia Bank customers will be hit with a $2 fee from January 1 for using some ATMs

Loyal National Australia Bank customers will be slugged fees for using thousand of ATMs they have been able to access free since 2009.

David Koch- Enjoy the silly season without being silly with your money

Exclusive: Loyal National Australia Bank customers will be slugged fees for using thousand of ATMs they have been able to access free since 2009.

The banking giant has been labelled the “grinch this Christmas” after it revealed it would be parting ways with the RediATM network.

The network has more than 3000 machines nationally.

MORE: Big four banks shut branches and remove ATMs in droves

From January 1 customers will be stung $2 each time they use these machines — a move that is likely to annoy many NAB customers who have become accustomed to using these machines for free.

Financial comparison website Mozo’s spokesman Tom Godfrey said while many ATM charges had been stamped out they were far from gone for good.

“Just when you thought the days of ATM fees were over, NAB customers will soon have to pay to access the 3,000 or so Redi ATMs,” he said.

“With ING, Macquarie and ME Bank happily refunding customers who use private ATMs, if you’re sick and tired of these fees it’s time to move your money.”

The change from next month will not impact NAB customers using NAB-branded ATMs that are not linked with the RediATM network.

National Australia Bank is ceasing its relationship with the RediATM network.
National Australia Bank is ceasing its relationship with the RediATM network.

But a NAB spokeswoman defended the move and said Australians had continued to shy away from using cash.

“The way Australians are using cash is changing fast with ATM use declining by 20 per cent over the past five years,” she said.

She said NAB customers could still withdraw cash free-of-charge from more than 7000 ATMs nationally.

“For this reason NAB has decided to no longer be part of the RediATM network from January 1, 2019,” the NAB spokeswoman said.

The decision comes not long after News Corp revealed NAB was the worst offender among the big four banks for closing the largest number of bank branches and removing the most ATM in the past year.

NAB shut 71 branches and removed 339 ATMs in the past 12 months.

News Corp figures found in the past year the other big banks have also removed many ATMs including Westpac (including BankSA, Bank of Melbourne and St George) 270, ANZ 115 and CBA 10.

In 2017 the big four bank collectively ditched ATM fees, meaning regardless of who Australian banking customers have accounts with these could use these machines for free.

sophie.elsworth@news.com.au

@sophieelsworth

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Original URL: https://www.heraldsun.com.au/business/national-australia-bank-customers-will-be-hit-with-a-2-fee-from-january-1-for-using-some-atms/news-story/d95996e6eed2d18728fc5ffcebb564d2