NAB defies RBA on ATM fees

National Australia Bank has announced that it will continue to charge its customers a fee for using ATMs owned and operated by its competitors after the new direct charging regime is introduced in March. The announced plan means that NAB customers will be charged twice for using a rival ATM that is not owned by NAB. Under the new system, the ATM owner charges the customer directly, rather than charging their bank. The RBA previously said that banks would have no case to continue to levy fees on their own customers for using a rival ATM. “Wherever possible, our customers should use an NAB ATM,” said a NAB spokesman. “We are pleased to be in a position to adjust the non-NAB ATM fee to 50c – a significant reduction from the current cost of $2”, he said.

Source: Daily Telegraph