You haven’t seen the last of ATM fees yet: NAB drops rediATMs
Just when you thought you’d seen the last of ATM fees, NAB has announced that as of 1 January 2019, it will no longer be part of the rediATM network, meaning customers will start paying fees at these ATMs.
There are 3,000 or so rediATMs around Australia, where NAB customers will start paying a $2 fee for withdrawing cash.
"NAB looks set to play the role of The Grinch this Christmas,” quipped Mozo spokesperson, Tom Godfrey.
However, there are still plenty of fee free ATM options for Aussie cash-savvy spenders. Earlier this year, all four big banks - including NAB - scrapped fees at their ATMs.
And if you are ready to say goodbye to ATM fees once and for all, a number of providers in the Mozo database will refund Australian ATM fees for customers. ING even takes it one step further, refunding fees for overseas ATMs up to $2.50 as well.
"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,” said Godfrey.
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But with card payments now more popular than ever, ATM fees may become a thing of the past simply because no one uses cash anymore.
At the Payments Summit in November, RBA Governor Philip Lowe told the Payments Summit, “Around the turn of decade, Australians went to an ATM, on average, around 40 times per year. Today, we go to an ATM around 25 times a year and the downward trend is likely to continue.”
And as we move away from cash, Aussie spenders are packing the plastic instead.
“Today, Australians make, on average, nearly 500 electronic payments a year, up from around 100 per year around the turn of the century,” Lowe said.
And given this growing preference for plastic, there’s unlikely to be any regulatory intervention into banks culling their ATM options.
Tony Richards, Head of Payments Policy Department at the Reserve Bank of Australia flagged in a speech that the RBA would “have an open mind” towards a shrinking ATM network.
He said “policy concerns could arise if there was a significant decline in ATM coverage that made it difficult for people to access cash,” but that “some sensible consolidation of the ATM network could result in a more efficient and sustainable ATM industry.”
So, if you’re getting ready to say goodbye to cash for good, make sure you’re set up with a bank account and debit card with all the payment technology. Check out some options below, or head over to our full debit card comparison table for more.
Debit cards today - last updated 23 April 2024
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Everyday Options
$0.00
Apple Pay, Google Wallet, PayID
Visa Debit
An easy, everyday banking account packed with flexible options to help you spend, budget & save better. $0 monthly account keeping fees & option to add up to 9 sub-accounts.
CompareCompareEveryday Options
An easy, everyday banking account packed with flexible options to help you spend, budget & save better. $0 monthly account keeping fees & option to add up to 9 sub-accounts.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet, PayID
- what kind of card
- Visa Debit
- interest rate
- Balances from $0: 0.00% p.a.
Balances from $1: 0.01% p.a.
- fee-free transactions
- Unlimited free transactions from own-bank ATM, atmx ATM, Big 4 banks ATM, EFTPOS, counter withdrawals, counter deposits, phone and internet
Read our Mozo Review to learn more about the Suncorp Everyday Options
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Everyday Global Account
$0.00
Apple Pay, Google Wallet
Visa Debit
No overseas ATM fees & up to 10 currencies in one account. Switch between currencies instantly 24/7 wherever you are using the mobile app. Receive 2% Cashback on eligible tap and pay transactions under $100. Mozo's Experts Choice 2023 winner for Exceptional Everyday Account.^
CompareCompareEveryday Global Account
No overseas ATM fees & up to 10 currencies in one account. Switch between currencies instantly 24/7 wherever you are using the mobile app. Receive 2% Cashback on eligible tap and pay transactions under $100. Mozo's Experts Choice 2023 winner for Exceptional Everyday Account.^
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet
- what kind of card
- Visa Debit
- interest rate
- Balances from $0: 0.00% p.a.
- fee-free transactions
- Unlimited free transactions from HSBC ATMs, EFTPOS, phone, internet, BPAY and direct debits
Read our Mozo Review to learn more about the HSBC Everyday Global Account
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Carbon Insights Account
$0.00
Apple Pay, PayID, Google Pay
Visa Debit or
EFTPOSAn online-only transaction account with carbon insights available through the Suncorp App. $0 monthly account keeping fees & option to add up to 9 sub-accounts.
CompareCompareCarbon Insights Account
An online-only transaction account with carbon insights available through the Suncorp App. $0 monthly account keeping fees & option to add up to 9 sub-accounts.
- account fee
- $0.00
- Payment Options
- Apple Pay, PayID, Google Pay
- what kind of card
- Visa Debit or
EFTPOS
- interest rate
- Balances from $0: 0.00% p.a.
Balances from $0.01: 0.01% p.a.
- fee-free transactions
- Unlimited free transactions from own-bank ATM, atmx ATM, Big 4 banks ATM, EFTPOS, counter withdrawals, counter deposits, phone and internet
Read our Mozo Review to learn more about the Suncorp Carbon Insights Account
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Transaction Account
$0.00
Apple Pay, Google Wallet, PayID
Debit Mastercard
Earn interest on all balances. No monthly account fees. Winner of a Mozo Experts Choice Australia's Best Bank 2023^.
CompareCompareTransaction Account
Earn interest on all balances. No monthly account fees. Winner of a Mozo Experts Choice Australia's Best Bank 2023^.
- account fee
- $0.00
- Payment Options
- Apple Pay, Google Wallet, PayID
- what kind of card
- Debit Mastercard
- interest rate
- Balances from $0: 4.75% p.a.
Balances from $1,000,000.01: 3.35% p.a.
- fee-free transactions
- Unlimited free transactions from any Australian ATMs, phone, internet, BPAY and direct debits
Read our Mozo Review to learn more about the Macquarie Transaction Account
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Smart Access
$4.00$0 monthly account fee if you deposit min. $2,000 per month or under 30 years old.
Apple Pay, Google Wallet, PayID, Samsung Pay, Garmin, Fitbit
Debit Mastercard or
EFTPOSCompareCompareSmart Access
- account fee
- $4.00$0 monthly account fee if you deposit min. $2,000 per month or under 30 years old.
- Payment Options
- Apple Pay, Google Wallet, PayID, Samsung Pay, Garmin, Fitbit
- what kind of card
- Debit Mastercard or
EFTPOS
- interest rate
- Balances from $0: 0.00% p.a.
- fee-free transactions
- Unlimited free transactions from network ATMs, EFTPOS, counter deposits, phone and internet
Read our Mozo Review to learn more about the Commonwealth Bank Smart Access
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