NAB issues ATM advice

NAB has advised its bank account customers that from March 2009, any ATM charges imposed by other banks will be displayed at the time of transaction, giving them the option to accept the levy or find another machine.

The new direct charging rules have been introduced in a bid to take the sting out of cross-bank ATM charges.

NAB warns: “The fee may differ across ATMs, depending on the ATM owner or type of transaction. You may also be charged a fee by your own institution for using another owner’s ATM.”

To avoid getting charged when taking out cash on a debit card, the bank account provider recommends using its own ATMs, including those in Coles stores and service stations, wherever possible.

Meanwhile, taking out cash when making an EFTPOS transaction using a debit card or credit card can also be a smart way to avoid the handling fees.

Fellow bank account provider RBA has issued similar guidance to its customers, insisting that the industry-backed scheme will help to increase competition and benefit consumers.ADNFCR-1761-ID-18999330-ADNFCR