NAB loses Coles ATM contract
Customers Limited will install at least 400 ATMs in Coles Express outlets by mid-2012, the firm announced yesterday.National Australia Bank has provided ATMs to Coles Express shops for the last five years. NAB was the runner up in the latest tender.Customers will provide the ATMs under a managed service agreement. This means Coles will set and retain all the fees levied on those making withdrawals and checking balances at the ATMs.NAB has one of the lowest ATM fees of any provider, at $1.50. Coles is still to determine its fee, though a rise to the industry norm of $2 is likely.Coles will apply its branding to the ATMs.