National joins redi ATM network
National Australian Bank has linked its ATMs to Cuscal's redi ATM network, creating a fleet of 3100 cash machines that can be used without charge by NAB customers and the customers of the 50 other redi ATM network members.NAB group executive for personal banking Lisa Gray said the bank had 1700 ATMs and planned to continue investing in the network. It will add another 100 machines in the next few months.The NAB machines will be co-branded with the NAB and redi brands. NAB will maintain its $1.50 foreign ATM charge.Cuscal managing director Craig Kennedy said network partners set their own pricing policies. Cuscal imposes a $2 cap on foreign charges and Kennedy said the most common charge was $1.75.Cuscal is the scheme administrator for 50 ATM owners in the redi network. Most are credit unions and building societies but earlier this year AMP Banking joined the network.Cuscal has been looking to grow its network in response to the introduction of direct charging.Kennedy said: "As a result of direct charging ATM activity is coming home. Since March, transactions on our machines by our members are up 30 per cent, while foreign usage of redi ATMs is down 10 per cent."Since these reforms the last thing you want is for your members to have to use a foreign machine."Kennedy said the distribution of the NAB network was complementary with the redi ATM distribution. And one third of the machines in the expanded network are in non-metropolitan locations.