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rediATMs set to double

15 July 2009

Members of Teachers Credit Union will soon pay even less in direct charges at ATMs, with the number of direct charge-free rediATMs set to more than double across Australia.

Teachers Credit Union use the rediATM network to offer their members direct charge free ATM transactions. Under a new agreement announced today, the National Australia Bank (NAB) will join Teachers Credit Union and more than 100 other financial institutions using the rediATM network, to offer their customers direct charge free ATM transactions.

With NAB’s 1,700 ATM fleet combined with the 1,400 rediATMs, this will give members’ access to 3,100 ATMs Australia-wide, providing significant cost savings to cardholders.

To assist cardholders, NAB ATMs will soon feature a rediATM logo, alongside the NAB logo.

“rediATM already provides convenient direct charge free access for our members to their cash,” said Steve James, Chief Executive of Teachers Credit Union. “With the upcoming expansion, the network we offer our members will be as good as, or better, than any other financial institution in Australia.”

“We are excited about the boost in size to the rediATM network. Our members will get more convenience for less cost. Having a major bank in the rediATM network by no means alters our mutuality or customer relationship focus, it simply offers scale and Australia-wide access benefits.

“Mutuals play an important role in providing competition and choice in the Australian retail banking market. The expanding rediATM network helps us compete and win on the ATM front. By accessing rediATMs, our members can easily avoid paying direct charges.”

An education campaign is being planned to help cardholders avoid direct charges when the expanded rediATM network becomes available in coming months.