ATM growth stunted
(18 July 2010− New Zealand) Australia and New Zealand Banking Group are in the final stages of negotiations which will allow an independent ATM network to roll out hundreds of machines across the nation; however ASB is not yet supporting the program stunting growth.
The two companies, NZ ATM and ATM Plus, are set to increase the number of ATMs across the country, however over 1500 transactions a month are necessary for the business model to be successful and profitable.
Having two of New Zealand’s largest banks not yet signed onto the programme and therefore not allowing their customers access to the machines has slowed the development of the network.
NZ ATM, which currently has 100 machines in use, is aiming to have increased the network to 600 by Christmas this year, Wibo Bosma, sales development manager for NZ ATM said.
Mr Bosma added that ASB is insisting that its customers receive adequate service through the Eftpos network if a major bank ATM is not available.
They are quite arrogant in their position in not allowing their customers to have a choice, Mr Bosma added.
The bank is forgetting its customers in provincial and rural New Zealand, as well as tourists, putting a significant burden on businesses to hold and dispense cash. Independent ATMs allow balance checks and withdraw up to daily limits, which are often not possible through Eftpos, Mr Bosma highlighted.
Ian Park, ASB's retail banking chief executive, said connecting to independent ATMs has not been ruled out.
To date, ASB has had extremely minimal demand from ASB customers for independent ATMs. This may be because ASB customers can already access cash for no fee from ASB's own 457 ATMs and, for a nominal fee of only 75c, through an additional 2000-plus other bank ATMs throughout New Zealand, Mr Park added.
Mr Park said experience in other countries shows that this free customer service may be detrimentally affected by the substitution of independent ATMs, with customers paying significantly higher fees for cash than they do now.
ATM Plus is also poised to boost the size of its network.
Founder David Dickinson said he has 300 machines in the field and another 400 ready to roll out. He said ATM Plus has put machines in areas the banks don't service, such as Franz Josef and Fox Glacier.
Mr Dickinson said ASB is trying to control where people spend money and where they can access cash, and that New Zealand has half the number of ATMs per head of population as Australia, Mr Dickinson said.
Having two of New Zealand’s largest banks not yet signed onto the programme and therefore not allowing their customers access to the machines has slowed the development of the network.
NZ ATM, which currently has 100 machines in use, is aiming to have increased the network to 600 by Christmas this year, Wibo Bosma, sales development manager for NZ ATM said.
Mr Bosma added that ASB is insisting that its customers receive adequate service through the Eftpos network if a major bank ATM is not available.
They are quite arrogant in their position in not allowing their customers to have a choice, Mr Bosma added.
The bank is forgetting its customers in provincial and rural New Zealand, as well as tourists, putting a significant burden on businesses to hold and dispense cash. Independent ATMs allow balance checks and withdraw up to daily limits, which are often not possible through Eftpos, Mr Bosma highlighted.
Ian Park, ASB's retail banking chief executive, said connecting to independent ATMs has not been ruled out.
To date, ASB has had extremely minimal demand from ASB customers for independent ATMs. This may be because ASB customers can already access cash for no fee from ASB's own 457 ATMs and, for a nominal fee of only 75c, through an additional 2000-plus other bank ATMs throughout New Zealand, Mr Park added.
Mr Park said experience in other countries shows that this free customer service may be detrimentally affected by the substitution of independent ATMs, with customers paying significantly higher fees for cash than they do now.
ATM Plus is also poised to boost the size of its network.
Founder David Dickinson said he has 300 machines in the field and another 400 ready to roll out. He said ATM Plus has put machines in areas the banks don't service, such as Franz Josef and Fox Glacier.
Mr Dickinson said ASB is trying to control where people spend money and where they can access cash, and that New Zealand has half the number of ATMs per head of population as Australia, Mr Dickinson said.
Subscribe