Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

SBS Bank joins independent ATM network

SBS Bank joins independent ATM network

Access to cash just got a lot easier for SBS Bank customers following SBS Bank’s decision to sign up with an independent ATM network supplier.

Non-bank suppliers Paymark, New Zealand ATM Service and ATM Plus have placed more than 300 ATMs into indoor locations such as service stations, convenience food stores, supermarkets, restaurants and hotel foyers throughout the country. The network allows cardholders greater access to cash withdrawals and balance enquiries.

SBS Bank chief executive Ross Smith said the arrangement with the ATM convenience network was in addition to existing ATM services for SBS Bank cardholders.

“The independent ATM programme went into full production with the support of the majority of trading banks in May this year. Our decision to join was based on being able to provide our members with even greater flexibility and choice when it comes to accessing their funds.

“At SBS Bank we’re always exploring new ways to further enhance our products and, while we cannot always offer every bank product to our members, we can assure that the ones we do offer will always come with exceptional service,”

For the convenience of the handily located ATMs, cardholders are charged a fee per cash transaction by the non-bank ATM suppliers. Mr Smith said this fee would be in addition to the normal withdrawal fee charged by SBS Bank.

“SBS Bank cardholders will not be caught unawares by the additional fee. The ATM will disclose the fee and request the customer’s approval of it, on-the-spot, prior to proceeding with the cash withdrawal. If the fee does not suit our customers, they can decline to proceed with the withdrawal.”

The completed cash withdrawals made through the ATM convenience network would then appear on customers’ banks statements as a total amount with the location of the ATM identified.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: Auckland Population May Hit 2 Million In Early 2030s

Auckland’s population may rise from about 1.7 million currently to 2 million by early next decade, Stats NZ said today. “Auckland will likely have the highest average annual growth of New Zealand’s 16 regions over the next 30 years, from ... More>>


Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>

LPG Association: Renewable LPG Achieves Emissions Budgets With No Need To Ban New LPG Connections

Renewable LPG can supply New Zealand’s LPG needs and achieve the emissions reductions proposed by the Climate Commission without the need to ban new connections, a new study shows. The investigation, by leading consultancy Worley, was prepared for the ... More>>