NAB cuts ties with rediATM, stays fee free

NAB cuts ties with rediATM, stays fee free

Need to pull out money in Australia? NAB won’t be issuing a fee to its customers, nor to people who use NAB machines to pull out money from other banks.

The world of electronic contactless payments may be gradually eroding the traditional note and coin world of the wallet, but that doesn’t mean we’re totally cashless yet.

In fact, last year saw quite a few Australian banks make it more worthwhile to pull out money using an ATM, removing the fee that would be applied if you did so.

We all know what that fee is, and chances are if you’ve ever withdrawn money at a servo or a convenience store, you’ve been hit with a fee that was less than convenient just because you needed money, and possibly because the place you were buying from proudly displayed a hand-written sign declaring “cash only”.

This year, most of those fees appear to be disappearing, and keeping with that momentum, NAB has this week announced that it won’t be charging fees for NAB customers to pull out money at its ATMs, nor will it be charging a fee for customers of other banks to withdraw money at NAB ATMs.

However, because the rediATM network of ATMs does charge a fee, NAB has removed itself from rediATM’s support and service. That means while you may not be able to use an NAB card at a rediATM across the country, the NAB card should still work at thousands of other tellers, including those at post offices.

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Yes, most lenders that operate in Australia will let you set up a bank account online. The process is usually simple and takes five to 10 minutes. You will probably need to provide a passport or birth certificate, as well as a driver’s licence, Medicare card or another form of secondary identification. Requirements differ from lender to lender, so some institutions might ask for more or different forms of ID.

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How do you open a bank account under 18?

If you’re under 18 and you want to open an Australian bank account, you will need your passport or birth certificate. (Some lenders might require just a Medicare card or driver’s licence.) You can apply online or at a branch. If you’re 13 or under, you will probably need a parent to accompany you to a branch.

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One way to deposit change into your bank account is to visit a branch. Many lenders will also allow you to deposit your change through one of their ATMs.

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Transfers can be also made via internet banking and phone banking.

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There are some instances when the government can take money from your bank account. This generally occurs in situations where you have an outstanding government debt.

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