National Australia Bank (NAB) and
Cuscal have entered into an agreement to create an ATM network of
more than 3,100 terminals in Australia.
Under the agreement, NAB’s 1,700 ATM fleet
will combine with the Cuscal-managed 1,400 rediATM sub-network of
more than 100 participating retail financial institutions, to
create one of the largest ATM networks in Australia. All NAB-owned
ATMs will carry the NAB logo and all ATMs within the combined
network will display the rediATM logo.
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Approximately 7 million Australians will have
improved access to ATM banking free of direct charge, once
regulatory approvals have been received. NAB says that, based on
recent usage, bringing together the two networks will save each
other’s customers more than A$10 million ($8.1 million) in ATM
direct charges annually.
Cuscal is a business-to-business provider of
wholesale banking and transactional banking services.
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