A Next-branded ATM at Christchurch shopping centre Eastgate sparked concerns at the weekend when it displayed a message telling customers they would be charged $7.50 per transaction. In comparison, most banks no longer charge a fee for withdrawing cash from their own ATMs or those of other banks. We see that every day.”Claire Matthews, a banking expert from Massey University, said it was unlikely that private ATM providers were making big profits. A Reserve Bank spokesperson said Next and Allpoint were the two independent providers. Basoma said private ATMs were regulated by the Reserve Bank and Payments NZ.

Source: Stuff October 02, 2023 03:20 UTC