After several months we were bound to find an ATM provider breaking away from their initial direct charge fee structures once they saw the lie of the land. It appears that that first ATM provider to alter their direct charged fees is rediATM.
Before I go on, it is worth noting that rediATM is not one ATM provider, but essentially a syndicate of smaller ATM providers that have an ATM brand banded together under the rediATM mark and spearheaded by Cuscal. The providers of the ATMs under the rediATM brand are usually the smaller institution such as credit unions.
Originally, we noted that all the rediATMs we tested were $1.75 for a cash withdrawal, and free for a balance enquiry (showed as $0.00 on the screen). This was also substantiated in reports from the field by readers of ATM Fee Tracker.
Whilst on a trip interstate I came across a rediATM installed in a restaurant. As I always do with ATMs in unusual locations, I tried it out. It offered me a balance enquiry at a cost of $1.00 and a cash withdrawal for $2.00. I took some cash out to get a hint at who the provider was and it turned out as Savings & Loans Credit Union. There was a second rediATM installed in the local Saving & Loans branch a couple of kilometers down the road which also charged the same direct fees.
On my return home I honed my ATM seeking cruise missile to the local rediATM in a CUA branch which we had previously tested. This one was charging $1.00 for an balance enquiry and $1.75 for a cash withdrawal. Again, the free balance enquiry was gone.
A little further afield from home I found a freestanding rediATM in a shopping centre food court. This one asked for $1.00 for a balance enquiry and $2.00 for a cash withdrawal just like the Savings & Loan ATM across the border.
In previous correspondence with Cuscal by ATM Fee Tracker Australia, they noted that each ATM provider is free to set their own direct charge fees. We are sure, though, that Cuscal provides ‘guidance’ to their ATM sub network providers as to what they should charge.
I can only conclude from this that the days of rediATM operators playing nice and offering free balance enquiries and some of the cheapest cash withdrawals of any ATM network are gone. Sure, a $1.00 balance enquiry is still cheap compared to much of the competition, but surely it doesn’t cost that much if the NAB can do it for 50 cents. And with a variable cash withdrawal fees across the different providers in the rediATM network, you won’t know what you are up for until you see the number on the screen should you choose the rediATM. It may not end up being worth lining up for a rediATM to get cash out in some cases when there is another brand of ATM close by with no line!
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