To provide with flexibility and choice for accessing funds
SBS Bank, a New Zealand-based bank, has signed an agreement with an independent ATM network supplier. The network allows cardholders access to cash withdrawals and balance enquiries. The non-bank suppliers Paymark, New Zealand ATM Service and ATM Plus have placed more than 300 ATMs into indoor locations throughout the country.
For the convenience of the handily located ATMs, cardholders will be charged a fee per cash transaction by the non-bank ATM suppliers, in addition to the normal withdrawal fee charged by SBS Bank.
Ross Smith, chief executive of SBS Bank said: “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.
“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.”