Effective 1 July 2018, Nexus Mutual will no longer be part of the rediATM Network.
Transactions on rediATMs have been in steady decline as more members became aware that most banks have removed fees for non-customers to transact from their ATMs.
As the original benefit of the rediATM network to our members has now disappeared, we have decided to exit from the rediATM network. This will save our members approximately $60,000 in annual costs, which can be reinvested in other worthwhile, value-add initiatives.
Fee changes from 1 July 2018
- We are removing fees relating to EFTPOS transactions, so you’ll be able to make an unlimited number of EFTPOS cash withdrawals for free.
- Our exit from the rediATM scheme means that the operators will charge you for making transactions at rediATMs. You will also no longer be able to change your PIN's at a rediATM.
Removal of rediATM at Sale branch from 29 June 2018
With members’ reduced need for rediATMs, we have decided to remove the ATM in our Sale branch, saving members an additional $30,000 a year. We understand this may be a big change, but it is important that we’re spending our members’ funds wisely.
Have you tried our digital banking solutions?
We are moving to an increasingly cashless society – and Nexus Mutual is ahead of the pack with our suite of digital banking solutions.
Bank ‘on the go’ with our mobile banking app, use your smartphone like a card to tap and pay, or make real-time fund transfers using your email address, mobile number or ABN/ACN.
Frequently asked questions
1. Which ATMs can I withdraw cash from without paying fees?
You can make fee-free withdrawals from most bank-operated ATMs such as ANZ, Commonwealth Bank, National Australia Bank and Westpac. If an ATM charges fees, it will notify you on the screen and you can choose not to proceed with your transaction.
2. Will my Visa card or rediCARD still work at rediATMs?
Yes, your Visa card or rediCARD will still work at a rediATM. However, you will be charged a transaction fee from 1 July 2018. You will no longer be able to change your PIN on a rediATM.
3. Is there a difference between rediATMs and NAB rediATMs?
Yes there is. From 1 July 2018, transactions at NAB rediATMs are fee-free.
4. What other ways can I access my cash without paying a fee?
You can access your cash without paying fees over the counter at our Melbourne or Sale branch and at retailer EFTPOS checkouts, including supermarkets, department stores and petrol stations.
From 1 July 2018, we are removing fees relating to EFTPOS transactions, so you’ll be able to make an unlimited number of EFTPOS cash withdrawals for free.
If you need to withdraw more than $5,000 at our branch, please give us 24 hours’ notice.
5. Where can I change my PIN?
Members can come into the branch on weekdays from 9am to 5pm to change PIN's. Please contact us if you cannot come into a branch during business hours. We will soon be launching a digital solution, the details of which we will share with you in the coming months.