While the proportion of electronic banking transactions continues to climb, a Westpac initiative that lets people get coins out of its ATMs is proving a winner.
For the past two months, people using one of Westpac’s 157 smart ATMs (a quarter of all Westpac ATMs across the country) have been able to access the exact dollar amount they need at any time.
Westpac’s Beverley Muir says it has been remarkably popular with a broad range of the bank’s customers.
“Initially, we expected it to help people on a tight budget, who can’t or don’t want to round up their withdrawal to the nearest $20,” says Beverley.
However, Beverley says being able to withdraw odd amounts has also been welcomed by people who are taking out a couple of coins for everything from kids’ pocket money to sausage sizzles.
“Customer feedback has been fantastic – and the volume of transactions, in a market where total cash withdrawals are falling, has been a real surprise,” says Beverley.
Westpac is looking at rolling this initiative out more widely, with a further eight ATMs to be coin-capable by the end of the year.
Click here to hear Shona McMahon talking to RadioNZ’s Nona Pelletier about the popularity of Westpac’s smart ATMs.