NZ's Shrinking ATM Network Leaves Rural Residents Without Cash Access
New Zealand's ATM network has shrunk in recent years, leaving some areas without access to cash machines. According to RNZ research, there are now just over 1000 access points for cash around the country, down from about 3000 ATMs.
About half of these remaining ATMs are owned by non-bank providers. People living on Great Barrier Island, Haast, Tuatapere, Omarama, and Milford Sound have to travel long distances to access a cash machine.
Haast residents said they manage without an ATM, with one staff member at the Hard Antler Bar and Restaurant saying 'it would be nice to have one but we manage just fine without.' Others expressed concerns about security risks associated with having an ATM in small towns.
The Reserve Bank wants to ensure access to a free cash point for 95% of people living in urban areas. It has identified 24 rural settlements that need cash services, including Ngakawau and Omakau. University of Otago economist Murat Ungor said declining access to ATMs is a significant problem, particularly for vulnerable communities.