National Australia Bank has promised to keep a sufficient number of ATMs across its national framework, even though usage of the cash terminals are in decline.
"It is a very significant stark shift we are seeking as customers migrate away from cash," the bank's chief operating officer Antony Cahill told a parliamentary committee in Canberra on Thursday.
The House of Representatives economics committee was told bank customers are using different means for their day-to-day banking such as mobile devices for transactions and 'tap and go', as well as getting cash from retailers, such as supermarkets.
However, Labor MP Matt Keogh was concerned that having seen bank branches consolidate as ATM usage increased, this latest trend could see the less technological savvy without an option.
NAB chief executive Andrew Thorburn said the bank had to be competitive and offer different payment mechanisms.
"We have to have a balance here that we don't disadvantage customers in the change," he told the hearing of the third session of a government-initiated parliamentary review of the four big banks.
