New Zealand's largest banks have sharply reduced their ATM networks, with ANZ cutting 85 machines in two years and Westpac removing 54, according to RNZ reporting. Bank-owned ATMs have dropped 32 percent over the past decade, while total bank branches have fallen 40 percent, the Reserve Bank said.

The banks say they are responding to falling cash use — only 1.5 percent of customer transactions now happen at ATMs — but consumer advocates warn that 40 percent of New Zealanders still use cash for everyday purchases. The Reserve Bank is preparing minimum standards for cash access, proposing that 95 percent of urban residents should have walking-distance access to free withdrawals, at an estimated cost to banks of $100 million a year, RNZ business (NZ) reports.