The persistent need for cash, despite calls to eliminate its use, requires convenient points of access. Banks and credit unions are beginning to re-evaluate surcharge-free ATM opportunities, realizing that competitive pressure comes not just from other mainstream financial institutions (FIs) but also from providers of general purpose reloadable prepaid cards and alternative financial services companies.
With the general rise in surcharge fees, FIs offering
surcharge rebate accounts need to calculate the economics of their rebate
expenses against offering access to surcharge-free locations. Surcharge-free
networks are also finding their way into strategies for branch expansion as
well as branch closures and as an alternative to FI-operated, off-premise ATM
May 9, 2017 at 1 pm
EST/12 pm CST, join
Cardtronics’ Bill Knoll, EVP US Financial Institution Business, and Mercator
Advisory Group Director Sarah Grotta, as they discuss new trends in the
surcharge-free ATM industry and how financial institutions are looking at
surcharge-free as an integral part of their go-forward cash strategies.
Director – Marketing Strategy, Financial Institutions