WASHINGTON - Allpoint ATM Network, the nationwide ATM network whose pricing vehicle has proven popular with some credit unions, has taken steps to sign more community banks on as clients. Headquartered in Bethesda, Maryland, the Allpoint Network serves as a mediator between ATM deployers and financial institutions that wish to...
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WASHINGTON – Allpoint ATM Network, the nationwide ATM network whose pricing vehicle has proven popular with some credit unions, has taken steps to sign more community banks on as clients. Headquartered in Bethesda, Maryland, the Allpoint Network serves as a mediator between ATM deployers and financial institutions that wish to offer their customers or members fee-free ATM access. An Allpoint client institution pays a fee to the network based on its on ATM client base and, in exchange, its customers or members get fee-free access to the Network’s 30,0000 ATMs nationwide. While credit unions are, numerically, the majority of Allpoint’s client financial institutions, the network has long sought to establish relationships with community banks which often have ATM needs similar to those of credit unions. Now, almost 1,100 of the nation’s community banks will have the opportunity to sign up at a preferential rate thanks to an agreement between Allpoint and America’s Community Bankers, a trade association representing almost 1,100 community banks. The deal with ACB represents something of a landmark for Allpoint. “Getting the endorsement of a major banking trade association is huge for us,” said Ben Psillas, president of the Network, pointing out that it will help Allpoint further make the case that it is more than an up and coming ATM option. Previously, Psillas has noted that banks and credit unions have reacted differently to Allpoint’s marketing efforts, with credit unions more willing to tell other credit unions about Allpoint and bankers being more reserved. But Psillas said the ACB deal had taken place because the association had sought out the network and inquired about a possible relationship. Robert Schmermund, ACB spokesman, said the ACB went to Allpoint in response to a survey of its membership in which, he said, more than 70% of the members had listed ATM access as one of the leading customer service issues. The Network also announced a deployer alliance with NetBank Payment Systems last week that hiked its total ATMs nationwide to more than 30,000. Netbank Payment Systems is a subsidiary of NetBank Inc. “NetBank Payment Systems’ portfolio of ATMs is a great complement strategically and geographically to our existing 25,000 surcharge-free ATMs,” said Psillas. “All 6,000 NetBank Payment System ATMs are located in retail locations, and the additional ATMs provide a significant boost in the number of surcharge-free ATMs in many key markets, including California, Illinois, Virginia and the entire Midwest and Southeast,” he added. -
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