Moneybox enters German ATM network venture

Moneybox enters German ATM network venture

Moneybox Corporation has entered a partnership with GE Capital subsidiary Service Bank to deploy 2000 convenience ATMs across Germany.

Under the deal, Moneybox will act as the deployment partner to Service Bank, responsible for locating potential sites and subsequently operating all of the ATMs. The ATMs will be installed in convenience locations around Germany, such as petrol forecourts, supermarkets, leisure sites and transport hubs.

Vincent Isaacs, chairman of Ambient, the majority shareholder of Moneybox, says: "We regard Germany as a key European market for Moneybox's expansion and we are pleased to be working so closely with Service Bank...We aim to make Moneybox a leading independent provider of convenience ATMs internationally and are looking closely at other opportunities for expansion in Europe."

Robert Law, CEO of Service Bank, comments: "Recent consumer research has suggested that there is a strong demand from the German public for more ATMs in convenience locations, such as petrol stations, train stations and shops. Moneybox were the ideal partner for Service Bank in this venture, having a proven track record in the UK and more recently the Netherlands."

Since its launch in 1999, Moneybox has become the largest independent provider of ATMs in the UK with an installed and contracted estate of close to 2000 ATMs across the country, predominantly in convenience stores, leisure and transport locations. In September 2001, Moneybox agreed a strategic partnership with SNS bank to jointly launch and operate an estate of convenience charging ATMs in the Netherlands.

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