Citibank has inked a deal to provide free ATM services to customers at more than 5500 7-Eleven convenience stores across the US. Financial terms of the contract were not disclosed.
Under the agreement Citibank will brand ATMs in 7-Eleven stores in 31 states.
Citibank says the deal will provide its customers with access to a much larger network of surcharge-free ATMs.
Maura Markus, president of Citibank North America, comments: "By partnering with 7-Eleven, we're increasing our ATM locations five-fold, this means greater accessibility and ease for our customers and 5,500 more locations for surcharge-free cash transactions. Banking with Citibank is now more convenient and can be done while you're picking up 7-Eleven favourites like coffee, newspapers and fresh-made sandwiches."
In addition, the bank says 7-Eleven will soon be able to accept consumer bank deposits.
The move follows last week's launch of Citibank Direct, a new Internet banking service that offers accounts with higher interest rates which is being introduced in a bid to attract more US customers to its Web banking channel and stem a decline in consumer banking profit.
The bank also plans to open 100 new branches and launch a mobile phone banking service, called Citi Mobile, later this year.