E*Trade acquires XtraCash ATMs

E*Trade acquires XtraCash ATMs

E*Trade Bank has acquired a portfolio of more than 4000 installed cash machines from ATM vendor XtraCash. Specific terms of the deal were not disclosed.

E*Trade's ATM network now totals more than 15,000, making it the second largest in the US.

Arlen Gelbard, chief banking officer and president, E*Trade Bank, says: "The acquisition, which increases the size of our network by approximately thirty percent, solidifies our role as a leader in the ATM industry, while adding to a consistent and reliable source of revenue for E*Trade Bank."

E*Trade adds that the newly acquired units will expand the company's reach in California and the western United States.

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