Washington Mutual, Inc. (NYSE:WM) and Cardtronics Inc., have entered into an agreement that will enable WaMu to brand 160 cash dispensing Automatic Teller Machines (ATMs) in select Walgreens locations in the United States.
Through the relationship, all WaMu-branded ATMs in Walgreens stores will be free to WaMu customers for cash withdrawals, just like ATMs owned and operated by Washington Mutual. Initial roll-out is scheduled to be complete in the third quarter of 2006.
"We are always looking for ways to make banking simpler and more convenient for people, and providing our customers with easy access to their money any time, anywhere is critical," said Nandita Bakhshi, executive vice president and manager of payments at Washington Mutual. "By teaming up with Cardtronics and Walgreens, one of today's leading retailers, we've created additional convenience for our customers by giving them access to an expanded network of ATM locations."
"This important agreement is further testament to Cardtronics' strategic commitment to maintain our leadership position in facilitating a win-win situation for our financial institution partners and merchants," said Keith Myers, executive vice president of financial services for Cardtronics. "Our goal is to continue providing these types of opportunities to enable financial institutions to rapidly expand their ATM footprint, strengthen their brand presence and ultimately provide enhanced convenience to their customers."