KeyCorp joins MoneyPass ATM network
Genpass, Inc., manager of the MoneyPass EFT Network, the nation's fastest-growing surcharge-free network and second largest automated teller machine (ATM) driver in the U.S., and KeyCorp, one of the nation's largest financial institutions, jointly announced today that Key will offer its Agent Bank clients the option of including MoneyPass ATMs as part of their surcharge-free access.
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This now gives Key's Agent Bank clients the opportunity to provide their cardholders with access to an additional 12,000 ATMs through the MoneyPass network.
Through Key's Agent Bank program, financial services companies provide their customers and members surcharge-free or surcharge-reduced access to Key's ATM network without the significant financial and labor investment required to build, operate and maintain their own individual systems. Institutions can access any or all of Key's network of 2,200 ATMs. The MoneyPass network will now become a part of Key's ATM sales network and will be available to any new or existing agent bank institution choosing to add the service to its program.
Key's relationship with Genpass offers the MoneyPass network in a non-reciprocal manner. That is, Key's current and future Agent Bank clients are not required to add their ATMs to the MoneyPass network and customers who bank with Key do not gain surcharge-free access to MoneyPass ATMs.
"The goal of Key's Agent Bank program is to bring added value to the cardholders of community banks and credit unions by providing a broad range of premier services," stated Brian Sismour, National Sales Manager, Key Consumer Payment Sales. "MoneyPass allows us to expand the services we provide to members nationwide. When we reviewed the range of alternatives, there was no doubt that MoneyPass, with its business proposition and network reliability, was the right choice."
"We are excited to provide Key's Agent Bank clients access to the MoneyPass Network," stated Douglas D. Anderson, President of the MoneyPass surcharge-free ATM network. "When the Key program is added to recent additions like Credit Union 24, the Illinois Credit Union League, and others, it confirms the status of MoneyPass as the fastest-growing surcharge-free network and its related value proposition to both Issuers and Acquirers."