Cardtronics, Inc. (Nasdaq: CATM), the world’s largest retail ATM owner / operator, has launched ATMpass, a membership program that gives consumers surcharge-free cash access at thousands of participating ATM locations.
ATMpass was developed to give consumers the freedom to choose convenient ATM cash access, independent of their financial institution’s ATM network. With an ATMpass membership, users can obtain surcharge-free cash on-the-go at premier retailers where they already shop, saving time and money.
How ATMpass Works
Consumers may purchase monthly, quarterly or annual ATMpass memberships on the ATMpass website at www.myatmpass.com. Users then link their ATM card directly to their ATMpass account. When a user initiates a transaction using his or her linked card at an ATMpass ATM, the ATM surcharge fee for that transaction will be waived. Same card. Same financial institution. More ATMs.
Where is ATMpass?
With the initial phase of the ATMpass rollout, members already have surcharge-free access to more than 5,000 ATMs located in select CVS/pharmacy and/or Walgreens stores in 38 states plus Washington, D.C. Cardtronics plans to add ATMs in more retail locations across the country throughout 2015. Users can always find the nearest participating ATMpass ATMs using the ATMpass locator, which receives location data updates as Cardtronics expands the service area.
Tom Pierce, chief marketing officer, Cardtronics, said:
“Consumers are interested in using the most convenient ATMs - Cardtronics ATMs - but less so in paying a surcharge fee. With ATMpass, Cardtronics offers cardholders the convenience of national retailers plus the ability to avoid ATM surcharge fees. Having cash access at a surcharge-free ATM in a retail location that is part of their day-to-day life is important to many people. For consumers who feel limited by their current ATM options, or don’t have any surcharge-free ATMs near their home, work or school, ATMpass gives them control over ATM surcharge fees and the freedom to choose convenience.”
ATMpass memberships eliminate ATM surcharge fees, which are fees charged by the ATM owner for the convenience of using that particular machine. However, some financial institutions also charge their cardholders fees for using ATMs outside their network. These “foreign” or “out-of-network” fees are outside the control of ATMpass. Cardholders can find out whether their financial institution charges these fees by reviewing its fee disclosure information.