Allpoint Network, a Cardtronics Inc. affiliate and the operator of the nation's largest surcharge-free ATM network, has signed Vermont-based Merchants Bank ($1.4 billion in assets) for 34 ATMs with full service throughout Vermont.
Founded in 1849, Merchants Bank has grown to be the largest bank by assets based in the state. According to a news release from Allpoint, the bank has continued to expand, opening several new branches in the past few years, and is now offering 35,000 surcharge-free ATMs nationwide at retailers like 7-Eleven, Target, and CVS Pharmacy through the Allpoint Network.
"We are excited about entering Vermont with a leading institution like Merchants Bank," said Ben Psillas, president of Allpoint. "As the cost of deploying ATMs continues to rise, larger institutions are looking to Allpoint to offer mega-bank convenience without the infrastructure management requirements."
