Banking Business Review: India-based ICICI Bank opened its first U.S. branch in New York City in March. Now the bank has joined the Allpoint ATM network to offer surcharge-free ATM transactions to its customers who live outside India. Allpoint has more than 2,500 surcharge-free ATMs at retailers such as 7-Eleven, Duane Reade, Target, Costco and CVS, in New York State. "Convenience is one of the most significant challenges facing a foreign bank in attracting new business within the U.S.," said Ben Psillas, president of Allpoint. "With Allpoint's 37,000 surcharge-free ATMs, ICICI Bank is able to address this limitation and compete more effectively immediately."
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