CLEVELAND and SEATTLE -- Regal Financial Bank of Seattle is the first bank in the state of Washington to sign an agreement to participate in Cleveland-based KeyCorp's (NYSE: KEY) agent bank program in which Regal customers receive surcharge-free access to Key's network of more than 280 ATMs in Washington.
Through its agent bank program, Key, with approximately $83 billion in assets, offers surcharge-free national and regional ATM access and other services such as processing to smaller financial institutions in Ohio, Idaho, Indiana, Maine, New York and now, Washington. (See related story Building on the installed base) Participants pay fees to Key to participate in the program; the fees vary depending on which services they elect to use.
"We only recently opened our doors to customers and we are excited to be able to offer them nationwide convenience already," said Jesse Tam, president and chief executive officer at Regal, which established operations in April. "Our customers will have access to an established channel through which to do business with us that would have taken us years to build from the ground up."
