PRAGUE, Czech Republic -- Citibank is outsourcing ATM management to Euronet Services (Nasdaq: EEFT) in the Czech Republic. Under the terms of a new five-year contract between the two companies, Euronet will install and operate Citibank-branded ATMs offering consumers the ability to perform cash withdrawals and balance inquiries.
The ATMs will also accept deposits from Citibank accountholders.
The agreement in the Czech Republic marks the fifth country in which Citibank has chosen to outsource ATM management to Euronet. Earlier this year, Citibank contracted with Euronet to install and operate 250 ATMs in Greece under an eight-year agreement. Other countries in which Citibank contracts with Euronet are Hungary, Poland and the UK.
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