Digital Banking
Allpoint ATM 101: Key facts to know
Here are a few key facts to known about Allpoint ATMs and other surcharge-free ATM networks.
September 3, 2024 by Bradley Cooper — Editor, ATM Marketplace & Food Truck Operator
Retail ATMs traditionally charge fees for customers as a way to generate profits for operators. However, with the advent of surcharge free ATMs like the Allpoint ATM network, that is quickly changing.
In general, if customers wanted fee-free access to cash, they would have to use ATMs owned by banks that they have existing checking accounts with. However, this can be a challenge for customers for a variety of reasons. For one, they might not have a bank branch available in the nearby area, or their bank might not deploy ATMs in retail environments.
Allpoint, operated byNCR Atleos, aims to address this issue by offering more convenient access to cash at retailers closeby to where customers live. Here are a few key facts to known about Allpoint ATMs.
How do Allpoint ATMs work?
Average ATMs charge an out-of-network transaction when customers use the ATM with their banking debit card. These fees can be quite high depending on the bank and the operator. According to data from Bankrate, "the average total cost of an out-of-network ATM transaction is now $4.73, which combines the average fee of $1.58 charged by one's own bank with the average surcharge of $3.15 levied by an ATM-owning bank."
Allpoint partners with issuers, including banks, credit unions and neobanks so customers of those banks can utilize the ATMs without getting the out-of-network fee or an operator fee. This in turn improves the banking experience outside of the branch.
"Issuers leverage Allpoint as an everyday banking platform that provides scaled, convenient physical infrastructure to serve their cardholders," Gregory Donahue, VP of solution management, NCR Atleos , told ATM Marketplace in an email.
How many Allpoint ATMs are there?
Allpoint ATMs currently have more than 40,000 retail ATMs in the U.S., with more than 55,000 globally. By utilizing the Allpoint Network locator, customers can find an ATM near them based on their zip code.
In order to find out if your cardholder covers Allpoint ATMs, NCR Atleos recommends customers contact their card issuer.
The network adds new financial institutions regularly. One of the most recent additions was Credit Union of America.
"As part of our ongoing expansion, we wanted to provide options for meaningful physical interactions even when there isn't a branch nearby, while also ensuring our members always have reliable, surcharge-free access to cash," Dan Umscheid, VP of payments solutions and strategy for CUA, said in a press release.
What retailers have these ATMs?
"Allpoint is found in the largest and most well-known retail merchants across the world. Allpoint cardholders can visit and Walgreens, CVS, Target, Kroger, Costco or other participating partners for convenient access to surcharge-free cash," Donahue said.
The Allpoint Network locator shows the individual locations of these retailers on a map with visual symbols representing the individual retail brands.
How does it benefit retailers?
Retailers benefit from ATMs in a variety of ways, but the biggest is simply providing a convenient service for customers that will both increase foot-traffic and improve the overall customer experience. By using surcharge-free networks, retailers can compound that impact.
"Merchant partners win with Allpoint by creating more foot-traffic in their stores. Consumers strongly dislike ATM fees and migrate to locations that are fee-free to complete their business, creating net new 'door swings' for the store," Donahue said. "In the process of using the ATMs, most consumers also take advantage of convenient access to goods and services provided by the merchant partner."
What services do Allpoint ATMs offer?
The primary service for these ATMs is cash withdrawals along with balance inquiries. NCR Atleos also offers Allpoint+ ATMs, which offer enhanced services in the form of cash deposits.
Customers can deposit cash at more than 3,500 Allpoint+ ATMs, which can also be found on the locator. These ATMs act as a more complete self service banking tool.
What other surcharge-free ATM networks are there?
Alllpoint isn't the only fee-free ATM network. There are several others located both within the U.S. and internationally. Banks.com identifies the following networks:
- STAR Network, an interbank network with 2 million ATMs and more than 5,700 participating financial institutions.
- CO-OP ATMs with more than 30,000 ATMs primarily with credit unions.
- Pulse ATM network with more than 1.8 million ATMs globally.
- MoneyPass ATMs with more than 25,000 ATMs.
All of these networks offer location tools as well so customers can find an ATM near them. These networks also expand regularly with additional banks and credit unions.
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NCR Atleos
NCR Atleos expands self-service financial access for retailers and financial institutions who leverage our expertise, operational scale, always-on global services and constant innovation to deliver convenient self-service banking.
