Allpoint ATM Network grows in tough economy
January 15, 2009
BETHESDA ,Md.— On the eve of what many experts believe will be re-regulation in the financial services industry, prompted by the ongoing financial crisis and discussed openly by the incoming administration, Allpoint Network says its network of surcharge-free ATMs is flourishing.
Allpoint works with banks and credit unions to provide their customers and members with surcharge-free ATM access. Ben Psillas launched Allpoint in 2003 to help any financial institution provide an ATM network to rival the networks of top U.S. FIs.
Starting with 23,000 ATMs and a handful of financial institutions, Allpoint now offers more than 35,000 surcharge-free ATMs nationwide (one out of 12 ATMs in theUnited States) to more than 1,100 FIs representing more than 15 million cardholders.
Allpoint says its offer is different: While most non-bank ATMs levy a surcharge, at ATMs in the Allpoint network, the participating FI picks up the tab for the consumer.
Allpoint has expanded outside theUnited Stateswith the addition of more than 2,000 surcharge-free ATMs in theUnited Kingdom. Allpoint members include ING Direct, State Employee Credit Union of Maryland, prepaid issuers ADP and JP Morgan Chase, and governments that issue debit cards, such as New York State Department of Labor "Direct Payment Card". More than 130 FIs inMaryland,VirginiaandWashingtonD.C.participate in Allpoint.
