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ATMIA seeks repeal of Tennessee ATM statute

December 17, 2013

The ATM Industry Association is in discussions with regulators and legislators in Tennessee in an effort to repeal Tennessee Statute 45-2-619. The law requires IADs to enter into "a totally unnecessary" agreement with a Tennessee bank for each ATM they operate in the state, according to an ATMIA news release.

Tennessee law stipulates that "[o]nly a depository institution, or an affiliate of the depository institution, may own, establish, alone or in combination with other persons, operate one or more electronic cash dispensing devices located or to be located in this state."

In the release, the ATMIA said it was cautiously optimistic about the prospect of repealing the statute. The organization is asking IADs operating in Tennessee to take a two-question survey to help in its efforts.  

"In order for us to demonstrate the economic benefits of non-bank ATMs to the legislators, we need to provide them with the number of non-bank ATMs currently operating in Tennessee, as well as the annual aggregate amount of cash dispensed to Tennessee citizens or visitors thru such ATMs."

Specific information provided through the survey will be used only to compile aggregate numbers, and will not be released to outside parties, the organization said. Upon completion of the project, all related will be deleted from ATMIA records. 

All participants in the study will be entered into a drawing for a $100 prepaid gift card. The online survey will remain open through Dec. 31.

Read more about regulatory issues.

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ATM Industry Association (ATMIA)

The ATM Industry Association, founded in 1997, is a global non-profit trade association with over 10,500 members in 65 countries. The membership base covers the full range of this worldwide industry comprising over 2.2 million installed ATMs.

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