News

Canadian interbank ATM network to grow 30 percent in 3 months

With the addition of hundreds of cash-dispensing ATMs, The Exchange will become Canada's second largest financial institution ATM network.

July 8, 2015

Ficanex Services LP, brand manager of The Exchange interbank network in Canada, has announced that Manulife Bank will add 830 surcharge-free ATMs to the network. 

Manulife Bank-branded cash dispensers will be placed in selected Circle K, Couche-Tard and Mac's convenience stores across Canada, a press release from Ficanex said.

Many of the ATMs will be located in areas that currently are not well served by network members. These new installations will increase the number of unique postal code areas served by The Exchange from 1,820 to 2,607 — a 43 percent increase — and will dramatically improve surcharge-free ATM access for 4.5 million cardholders served by network members, the release said.

"Manulife Bank's ATM additions ... further demonstrate the value that The Exchange Network brings to its members and their cardholders," Ficanex President and CEO Andrew Obee said in a statement. "With over 3,300 surcharge-free access points in Canada, The Exchange Network is now the second largest financial institution ATM network in the country. 

Coupled with access to more than 500,000 ATMs and more than 3 million point-of-sale terminals connected to the U.S.-based Acceldebit payments network, cardholders of financial institutions belonging to The Exchange have exceptionally convenient access to cash, Obee said.

The Ficanex release said that the ATM rollout will begin in July with deployment completed in September, and that new locations will be added to The Exchange ATM mobile applications and website as soon as they go live.