News

First Union offers prepaid calling vouchers at ATMs

February 21, 2002

CHARLOTTE, N.C. -- First Union Corp., the nation's sixth largest bank holding company, is offering MCI WorldCom prepaid calling vouchers at nearly 2,900 ATMs. The vouchers are available in 30- or 60-minute denominations for both US and international calls.

The agreement between First Union Corp. and MCI WorldCom is the largest deployment of ATM-based, prepaid calling sales in the industry to date -- and the first large-scale rollout of its kind by a major regional bank. PNC Bank Corp. offers AT&T PrePaid Cards at a small number of its ATMs at bank branches in the Pittsburgh area.

First Union ATM users can purchase the prepaid calling time and have the cost deducted from their account. The ATM receipt serves as a prepaid calling card, with the toll-free access number and personal identification number needed to place a telephone call printed on the receipt. On-screen prompts guide customers through the purchase. Buyers are also provided with a receipt with dialing instructions for domestic or international calls.

"We live in a world driven by speed and convenience, and offering MCI WorldCom prepaid calling is a natural extension of our ATM delivery channel to put the right products in consumers' hands," said Al Sale, president and CEO of First Union ATM Solutions, Inc., a wholly owned subsidiary of First Union.

Purchasers pay no transaction fees when they buy the prepaid calling vouchers at First Union ATMs, since it is a POS transaction. The amount is simply debited from the consumer's checking account.

Unlike a traditional calling card, an ATM prepaid calling voucher has a built-in security mechanism. If it's lost, the voucher can only be used for the remaining balance if someone else uses it to place calls. However, the voucher becomes void once the time allotment is depleted, since the paper receipt cannot be reloaded with more units.

Prepaid calling vouchers aren't the only non-cash products available at First Union ATMs. The company has been offering stamps at approximately 140 ATMs since January and is significantly increasing that number based on customer demand.