News

NetBank brand being added to former FTI ATMs

April 20, 2004

ATLANTA - Internet bank NetBank, a wholly owned subsidiary of NetBank, Inc. (Nasdaq: NTBK), plans to offer its customers access to some 5,000 NetBank ATMs across the country.

According to a news release, the company is in the process of branding the ATMs that were attained in last year's acquisition of Financial Technologies, Inc (now NetBank Payment Systems) as well as ATMs formerly under contract with Electronic Cash Systems Inc.

(See related stories NetBank acquires FTI and FTI takes NetBank name, acquires ATMs from Calif. ISO)

The deal makes NetBank's new ATM network the fourth-largest of any bank in the nation.

The company is branding the machines and bringing them online in phases according to the regions with the highest concentrations of NetBank customers. The process is scheduled to be complete this summer.

"In addition to giving our retail and small business customers even greater access to their funds, these ATMs will allow us to build more awareness for the NetBank brand and to promote our products and services through another channel," said Eve McDowell, NetBank's chief sales & customer fulfillment executive, in the release.

One way NetBank will promote its products is through a promotion that targets non-NetBank customers who use the ATMs. A promotion on the backs of transaction receipts will direct consumers to a special NetBank Web site where they are eligible to receive a $50 bonus for opening a NetBank checking account.

NetBank offers an ATM locator on its Web site. In addition to the 5,000-plus NetBank ATMs, customers will continue to have access to more than 6,700 surcharge-free ATMs that are part of the Star, NYCE and CU-24 networks, according to the release.