News

NetBank to offer deposit taking at MAC ATMs

February 20, 2002

ATLANTA -- NetBank, (Nasdaq: NTBK) an Internet bank with more than $1.7 billion in assets, has signed an agreement with the MAC ATM network to give customers access to approximately 18,000 deposit-taking ATMs across the country. According to NetBank, the move marks another step in its ongoing effort to expand customer access points and provide customers more convenient ways to manage their money.

"Our alliance with MAC allows us to make a quantum leap in our customer service standard without assuming a large financial and operational responsibility," said D.R. Grimes, NetBank CEO.

"We're proud to be working with one of the true leaders of Internet banking," said Steven E. Dawe, senior vice president, national business development for the MAC Network.

The deal gives NetBank customers complete access to any MAC ATM across the country. Currently, there are more than 57,000 machines in the network, including the 18,000 equipped for deposits.

NetBank customers can make either cash or check deposits. There is no charge for the deposit-taking service. NetBank plans to make the service available by year-end.

In addition to the MAC service, NetBank customers can make deposits by standard postal service via postage-paid envelopes provided by NetBank, direct deposit, automated clearing house (ACH) transfer, electronic funds transfer via the Internet and wire transfer.