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Oriental Bank expands ATM footprint with Sharenet branding deal

As a result of the deal, Oriental Bank customers will have access to 332 surcharge-free ATM locations across the Island.

April 14, 2015

Oriental Bank and Sharenet ATMs have entered a branding agreement that will expand the bank's ATM footprint by nearly 30 percent — making it the second largest network in Puerto Rico, according to a press release.

"The expansion is another step forward in Oriental's strategy to lead Puerto Rico with the most extensive, most convenient array of technology enhanced services," said José Rafael Fernández, president and CEO of Oriental and its parent company OFG Bancorp.

As a result of the deal, Oriental Bank customers will have access to 332 surcharge-free locations across the island, 85 of which will be owned and operated by Sharenet.

"It's a terrific deal for the bank's customers, who will be able to access numerous high-profile locations free of charge," said Sharenet Sales Director for Puerto Rico Carlos L. Pérez. "Plus by using Sharenet, Oriental bank is saving approximately 65 percent off their transaction costs."

The Sharenet ATM Participation program will handle all purchasing, maintenance, balancing, communications, regulation compliance and other concerns for the newly branded ATMs.

Almost 80 percent of Puerto Rico's population uses ATMs and 40 percent consider ATM proximity and convenience as primary factors in bank selection, according to research by Oriental.