- FeeAlert: Actively steering cardholders to in-network, surcharge-free ATMs
- FeeAlert: Enabling financial institutions to help their customers save money
HOUSTON, Oct. 2, 2012 (GLOBE NEWSWIRE) -- Cardtronics, Inc. (Nasdaq:CATM), the world's largest retail ATM owner, today launched FeeAlert—a new product from Cardtronics that enables financial institutions to help their customers save money by steering them toward nearby in-network ATMs and away from ATM fees.
With FeeAlert from Cardtronics, banks and credit unions can actively support their customers' efforts to avoid ATM fees by raising account holder awareness of their in-network ATM options, in a personalized way. Upon analyzing an individual's real-world ATM usage behavior, FeeAlert enables financial institutions to deliver a highly relevant list of nearby surcharge-free ATMs—including surcharge-free network ATMs. In effect, FeeAlert remembers to check for nearby in-network ATMs even when a customer forgets to use their financial institution's ATM locator, thereby positioning banks and credit unions as delivering helpful, potentially cost-saving reminders to their customers.
"Surcharge-free ATM accessibility is largely driven by awareness—a cardholder can't use an in-network, surcharge-free cash machine if they don't know it's there," said Rick Updyke, president, U.S. Business Group, Cardtronics. "With FeeAlert, when a cardholder uses an out-of-network ATM and pays the fee, their financial institution can send a personalized text or email alert to the cardholder's mobile phone—steering them to nearby in-network, surcharge-free options."
How it Works: Consumer perspective
After enrolling in the FeeAlert program, cardholders at participating banks and credit unions, upon using out-of-network, fee-charging ATMs, will receive a personalized text or email alert from their financial institution, pointing them to the nearest in-network, and therefore surcharge-free ATMs.
How it Works: Financial institution perspective
- Financial institution deploys FeeAlert from Cardtronics
- Cardholder enrolls (via online banking) in FeeAlert program, selects preferred method of push-notification, e.g., text message or email
- Cardholder uses out-of-network/non-affiliated ATM
- FeeAlert generates list (via geo-location technology) of nearby in-network, surcharge-free ATMs
- Financial institution pushes results to cardholder by their preferred means of communication
Added Updyke: "For financial institutions, for their cardholders, for Cardtronics, for our merchant partners—FeeAlert delivers value across the board. Avoiding ATM fees is hardcoded into cardholder DNA, so if a financial institution puts itself in the position of using FeeAlert to actively help its cardholders save money, the loyalty-building opportunity is obvious. And for Cardtronics, because the nearby surcharge-free option will often be one of our bank-branded or surcharge-free Allpoint Network ATMs, hosted by a premier, daily destination retailer, the volume of both ATM transactions and cash-in-hand customers gets a boost."
- FeeAlert from Cardtronics – http://bit.ly/FeeAlert
About Cardtronics (Nasdaq:CATM)
Making ATM cash access convenient where people shop, work and live their lives, Cardtronics is at the convergence of retailers, financial institutions, prepaid card programs and the customers they share. Cardtronics owns/operates more than 61,200 retail ATMs in U.S. and international locales. Whether Cardtronics is driving foot traffic for America's most relevant retailers, enhancing ATM brand presence for card issuers or expanding card holders' surcharge-free cash access on the local, national or global scene, Cardtronics is convenient access to cash, when and where consumers need it. Cardtronics is where cash meets commerce.
The Cardtronics logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=991
Cardtronics and Allpoint are registered trademarks of Cardtronics, Inc.
All other trademarks are the property of their respective owners.
|Cardtronics — Media||Cardtronics — Investors|
|Nick Pappathopoulos||Chris Brewster|
|Director – Public Relations||Chief Financial Officer|