MasterCard and Cardtronics team to offer free ATM access
MasterCard International and Cardtronics, the world's largest ATM operator, have formed an agreement to create a surcharge-free ATM program across the US.
From September, banks and other issuers of MasterCard, Maestro and/or Cirrus branded debit cards will be able to offer their cardholders surcharge-free cash withdrawals at more than 25,000 Cardtronics ATM locations throughout the US. MasterCard will market the program to its member financial institutions on behalf of Cardtronics. Cardtronics will provide ATM services through its network of 25,000 machines, including processing, cash management, monitoring, and maintenance. Surcharge-free ATM options are increasingly an important service for issuers of specialty debit card programs, said Richard Lyons, senior vice president, MasterCard International. The addition of the Cardtronics ATM network will allow financial institutions to better serve select portions of their debit card programs that may require or commonly include surcharge-free guarantees. Moreover, the program also supports financial institutions that want to expand their delivery footprint to better serve their valued customers.
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