BETHESDA, Md., Jan. 29, 2008 (PRIME NEWSWIRE) -- Allpoint(tm) Network was launched in 2003 with the goal of providing surcharge-free ATM access for consumers and a competitive advantage for financial institutions through a unique business model. The network then consisted of 23,000 ATMs serving a handful of clients. Less than five years later, Allpoint continues to meet those original goals, but now serving over 1,000 financial institutions with surcharge-free access to 32,000 ATMs.
Allpoint has established itself as a universal surcharge-free solution with a diverse membership consisting of banks, credit unions, and prepaid card issuers. The diversity has been driven by partnerships with leading bank and credit union organizations such as the American Bankers Association (ABA), and state credit union leagues in Pennsylvania, Illinois, Maryland, Delaware, and New Jersey. Allpoint also recently forged strategic alliances with leading networks such as First Data/Star Network, Credit Union 24, and Fiserv to provide their members with nationwide surcharge-free access.
Consumer demand for surcharge-free ATM access has continued to increase due to rising surcharge fees and a desire to avoid those fees without compromising convenience. The percentage increase of the average ATM surcharge outpaced inflation by 205% in 2007 and continues to rise as Bank of America and Wachovia have raised their ATM surcharge 50%, and 25% respectively. In addition, a recent Synergistic Research study featured in the American Banker on consumer ATM use found that more than 4% of consumers would change financial institutions to avoid ATM fees.
"I am very proud of this achievement," said Ben Psillas, Founder and President of Allpoint. "It proves that ATMs continue to be a major factor for consumers when selecting a financial institution and with the average ATM surcharge increasing sharply in 2007, I believe consumer demand for convenient surcharge-free access will continue to rise."
About Allpoint
Allpoint, a division of Cardtronics (Nasdaq:CATM), is America's Largest Surcharge-Free ATM Network, with 32,000 ATMs in leading national and regional merchant locations across the country. Allpoint provides greater access, convenience and savings to customers of financial institutions with limited ATM presence while providing the institutions with the tools to compete more effectively for customers. For more information or to find the nearest Allpoint surcharge-free ATM, visit the company's web site at www.AllpointNetwork.com.
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