Mergers Of Financial Institutions Afford Customers Free ATM Access
MINNEAPOLIS. Most ATM users unfailingly become disappointed for paying surcharge to the ATM’s owner-bank and one’s depository bank for using another’s machine. With millions of Americans making withdrawals in ATMs not owned by their depository bank daily, an estimated total of $4.2 billion in ATM fees has been realized this year. Server relocation specialists are well aware of this situation as banks find solutions to these pressing concerns.
Banks collecting fees from non-customers for using their ATMs are on the increase. A financial web’s survey indicated that 98 percent of presently ATM-owning banks apply fees to non-account holders who used their ATM services. The figure two years ago was only 89 percent.
Merging and Noncharging: Way of Competing Which Give ATM Users a Break
However, there are many smaller banks and credit unions that are not following suit, and giving ATM consumers a break, instead.
These charge-free ATM networks are intended by their owner banks or credit unions to make up their not having a large network. Their way of competing with the larger ones.: This has not escape one of the big banks, the U.S. Bank, which is part of the U.S. Bancorp (USB) based in Minneapolis.
U.S. Bank is expanding its network by acquiring MoneyPass, an ATM network which does not levy ATM charges for users who are not bank account holders. Customers using their ATM machines have access to 10,000 ATMs spread in 48 US states.
Rick Hartnack who heads U.S. Bank’s consumer banking while at the same time serving as vice chairman said that the acquisition of MoneyPass is a strategy in the fight for share in the market.
Still, U.S. Bank does not have the largest network of free-charge ATMs with its acquisition of MoneyPass. It is Allpoint Network, with 32,000 ATMs in all the 50 states which is the largest. Allpoint’s membership mainly consists of smaller banks and credit unions, according to Ben Psillas who is the president of this network based in Bethesda, M.D.
The Need for Server Relocation Specialists
Data center operation and management should be regarded as the heart of every business.
The mergers and buy outs by financial institutions – whether small or large – call for the expertise of server relocation specialists, who will oversee data migration or relocation. It is the server relocation specialists’ concern to eliminate, or at least keep the downtime to the barest minimum and other problems related to data or information relocation.