- 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