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Allpoint Network To Accept Check And Cash Deposits

Stocks in this article: CATM

HOUSTON, June 18, 2014 (GLOBE NEWSWIRE) -- Cardtronics, Inc. (Nasdaq:CATM), the world's largest retail ATM owner, today announced its Allpoint surcharge-free ATM network will begin offering deposit-taking capabilities at more than 2,500 of its domestic ATMs nationwide by the end of the year.

Allpoint Network Logo

The new functionality will enable cardholders at participating financial institutions to deposit checks and cash directly into select ATMs without using envelopes or deposit slips. With this addition, the surcharge-free Allpoint ATM network will facilitate both cash-in and cash-out transactions – enabling consumers to manage even more of their banking needs at convenient retail locations.

Bill Knoll, executive vice president, Financial Institutions Products Group, Cardtronics, said:

"Allpoint's surcharge-free ATMs, fixtures in many of America's most well-known retailers, have always enabled financial institutions to offer their cardholders the convenience of an expanded ATM network without sending their customers to competing financial institution branch locations. With the introduction of this deposit capability, Allpoint adds even more value to these surcharge-free ATMs, meeting consumers in retail stores that are part of their daily routine."

How it works

Once the capability is rolled out, cardholders from participating financial institutions who insert their cards at deposit-taking Allpoint machines will be given a deposit option on the initial menu. After inserting a check for deposit, cardholders will be able to view an image of it on the screen. The ATM will also print the check image on the receipt. Cardholders who deposit cash will see a tally of the denominations they inserted into the machine on their receipt.

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