Responding to rising ATM fees, Genesee Regional Bank (GRB) has partnered with the Allpoint and STAR® ATM networks to provide the bank’s debit card customers with more than 55,000 surcharge-free ATMs around the world. The network includes ATMs located within premier retailers in the Rochester region including Wegmans, Speedway, Walgreens, Rite Aid, Sunoco, Costco, Target, Walmart, Sam’s Club and more.
A 2017 Bankrate.com survey found that ATM fees have risen for the 11th consecutive year, now averaging $4.69 nationally for out-of-network withdrawals. Coupled with the fact that consumers will use an out-of-network ATM an average of at least 30 percent of the time when they withdrawal cash, ATM fees add up quickly for accountholders. With the holiday shopping season set to kick off next week, GRB hopes its customers will see an immediate benefit in both convenience and cost savings.
“As a Rochester-based financial institution, we do not want our local customers to pay fees to access their money. We already offer up to a $10 credit each month for any out-of-network ATM fees, but we think providing more options for surcharge-free ATMs creates an even better experience for our customers,” said Paul Keenan, Senior Vice President, Retail Banking Manager. “Adding the Allpoint and STAR surcharge-free networks, which have ATMs located in many major retailers, provides considerably more convenience and will help lower costs for our customers as they do their holiday shopping – and on an ongoing basis.”