Select-A-Branch Banks and Credit Unions recognize value in branded surcharge-free ATMs.

 
Financial Institutions of all sizes, including PNC Bank and TD Bank, are adopting Select-A-Branch ATM network

King of Prussia, PA—A growing number of financial institutions are adopting the Select-A-Branch ATM Network as a way to help them extend their brands and provide a valuable service to their customers. SAB’s patent-pending technology and business process allow SAB ATM’s to recognize the card issuer and, if that issuer is a participant in the SAB network, automatically change the transactions screens to display the brand logo, colors and advertisements of that issuer to the cardholder. The transaction is then delivered surcharge-free, which is perceived as a customer service enhancement and another reason for the cardholder to value the institution’s brand.

According to PNC Bank’s Senior Vice President of Electronic Banking, Jim Walker, the Select-A-Branch ATM Network has helped him to better reach PNC’s New York City-based cardholders.

“With relatively few branches in New York City, we needed to improve our access to our existing and prospective customers in terms of branding and service,” commented Mr. Walker. “This presented two very expensive options: fight for ATM locations and real estate in one of the most high-priced cities in the world, or seek to acquire a local institution with access to the market. SAB provided a third option, and one that allowed a pay-per-use model that guaranteed that our investment was actually reaching our target audience at the point of consumption.”

Network participation requires that the financial institution agree to reimburse SAB for the surcharge fees waived for their customers. This pay-per-use model, an industry first, provides a measurable customer impact with no additional costs. The transaction-based results generate a fee structure that is congruent with an institution’s size and geographic spread, opening the door to participation from institutions of all sizes.

“Philadelphia Federal Credit Union is a local institution with a modest marketing budget,” commented Karen Eavis, PFCU’s Communications Specialist. “Without SAB, we would never have been able to win premiere locations like the Pennsylvania Turnpike plazas. Now we can present our brand along side the biggest brands in the region right in our backyard.”

Since SAB effectively presents a shared usage terminal through which an unlimited number of institutions can participate, the drawing power of SAB’s surcharge-free cardholder offering typically surpasses those of the competition. The resulting revenue potential of an SAB ATM (SAB ATM’s average 20-60% more revenue than the typical ISO-based ATM) have allowed the company to win premiere locations like McDonalds franchise restaurants across New York City, the Pennsylvania Turnpike service plazas, the Boston “T” train stations, and most recently 26 locations throughout JFK, Newark and LaGuardia airports.

Long Island-based Bank of Smithtown recently joined the network, in part due to SAB’s ability to provide this level of access. “Access to a surcharge-free transaction at these airports matters to many of our customers who pass through them whenever they travel,” commented John Romano, Bank of Smithtown’s Executive Vice President and Chief Retail Officer. “Attaching our brand to that service is a great way to emphasize our commitment to them.”

Network participation allows institutions to publish multiple advertisements to each transaction and update those ads regularly, which SAB controls remotely via their content servers.
 
Finally, and perhaps most importantly, SAB gives institutions the ability to capture and retain customers in a marketplace increasingly dominated by the largest handful of institutions. “Our calculations are predicated upon industry studies like the Dove Report,” commented SAB Chief Operating Officer Dan Stechow, point person for institution participation “which indicate that customers do indeed respond to ATM availability and surcharge-free programs. SAB can demonstrate that, by saving or acquiring just one new customer per year per ATM, the SAB program becomes self-funding, making SAB’s additional benefits to advertising budgets, branding reach and customer access windfalls.”

TD Bank customer, Janet Treadaway, validates these benefits. “Having access to free ATMs is a big motivator for me to stick with TD Bank,” she commented, “And during this big shake up in the banking market, it certainly helps to see my bank making an effort to connect with me.”

About Select-A-Branch ATM Network
Select-A-Branch (S-A-B) is an ATM Network that provides wireless, digital-enabled ATM’s located in high traffic merchant locations. S-A-B’s patent-pending ATM software solution allows banks and credit unions to deliver branded, surcharge-free ATM transactions to any cardholder at any S-A-B ATM, resulting in increased patronage and customer satisfaction.  Launched in 2006, S-A-B has offices in King of Prussia, PA.  www.selectabranch.com         

Contact:
Cindy Golisch
480/471-8820



 

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