Agreement Provides Surcharge-Free Access to Over 40,000 ATMs
Branch, the only challenger bank that partners with employers to help working Americans grow financially, has teamed up with Cardtronics and its Allpoint Network to give Branch customers surcharge-free access to cash at Allpoint ATMs throughout the U.S.
Holders of the Branch Mastercard debit card will have access to cash at all Allpoint ATMs in the U.S. with no transaction fees. The agreement underscores Branch’s commitment to helping working Americans, who are often underserved by traditional banks, get ahead with free, fast, and flexible financial tools. The initiative continues Branch’s efforts to eliminate fees for customers after becoming the first company to offer instant access to earned wages for free.
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“With the majority of today’s workforce living paycheck to paycheck, employees need equitable financial services that can improve their financial health and help them save for a secure future,” said Atif Siddiqi, Founder and CEO of Branch. “An important part of that is giving them ready access to their hard-earned cash without burdening them with ATM fees.”
Employers provide Branch as a free financial wellness benefit that helps employees better address their day-to-day financial needs. Along with offering customers instant access to a portion of their earned wages ahead of their payday at no cost through the Branch debit card, Branch delivers other financial wellness tools, including budgeting, fee-free checking account, two-day early pay, and instant gas hold refunds. The enterprise program allows employers to save on turnover, overtime, and moving money faster to their employees.
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“Income volatility is one of the many challenges workers confront when managing their money, and we’re pleased to partner with a company like Branch that has demonstrated a commitment to helping the workforce establish a firm financial foothold,” said Carter Hunt, Managing Director of North America for Cardtronics. “Having easier, surcharge-free access to funds is a significant benefit to these customers.”