As the Wall Street Journal says, cash may not be king, but it's still royalty. According to our survey of over 3,000 hourly workers, cash was the second most popular payment method after debit card.
That's why we're excited to announce our partnership with Cardtronics and its Allpoint network to give Branch debit card holders surcharge-free access to cash at Allpoint ATMs throughout the U.S. With more than 55,000 throughout the country, Allpoint ATMs are conveniently located at popular retail locations like Target, Circle K, and CVS.
Check out the full press release below for more details!
Branch Partners with Cardtronics to Give Workers Surcharge-Free ATM Services
Agreement Provides Surcharge-Free Access to Over 40,000 ATMs
HOUSTON, March 05, 2020 (GLOBE NEWSWIRE) -- Branch, the only challenger bank that partners with employers to help working Americans grow financially, has teamed up with Cardtronics (CATM) 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.
“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.
“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.”
Branch is the only challenger bank that partners with employers to help working Americans grow financially. Employers turn to Branch not only to help them attract and retain workers, but also reduce the costs of paper checks and paycards by offering Branch as a free financial wellness benefit and banking alternative. Employees that sign up with Branch can receive a zero-fee bank account, free instant access to earned wages, and budgeting tools to help them manage their cash flow between paychecks. Branch has partnered with some of the nation’s largest employers and are adding new employers daily in retail, restaurant, logistics, manufacturing, and healthcare. To learn more about Branch, visit www.branchapp.com and follow us on Twitter, Facebook, and LinkedIn.
About Cardtronics (CATM)
Cardtronics is the trusted leader in financial self-service, enabling cash transactions at approximately 285,000 ATMs across 10 countries in North America, Europe, Asia-Pacific, and Africa. Leveraging our unmatched scale, expertise, and innovation, top-tier merchants and businesses of all sizes use our ATM solutions to drive growth, in-store traffic, and retail transactions. Financial services providers rely on Cardtronics to deliver superior service at their ATMs, on Cardtronics ATMs where they place their brand, and through Cardtronics' Allpoint Network, the world’s largest surcharge-free ATM network, with over 58,000 locations. As champions of cash, Cardtronics converts digital currency into physical cash, driving payments choice for businesses and consumers alike. To learn more about Cardtronics, visit www.cardtronics.com and follow us on LinkedIn and Twitter.