Fiserv, Capital offer surcharge-free ATM transactions to customers
Fiserv Inc., a payments provider, financial services and technology solutions, announced a new agreement with Capital One that offers customers secure surcharge-free access to their funds at thousands of ATMs across the country, according to a press release.
The agreement will add more than 1,500 Capital One ATMs at Capital One branches, cafés and select off-site locations to Fiserv's MoneyPass ATM network. More than 1,900 organizations and 130 million cardholders rely on the MoneyPass network.
Capital One 360 checking customers can conduct unlimited surcharge-free transactions at 34,000 additional MoneyPass ATMs nationwide. Full availability for Capital One customers is anticipated in mid-January 2021.
According to a 2018 Mercator Advisory Group survey, 77% of U.S. consumers say they do anything they can to avoid paying ATM surcharges, with 65% actively seeking out ATMs that are in surcharge-free networks.
"ATMs have become critical physical touchpoints for financial institutions, keeping them connected to their customers through a multitude of services," Himanshu Patel, executive vice president of Card Services at Fiserv said in the release. "Surcharge-free access to funds at the ATM continues to be one of the most coveted account holder perks and we are excited to now offer this benefit to customers through our premium network of desirable ATM locations nationwide."