WASHINGTON – Cardtronics will show its new solution, called FeeAlert, which steers credit union members toward nearby in-network ATMs and away from ATM fees, at this week’s BAI Retail Delivery Conference.
According to Cardtronics, with FeeAlert credit unions and banks can actively support their members’ or customers’ efforts to avoid ATM fees by raising account holder awareness of their in-network ATM options, in a personalized way. Upon analyzing an individual’s real-world ATM usage behavior, FeeAlert enables financial institutions to deliver a highly relevant list of nearby surcharge-free ATMs – including surcharge-free network ATMs. In effect, FeeAlert remembers to check for nearby in-network ATMs even when a customer forgets to use their financial institution’s ATM locator, which the company said positions banks and credit unions as delivering helpful, potentially cost-saving reminders to their members/customers.
After enrolling in the FeeAlert program, cardholders at participating banks and credit unions, upon using out-of-network, fee-charging ATMs, will receive a personalized text or e-mail alert from their financial institution, pointing them to the nearest in-network, and therefore surcharge-free ATMs.