Transact with no surcharge fees at PULSE Select/MoneyPass ATMs

PULSE, a Discover Financial Services company, which serves more than 4500 US financial institutions and includes more than 265000 ATMs, as well as POS terminals, announced the launch of a surcharge-free ATM network in alliance with the MoneyPass Network, a network of Elan Financial Services, one of the nation’s leading providers of comprehensive ATM and debit card processing solutions for financial institutions, Independent Sales Organizations and retailers.

The PULSE Select/MoneyPass Surcharge-free ATM Network provides financial institution participants with access to more than 16,000 surcharge-free ATMs in the US. The network allows PULSE participants to provide their cardholders with access to surcharge-free ATMs at banks, credit unions, grocery stores, convenience stores, restaurants and other convenient locations in all 50 states.

Usually debit cardholders who use an ATM not owned or operated by their financial institution have to pay a surcharge fee which ranges from $1.50 to $3.00 per transaction. Those financial institutions who participate in the PULSE Select/MoneyPass network can reduce the expenses related to providing rebates of surcharge fees. Financial institutions participating in the PULSE Select Program will add their ATMs to the MoneyPass Network.

“The PULSE Select/MoneyPass network will allow PULSE financial institution participants to remain competitive without the cost of adding new ATM locations, and will help retain and attract new cardholders by providing additional convenience where they live, work and travel,” said Judith McGuire, PULSE senior vice president, product management.