MoneyPass is an
interbank network
An interbank network, also known as an ATM consortium or ATM network, is a computer network that enables ATM cards issued by a financial institution that is a member of the network to be used to perform ATM transactions through ATMs that belon ...
owned by Brookfield, Wisconsin-based
Fiserv
Fiserv, Inc. () is an American multinational company headquartered in Brookfield, Wisconsin that provides financial technology services to clients across the financial services sector, including: banks, thrifts, credit unions, securities broker ...
, the third largest North American financial services company by revenue.
Previously, MoneyPass had been owned by Elan Financial Services, a business unit of
U.S. Bank
U.S. Bancorp (stylized as us bancorp) is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution i ...
. MoneyPass provides surcharge-free ATM services to North American MoneyPass consumer/cardholders whose transactions utilize a MoneyPass supported ATM and has become the second largest surcharge free ATM network in the United States.
There are 61,000 surcharge-free MoneyPass ATMs in the United States, located at financial institutions and retail locations.
More than 95 million consumers have access to MoneyPass ATMs.
History
Genpass, Inc., formed the MoneyPass ATM network in October 2003 by merging two existing regional ATM networks that it had already owned, MoneyMaker in Texas and MoneyBelt in Tennessee.
Union Planters
Union Planters Bank was a United States financial institution and multi-state bank holding corporation headquartered in Memphis, Tennessee prior to being acquired by Regions Financial Corporation. With over $34 billion in assets, Union Planters Ba ...
, with nearly 900 ATMs located in 12 states, was a charter member.
In December 2003, the regional supermarket chain
Minyard Food Stores Minyard may refer to:
* Ken Minyard (born 1939), American radio personality
* Minyard Food Stores, a supermarket chain in Texas, US
{{disambiguation ...
installed MoneyPass ATMs at its 72 stores.
By June 2004, MoneyPass had 200 participants and 8,000 ATMs.
Zions Bank
Zions Bancorporation is a bank holding company headquartered in Salt Lake City, Utah. Zions Bancorporation originated as Keystone Insurance and Investment Co., a Utah Corporation, in April 1955. In April 1960, Keystone, together with several in ...
joined in September 2004, adding 200 ATMs in Utah and Idaho.
Credit Union 24, which represents 410 credit unions with a total of 2,800 ATMs in 23 states, made a reciprocal agreement in November 2004 which would allow members of each networks to access ATMs on the other network surcharge free.
MoneyPass had 8,000 ATMs in all 50 states by the time
Citibank
Citibank, N. A. (N. A. stands for " National Association") is the primary U.S. banking subsidiary of financial services multinational Citigroup. Citibank was founded in 1812 as the City Bank of New York, and later became First National City ...
joined its network in October 2004 which added 2,600 Citibank ATMs to the network.
U.S. Bancorp acquired Genpass along with MoneyPass for an undisclosed amount in May 2005
and added its ATMs to the network to form a 12,000 ATM network in June 2006.
In June 2005,
KeyCorp
KeyBank, the primary subsidiary of KeyCorp, is a regional bank headquartered in Cleveland, Ohio, and is the only major bank based in Cleveland. KeyBank is one of the largest banks in the United States.
Key's customer base spans retail, small ...
signed an agreement with MoneyPass to allow Credit Unions and its other financial institutional clients that it services the option to connect to the MoneyPass network. This agreement only affected financial institutional clients and not KeyBank customers. As a part of the agreement, KeyBank customers were not given access to MoneyPass and MoneyPass customers were not allowed free access to KeyBank's large ATM network.
In July 2012,
Kroger
The Kroger Company, or simply Kroger, is an American retail company that operates (either directly or through its subsidiaries) supermarkets and multi-department stores throughout the United States.
Founded by Bernard Kroger in 1883 in Cincin ...
signed an agreement with U.S. Bancorp to have its Kroger Prepaid Debit Card customers be allowed surcharge free access at all MoneyPass ATMs.
In August 2017,
7-Eleven
7-Eleven, Inc., stylized as 7-ELEVE, is a multinational chain of retail convenience stores, headquartered in Dallas, Texas. The chain was founded in 1927 as an ice house storefront in Dallas. It was named Tote'm Stores between 1928 and 1946. A ...
signed an agreement with MoneyPass to have its ATMs at 8,000 of its 10,900 its American stores be a part of the surcharge free network.
In September 2018, Fiserv announced that it would acquire MoneyPass from US Bancorp for $690 million.
The deal was finalized in March 2019. At the time of the sale, MoneyPass had 33,000 ATMs.
See also
*
ATM usage fees
ATM usage fees are the fees that many banks and interbank networks charge for the use of their automated teller machines (ATMs). In some cases, these fees are assessed solely for non-members of the bank; in other cases, they apply to all users.
...
*
Debit Card
A debit card, also known as a check card or bank card is a payment card that can be used in place of cash to make purchases. The term '' plastic card'' includes the above and as an identity document. These are similar to a credit card, but u ...
References
External links
Paypal's MoneyPass cash card
{{U.S. Bancorp
Interbank networks
Banking in the United States
2003 establishments in the United States