HOUSTON (10/4/12)--Retail ATM owner/operator Cardtronics Inc. has launched FeeAlert, a new product that helps financial institutions steer their members and customers toward in-network ATMs--and away from ATM fees.
FeeAlert helps credit unions and banks support their members in avoiding fees. By analyzing an individual's ATM use, FeeAlert enables financial institutions to deliver a list of nearby surcharge-free ATMs.
FeeAlert checks for nearby in-network ATMs even when a member forgets to use a credit union's ATM locator.
Cardholders enroll in their participating financial institutions' FeeAlert program, and indicate whether they prefer to receive notifications via text messaging or email. Members receive personalized alerts from their credit unions when they use an out-of-network, fee-charging ATMs. Alerts will point them to the nearest surcharge-free ATM, which they can use for their next transaction.
If a member subsequently use an out-of-network ATM, FeeAlert generates a list (via geo-location technology) of nearby surcharge-free ATMs. The financial institution then "pushes" results to the cardholder, using the preferred means of communication.