You might not realize it, but the next time you make a deposit or withdrawal at an ATM, it may belong to three of the country’s biggest ATM networks: Allpoint, MoneyPass or CO-OP. Each of these companies operates a nationwide network of thousands of ATMs that enable fee-free transactions.
In many cases, Allpoint and MoneyPass team up with banks to provide fee-free ATM access to the banks’ customers. Some Allpoint and MoneyPass ATMs are located at stores such as Costco, CVS Pharmacy, 7-Eleven, Target, Walgreens and Walmart.
Many credit unions belong to the CO-OP ATM Network, whose machines are located at retailers like Circle K, Costco and Publix.
“From the consumer standpoint, all ATM networks are going to be pretty much the same. And a single transaction could touch multiple networks from start to finish, depending on how it is routed,” says David Tente, executive director of the U.S. and Americas at the ATM Industry Association. “The only big difference is that a few networks are surcharge-free — Allpoint, MoneyPass, CO-OP. And in most cases, transactions on ATMs operated by your own bank are free, although some may limit how many free withdrawals you can make in a month.”
[Read: Best Savings Accounts.]
How Do ATM Networks Work?
ATM networks are collections of ATMs owned and operated by banks, credit unions or financial services companies. Some bank or credit union customers enjoy low-fee or no-fee access to these ATM networks, either a network operated by a financial institution or network run by a company like Allpoint or MoneyPass.
But if an ATM is outside a financial institution’s network, a consumer likely will be charged fees by the ATM operator and their financial institution to make deposits or withdrawals. Some financial institutions reimburse customers for fees from out-of-network ATM transactions, though.
[Read: Best Online Banks.]
Allpoint vs. MoneyPass vs. CO-OP
Three of the biggest players in the ATM industry are Allpoint, MoneyPass and CO-OP. Each company has formed partnerships with an array of financial institutions. For example, TD Bank is part of the Allpoint network, while U.S. Bank is part of the MoneyPass Network. Capital One taps into both networks. Navy Federal, the largest credit union in the country, is part of the CO-OP network.
[SEE: Best Free Checking Accounts]
ATM Networks for 20 Largest Banks
The following table shows what ATM networks the 20 largest U.S. consumer banks use.
| Bank | ATM network(s) |
| JPMorgan Chase | Chase |
| Bank of America | Bank of America, Cirrus |
| Citibank | Citibank, Cirrus, Maestro |
| Wells Fargo | Wells Fargo, Plus |
| U.S. Bank | U.S. Bank, MoneyPass |
| Goldman Sachs | Debit and ATM cards unavailable for Marcus savings accounts |
| PNC Bank | PNC, Allpoint, MoneyPass |
| Truist | Truist, Allpoint |
| Capital One | Capital One, Allpoint, MoneyPass |
| TD Bank | TD, Allpoint |
| BMO Bank | BMO, Allpoint |
| First Citizens Bank | First Citizens, Allpoint, MoneyPass |
| Morgan Stanley Private Bank | Mastercard, Maestro, STAR |
| Citizens Bank | Citizens, Allpoint, MoneyPass |
| Fifth Third Bank | Fifth Third, Allpoint, Presto!, 7-Eleven |
| M&T Bank | M&T |
| Huntington Bank | Huntington |
| American Express National Bank | Allpoint, MoneyPass |
| KeyBank | KeyBank, Allpoint |
| Ally Bank | Allpoint, MoneyPass |
Does It Matter Which ATM Network You Use?
Yes, it does matter which ATM network you use. Why? It’s a matter of money.
Let’s say you’ve got a checking account and debit card from XYZ Bank. XYZ belongs to the Allpoint ATM network.
While you’re out and about, you use your debit card to withdraw cash. But instead of an Allpoint ATM, you went to a MoneyPass ATM. Your bank isn’t a member of the MoneyPass network, so you could face an ATM fee from MoneyPass and from XYZ.
Sherri Booth, deposit product manager at Premier Members Credit Union, recommends always checking to see whether you’ll be charged a fee to use a certain ATM.
Michael Kelly, executive director of TransFund, a nationwide payment network and ATM processor, noted that each ATM network sets its own fees. Under federal law, ATM operators must notify consumers before an ATM fee is charged.
“Sometimes banks pass these fees on to their customers,” Kelly says. “Some networks allow a bank’s customers to access thousands of ATMs surcharge-free in exchange for paying a higher interchange fee.”
Merchants pay an interchange fee to a card issuer whenever a consumer uses a debit or credit card from the issuer to make a transaction.
[See: Best High-Yield Savings Accounts]
Compare ATMs Fees at Financial Institutions
Kelly says that when comparing financial institutions, figure out whether they’ll offer fee-free ATM access or waive ATM fees.
“Finding the right ATM or network to use will vary by location,” he says.
For example, a 7-Eleven ATM in Oklahoma might charge a $1.50 fee, while a 7-Eleven ATM in Texas might charge $3.25. This gap could, at least in part, be due to the ATMs operating on different networks, according to Kelly.
“Customers should be aware of which ATMs their financial institution allows them to use with no fees,” says Kelly. “Some banks provide a standard credit — $20, for example — toward ATM fees, and after that credit is used, they no longer reimburse for additional fees.”
Typically, you can find this information on your financial institution’s website or app.
“It is common to be charged a fee for using out-of-network ATMs, generally between $1.50 and $5,” says Laura Sterling, vice president of marketing at Georgia’s Own Credit Union. “As a consumer, it’s good to know what in-network ATMs are nearby. If you are in a bind and simply have to use an out-of-network ATM, check the fees for your available options and try to use whichever one meets the intersection of most convenient and lowest cost.”
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Is There a Difference Between ATM Networks? How Allpoint, MoneyPass and CO-OP Compare originally appeared on usnews.com
