NEW YORK (12/13/11)--A New York entrepreneur has introduced an ATM that offers users the option of viewing a third-party advertisement to opt out of surcharge fees.
Free ATMs NYC, founded by 25-year-old Brooklyn, N.Y., resident Clinton Townsend, uses targeted advertisements to cover the costs of an ATM surcharge outside of its network (ABC News Dec. 12).
The transactions do not take any longer because the commercials play during the time the transaction is processing, Townsend said.
The ATMs also give consumers the option of donating the surcharge to charity.
ATM receipts may include a coupon redeemable at a local business.
There is one catch to Free ATMs NYC's strategy: The company can't remove fees that consumers' financial institutions charge them for using out-of-network ATMs (Digital Journal Dec. 12).
Free ATMs NYC placed its first ATM in a Brooklyn music venue and bar. Townsend plans to expand the concept throughout New York City.
Diebold, a CUNA Strategic Services provider, offers Campaign Office, a marketing tool that uses demographic and account information to present specific advertising relevant to the ATM user's interests and needs. For more information use the link.