NU Online News Service, May 28, 2003, 11:21 a.m. EDT – Fiserv Inc., Brookfield, Wis., says workers will soon be able to use its payroll debit cards to collect their pay without worrying about automated-teller-machine surcharges.
Fiserv runs its payroll debit-card program with help from Financial Stored Value Payment Systems Ltd., Houston.
Banks that issue the cards usually let workers withdraw their pay at no cost, but, because of the lack of true national banks, multistate employers have had trouble making surcharge-free withdrawals available to all employees, Fiserv says.
Financial Stored Value has gotten around that problem by signing an agreement with ATM National Inc., Bethesda, Md., the operator of the new Allpoint surcharge-free ATM network. ATM National has installed Allpoint ATMs at 23,000 locations. Card issuers support the Allpoint ATMs by paying a flat monthly fee.
Workers who have Fiserv payroll debit cards will be able to use the Allpoint ATMs starting around mid-July, Fiserv says.