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HOUSTON, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Investor Cash Management Holdings Inc. (ICM) has partnered with Cardtronics to provide its clients with surcharge-free cash at 55,000 Allpoint Network ATMs, further enhancing the value of its unique Mastercard investment debit card product. ICM unites the convenience of a cash management account with investments offering the client access to securities that now provide substantially higher-yields relative to traditional banks. Unlike illiquid high-yield savings accounts, ICM-powered accounts offer immediate liquidity via the Mastercard investment debit card, online bill pay and now with the surcharge-free Allpoint Network ATMs.
The Allpoint Network is the largest surcharge-free ATM network in the United States, enabling free and convenient access to cash for ICM cardholders. Allpoint Network ATMs are located in convenient retail locations across the country, including leading brands in the pharmacy, supermarket, convenience, hospitality and big-box retail segments. As a leading partner to fintech firms such as ICM, Cardtronics and its Allpoint Network provide the physical cash access points that consumers expect of their financial services providers.
“Consumers should not have to choose between convenience and higher returns. ICM has developed a unique solution that gives our clients the best of both worlds – the liquidity of a traditional bank account with the return of an investment account – now enhanced with easy surcharge-free cash access through the Allpoint Network,” said ICM CEO Fred Phillips. “Cardtronics, through Allpoint, gave ICM the nationwide cash access footprint our customers asked for virtually overnight, with surcharge-free ATMs in the places our customers shop and live.”
“Consumers expect easy, surcharge-free access to their cash whether banking with a traditional bank or an innovative fintech firm like ICM,” said Brian Bailey, Cardtronics EVP and Managing Director, North America. “By partnering with Cardtronics, ICM now participates in the largest surcharge-free ATM network, Allpoint, empowering their innovative investment debit card product to provide the cash access consumers need to make it a true alternative to traditional banking accounts.”
About Investor Cash Management
Investor Cash Management uses its patent-pending technology to link cash management accounts directly to specified SEC-registered securities (e.g., government money market and/or ultra-short bond funds), thereby transforming securities into digital currencies to make payments via debit card, ATM, and online bill pay. ICM supports its distribution partners – including asset managers, advisors, and affinity partners – by providing them with turnkey, customized white-label cash management accounts, including a customized mobile app on Apple and Android, desktop portal, and investment card (its patent-pending debit card linked to specified securities). For more information, please visit InvestorCashManagement.com.
About Cardtronics (Nasdaq: CATM)
Cardtronics is the trusted leader in financial self-service, enabling cash transactions at approximately 290,000 ATMs across 10 countries in North America, Europe, Asia-Pacific, and Africa. Leveraging our unmatched scale, expertise and innovation, top-tier merchants and businesses of all sizes use our ATM solutions to drive growth, in-store traffic, and retail transactions. Financial services providers rely on Cardtronics to deliver superior service at their own ATMs, on Cardtronics ATMs where they place their brand, and through Cardtronics' Allpoint Network, the world’s largest surcharge-free ATM network, with over 55,000 locations. As champions of cash, Cardtronics converts digital currency into physical cash, driving payments choice for businesses and consumers alike.
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