Citizens Financial Group, Inc., has announced its second partnership this year with ATM operator EDC, which will see the deployment of nearly 600 ATMs at Cumberland Farms store locations in New England, the Mid-Atlantic and Florida.
The agreement between EDC and Citizens Financial Group follows their first partnership announcement in March to brand nearly 500 ATMs in Sunono APlus convenience stores in 12 east coast states and Washington, DC, according to ATMMarketplace.com.
Both deals included ATM manufacturer Nautilus Hyosung America Corp. EDC is placing Nautilus Hyosung’s Monimax 5300, which allows Citizen Financial customers to make cash withdrawals surcharge-free, in Cumberland Farms and Sunoco stores.
Nautilus Hyosung expanded its role in the financial-services market in 2008 when Citibank began deploying its deposit-taking and cash-dispensing ATMs, according to ATMMarketplace.com.
Citizens Financial Group is owned by the Royal Bank of Scotland Group in Edinburgh, Scotland, which owns Charter One Financial. As a result, Charter One bank customers will also be able to make cash withdrawals surcharge-free from the Monimax ATMs.
Financial experts said the agreement with Citizens Bank is significant for Nautilus Hyosung since it can use the deal as a reference to other financial institutions and show that it has have an inexpensive way of increasing its surcharge-free ATM footprint, according to ATMMarketplace.com.
The most recent deal has added nearly 1,100 ATMs to the EDC portfolio in several months and approximately 4,000 turnkey ATMs under EDC management, raising the company’s profile in the ATM ISO market.
Before selecting EDC and Citizens Bank, Cumberland Farms, which is based in Framingham, Mass., previously had a contract with Cherry Hill, N.J.-based Access to Money.
Sunoco APlus, which is owned by Sunoco Inc., the Philadelphia-based petroleum and petrochemical company, previously had a contract with Cardtronics Inc., the Houston-based ATM ISO.
EDC began deploying the ATMs in May and will complete placement in September. Nearly 600 ATMs will be placed in Connecticut, Delaware, Florida, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, according to ATMMarketplace.com.
Nearly 500 ATMs were deployed in Delaware, Florida, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina and Washington,
D.C., after Citizens and EDC announced their first agreement in March.