HOUSTON, March 21, 2006 (PRIMEZONE) -- Cardtronics Inc., the world's largest owner/operator of ATMs, announced the signing of an ATM branding agreement with Wachovia Corporation, the fourth largest bank holding company in the United States. Under the terms of the agreement, Wachovia has branded all of Cardtronics ATMs at Love Field Airport in Dallas, Texas. Inclusive of the added Love Field ATMs, Wachovia's total ATM footprint is now in excess of 5,125 machines. In addition, all Wachovia-branded ATMs at Love Field will be surcharge-free to Wachovia customers -- just like Wachovia's on-premise ATMs.
Wachovia Corporation is a diversified financial services company that provides a broad range of banking, asset management, wealth management, and corporate and investment banking products and services. Wachovia is one of the largest providers of financial services in the United States, operating as Wachovia Bank in 15 states from Connecticut to Florida and west to Texas.
"Wachovia went through a very thorough analysis regarding ATM branding," said Keith Myers, executive vice president of financial services for Cardtronics. "It is very gratifying for Cardtronics to earn the Wachovia business after such an analysis. For financial institutions, branding an ATM at a non-bank location is similar to adding a mini-branch location -- without the cost and risk associated with brick-and-mortar branches."
Of the over 26,000 ATMs Cardtronics manages across the United States, more than 10,000 are capable of being branded. Providing financial institutions the opportunity to brand these ATMs is an excellent means to increase their footprint -- while improving both customer service and convenience.
"Our ATM network is an important part of our growth in Texas," said Pete Jones, president of Wachovia's Dallas/Fort Worth region. "We see this opportunity at Love Field as a way to broaden our reach and create additional convenience for our customers, as a great complement to the 15 or so new financial centers we will open in Dallas-Fort Worth this year. We are delighted to partner with Cardtronics because of their demonstrated expertise in the branding of ATMs."
About Wachovia
Wachovia Corporation (NYSE:WB) is the fourth largest wealth manager in the U.S., based on private banking assets under management of $298 billion, defined as individual clients with accounts of at least $1 million, including some assets from Wachovia Securities and Wachovia Wealth Management (Barron's, October 2005). Wachovia is ranked as a top ten wealth manager in the world, according to The Wealth Partnership Review, published in London, April 2005.
Wachovia Corporation (NYSE:WB) is one of the largest providers of financial services to retail, brokerage and corporate customers, with banking operations from Connecticut to Florida and west to Texas, and retail brokerage operations nationwide. Wachovia had assets of $520.8 billion, market capitalization of $82.3 billion and stockholders' equity of $47.6 billion at Dec. 31, 2005. Its four core businesses, the General Bank, Capital Management, Wealth Management, and the Corporate and Investment Bank, serve 13 million household and business relationships primarily through 3,138 offices in 15 states and Washington, D.C. Its full-service retail brokerage firm, Wachovia Securities, LLC, also serves clients through 702 offices in 49 states and five Latin American countries. The Corporate and Investment Bank serves clients in selected industries nationwide. Global services are offered through 40 offices around the world. Online banking and brokerage products and services also are available through Wachovia.com.
About Cardtronics
Cardtronics, the world's largest owner/operator of ATMs, has a nationwide U.S. network of more than 26,000 locations operating in every major market and in all 50 states as well as 1,000 locations throughout the UK. Major merchant-clients include A&P(r), Albertson's(r), Amerada Hess(r), BP(r), Chevron(r), Costco(r), CVS(r)/pharmacy, ExxonMobil(r), Duane Reade(r), Rite Aid(r), Sunoco(r), Target(r) and Walgreens(r). Cardtronics also works closely with financial institutions across the U.S. to brand ATMs in these major merchants to provide convenient access for their customers and to preserve and expand their markets.
The Cardtronics logo is available at: http://www.primezone.com/newsroom/prs/?pkgid=991