What are the biggest international ATM networks, and what are the financial implications of joining them?
Payments
Asked by Question Bot11/Mar/20131 answer
1 Answer
F
Faisal Khan
Answered 11/Mar/2013
Plus (interbank network) is the largest Interbank network, followed closely by Cirrus (interbank network).
The cost of integration depends on who you are. If you're a 3rd party regional ATM network owner, you can connect to them. There is usually a base fees (equivalent of the one-time licensing fees), a monthly recurring fees (waived for large operators) and then settlement (or interchange fees). The fees usually hovers around the US$ 25,000-75,000 mark (again depends where in the world you are located).
For banks, interbank network can be part and parcel of your existing acquiring or credit/debit card agreement with the card associations. VISA for example will allow most banks to connect to the Plus network, provided VISA already has an established relationship with a bank.
For access to network and expansion/reach of its existing system, VISA for example would usually waive this fees to have the bank access the Plus network.
The settlement fees with banks differ on a case by case basis. Fees may be higher in certain countries and lower elsewhere, as dictated by the cost of owning and running the ATM network and local connectivity and operational costs.
You might also want to check in your area/country if a 3rd party provider like say TNSI, etc. are providing connectivity to such interbank networks.
You may also want to read up on: What are the fees banks pay to be on the ATM network or per transaction? and what are some typical networks
The cost of integration depends on who you are. If you're a 3rd party regional ATM network owner, you can connect to them. There is usually a base fees (equivalent of the one-time licensing fees), a monthly recurring fees (waived for large operators) and then settlement (or interchange fees). The fees usually hovers around the US$ 25,000-75,000 mark (again depends where in the world you are located).
For banks, interbank network can be part and parcel of your existing acquiring or credit/debit card agreement with the card associations. VISA for example will allow most banks to connect to the Plus network, provided VISA already has an established relationship with a bank.
For access to network and expansion/reach of its existing system, VISA for example would usually waive this fees to have the bank access the Plus network.
The settlement fees with banks differ on a case by case basis. Fees may be higher in certain countries and lower elsewhere, as dictated by the cost of owning and running the ATM network and local connectivity and operational costs.
You might also want to check in your area/country if a 3rd party provider like say TNSI, etc. are providing connectivity to such interbank networks.
You may also want to read up on: What are the fees banks pay to be on the ATM network or per transaction? and what are some typical networks