ATM Alliance

Importance: 0.43

Is a company: no

Is a proper noun: no

Synonyms

  • automated teller machine alliance

Alternate Spellings

  • ABM
  • ATM
  • Automated Banking Machine

Definition of ATM Alliance

  1. An alliance of banks and/or credit unions designed to avoid or minimize surcharges for non-bank customers at ATM machines. A customer at one bank in the alliance can use surcharge-free ATMs at all the banks in the alliance. See also "Automated Teller Machine."

Related Terms and Acronyms

  • Automated Teller Machine (ATM) Acronym, Canada,
    • A terminal activated by a magnetically encoded card that allows customers of a bank or other financial institution to conduct everyday banking tasks such as deposits, withdrawals and transfers between accounts. An interconnection of these terminals allows customers to conduct certain transactions around the nation and the world; usually subject to a surcharge fee.
    See also Automated Banking Machine (ABM).
  • Electronic Commerce Definition,
    • The purchase or sale of products and services through an electronic system such as the Internet.
  • Bank Definition,
    • An institution that acts as a financial intermediary by receiving money from depositors and lenders and also lending to borrowers.
  • Debit Card (DC) Acronym, Important,
    • A payment card that is linked directly to a customer's bank account. Some cards require a personal identification number. Others require a customer's signature. A PIN-based or direct debit card removes a purchase price from a customer's chequing account almost immediately. A signature-based or deferred debit card has a Visa or MasterCard logo and removes the purchase price from a customer's bank account in two or three days.
  • ATM Surcharge Definition,
    • A fee charged to someone using a bank-owned ATM because he or she does not hold an account with that bank. It is a good idea to review what your bank charges you to use another bank's ATM system to avoid paying additional surcharges to your bank.
  • Annual Fee Definition,
    • A bank charge for use of a credit card levied each year, which can range from $15 to $300, billed directly to the customer's monthly statement. Many credit cards come without an annual fee.
Compare. Calculate. Apply today.
Compare Mortgage RatesMortgage CalculatorsApply for a Mortgage