Last week the CTA terminated a contract for Fifth Third Bank’s ATMs at 60 CTA locations because the bank refused to allow free ATM withdrawals with the Ventra debit card.
Meanwhile, days later, the CTA welcomed PNC Bank to install 65 more ATMs at CTA locations. It already has 15 locations on CTA properties. Under the agreement with CTA, PNC will pay a fixed rate amount of rent and a percentage of transaction sales to the CTA and a monthly electric charge. The five-year agreement is estimated to generate $5.2 million.
Including the new ATMs, the CTA will have a total of 154 ATMs. Last year revenue from ATMs generated $1.4 million for the agency.
Customers with Ventra cards have the option of activating the debit card feature Ventra. The CTA made some changes to the fee structures for the Ventra debit card, making the debit deal a little better.
Subscribe now to receive CTA Tattler via email. Type your email address in the box and click the “create subscription” button. My list is completely spam free, and you can opt out at any time.