Updated January 22, 2024

If you are starting an ATM business or if you are an existing ATM business finding a bank can sometimes be a hassle. That being said, the majority of Independent ATM Deployer’s (IAD’s) processing with us have absolutely no issues however the few that do- maintaining a bank can be a major roadblock and pain in the neck!

First off – businesses who own and fill their own ATMs typically have absolutely no issues. If you are planning on buying your own ATM for your business- you can disregard this post completely. You can normally bank with your existing bank/ existing account with no problems. This post has nothing to do with you, and there is really nothing to worry about.

Unfortunately though it is more common for small to mid sized IAD’s to have issues. There are many reasons why this is happening- we are not going to get into specifics on that for this post, but focus on helping IAD’s find a bank, maintain that relationship and provide you with a list of what we can tell are “ATM business friendly banks” in each state as a starting point in your search.

Here are some other recommendations:

• Have the proper documentation. Along with all the standard business documentation, some banks will ask for copies of your processing agreement with your ISO. Some will ask for copies of your agreements with your merchants (if you are a customer, we can provide samples). Some will ask for your Bank Sponsorship Agreement (we can provide – our sponsor bank is Pathward, formerly Metabank). Some will ask for transaction statements – history for last 12 months for all your ATMs. Rule of thumb- whatever they ask – give them in a timely and organized fashion. Additionally your ISO should have all the proper documentation you need. Keep detailed records of this information and be ready to provide them in a moments notice.

• The word ATM is a scary word to banks for some reason. We have always suggested companies do not have the word “ATM” in their official business name. We have also been told this by several NY banks which we maintain relationships with- as well as our own customers have reported this to us.

• Be courteous, friendly and as easy to work with as possible! Sounds silly right? Lots of people have the attitude Banks should earn your business, right? We’ll Not in the ATM business!!! Finding a bank sometimes can be frustrating, and it is sometimes difficult to take your frustrations out on that specific bank when emotions run high. Always have the mindset that the Bank is doing you a favor and you are going to be a headache/ liability for them. Remember – they don’t HAVE to do business with you. So be as polite as possible. Show them respect, and jump through as many hoops as they ask of you. Be Kind, Courteous and Thankful at all times!

• Show Gratitude. As mentioned above- always be thankful and grateful of their services. Show them your gratitude. Buy them coffee once a month, bagels, breakfast, etc. Keep them happy and on your side. Be their best customer, so they can fight to keep you. Expand your relationship with them. Bank with them personally. Get your next credit card/ car/ boat/ home loan through them. Apply for a business loan/ line of credit. Increase your “stickiness” to them if that makes sense!

• Have a backup plan! For large IADs we always recommend maintaining two banking relationships. Maybe one for vault cash, another for surcharge. Regardless of what it costs you to keep an extra account open – always have a Plan B. Remember, if you have no bank account- you have no way to get your funds. You will be out of business until you do so. A few bucks a month to keep a business checking account open may be well worth it if you ever need to use Plan B.

• Be Honest With them. Meaning tell them you are an ATM business. Ask them if they are OK with that. Tell them how much cash you will need and the frequency of when you will need it. Tell them what denominations you will need. Tell them how much will be in your account on a regular basis. Put all your cards on the table and allow them to make a decision to be your bank. When you are both on the same page- expectations can be managed appropriately.

• Look towards Local Regional Banks/ Credit Unions/ Community Banks. Smaller banks quite simply- are more eager to win your businesses than the big guys who honestly don’t care. That being said, sometimes smaller banks can not manage huge volumes. Start a conversation with whomever is most convenient to you. Just make sure they understand your needs (above) and can manage your volume. Historically speaking, IADs have a better track record with smaller FI’s than Tier 1 FI’s who are more notorious for either not taking IAD accounts and or closing accounts. That being said, we still have a the majority of IAD’s with Tier 1 FI’s- listed separately below. So we can not rule them out completely or discard them.

• Considered Armored Pickup/ Deliveries. Sometimes a major roadblock with banks is they simply don’t have the funds you require on hand. Always have a Plan C. Find a local armored carrier to see if they have delivery services/ pick up services. You will need to bank with whomever the carriers is tied into- but this may eliminate your issue completely. Typical charges are $.65 – $1.00 per strap. Normally they only deliver to businesses, so if you do not have a commercial office, you may have to pick up from them, or have a business for them to deliver. This may sound super expensive- but most of our larger affiliates have moved towards this method in the past few years. It is safer, usually easier and problem free. Typically the quality of bills are often much, much much better than Banks can provide as well which is an added plus. Sometimes Banks can set this up for you. Ask your bank relationship manager if this is an option.

Hopefully the above tips help. As always, reach out to us and we are happy to help you out any way we can. Even if you need us to write a letter/ send information to your bank/ work with your banker.

List of ATM Business Friendly Banks

Here is a list of “ATM business friendly banks” in every state. This list is meant to be used as a starting point- and in no way is a sure thing.

Our company has always been of the mindset “together we can overcome”. With that mindset- if you wish to help other IADs in your state OR if you are an ATM business friendly financial institution- to get added to the list please comment below with your bank name and or the number of ATMs you have or email us privately at info@bpsands.com.

Disclaimer

Please note that Best Products does not endorse any of these Financial Institutions nor do we receive any monetary compensation for publishing this list. We make no guarantees that any of these Financial Institutions will accept your ATM business – that is solely up to the discretion of the Financial Institution. Additionally, just because we only list one or two Financial Institutions in your state – does not mean they are the only Financial Institutions in that state that accept ATM businesses. It just means that we are aware of at least one IAD who uses that particular FI or an IAD in that state is using a Tier 1 Financial Institution listed below separately. Please also note that listing ATM friendly banks is no easy task. Bank relationships are very subjective. For example we have IAD’s who bank with Tier 1’s and have been with them forever. We have had IAD’s accounts get closed out of the blue. We have IAD’s switch from one Tier 1 to another Tier 1 on a daily basis – just because they are getting a better deal elsewhere. So it is very hard to just make a blanket statement and say XYZ bank does not work with IAD’s- when in fact they do. Ultimately the decision to work with an individual IAD’s is up to that bank- and following our tips to open your account and maintain the relationship may really be better advice than just going by this list.

State	Bank
Alabama	First Southern Bank
Alabama	Regions Bank
Alabama	Iberia Bank
Alaska	Community First Bank
Arizona	First Fidelity Bank
Arizona	BMO Harris Bank
Arizona	Desert Financial FCU
Arizona	PNC Bank
Arizona	National Bank of Arizona
Arkansas	First Security Bank
Arkansas	Simmons Bank
Arkansas	First National Bank of Fort Smith
Arkansas	Arvest Bank
Arkansas	Bancfirst
California*	US Bank
California*	Comerica Bank
California*	Bank of the Sierra
California*	Hammi Bank
California*	Citibank
Colorado	First National Bank of Omaha
Colorado	Grand Valley Bank
Colorado	Security Service Federal Credit Union
Colorado	Key Bank
Connecticut	Webster Bank NA
Connecticut	Citizens Bank NA
Delaware	Old National Bank
District Of Columbia	First National Bank of Pennsylvania
Florida	Regions Bank
Florida	Central National Bank
Florida	Truist Bank
Florida	First Horizon Bank
Florida	PNC Bank
Florida	Wells Fargo Bank
Georgia	Synovus Bank
Georgia	Truist Financial
Georgia	Emory Alliance Credit Union
Georgia	CGR Credit Union
Georgia	Heritage Bank
Hawaii	First Hawaiian Bank
Hawaii	WSFS Bank
Hawaii	Bank of Hawaii
Hawaii	American Savings Bank
Idaho	Bank of Idaho
Illinois	US Bank NA
Illinois	Barrington Bank And Trust
Illinois	Bank Of Farmington
Illinois	Millennium Bank
Illinois	Old National Bank
Illinois	Busey Bank
Indiana	Fifth Third Bank
Indiana	Lake City Bank
Indiana	First Financial Bank NA
Indiana	First Financial Bank
Indiana	Horizon Bank
Indiana	Old National Bank
Iowa	United Bank Of Iowa
Iowa	Connection Bank
Iowa	Fifth Third Bank
Iowa	First Bankers Trust Co
Iowa	US Bank NA
Kansas	Country Club Bank
Kansas	Capitol Federal Savings Bank
Kansas	Western State Bank
Kansas	Bank of the West
Kentucky	River City Bank Inc
Kentucky	Limestone Bank
Kentucky	Branch Banking & Trust Company
Kentucky	The Cecilian Bank
Kentucky	PNC Bank
Louisiana	Iberia Bank
Louisiana	Old National Bank
Louisiana	First Guaranty Bank
Louisiana	US Bank NA
Maine	Gorham Savings Bank
Maine	Saco Valley Credit Union
Maine	Acadia Federal Credit Union
Maine	Bangor Savings Bank
Maine	County Federal Credit Union
Maryland	First National Bank of Pennsylvania
Massachusetts	Citizens Bank NA
Massachusetts	Rockland Trust
Massachusetts	Citizens Bank NA
Massachusetts	Eastern Bank
Michigan	Southern Michigan Bank & Trust
Michigan	Huntington National Bank
Michigan	Comerica Bank
Michigan	PNC Bank
Michigan	Comerica Bank
Michigan	Fifth Third Bank
Minnesota	Old National Bank
Minnesota	First Citizens National Bank
Mississippi	Commercial Bank
Mississippi	Bancorp South Bank
Mississippi	Old National Bank
Mississippi	Renasant Bank
Mississippi	Citizens National Bank
Missouri	Cass Commercial Bank
Missouri	St Johns Bank And Trust
Missouri	Bank Of Farmington
Missouri	First Premier Bank
Montana	Glacier Bank
Montana	Trailwest Bank
Montana	Clearwater Credit Union
Montana	Stockman Bank of Montana
Nebraska	US Bank NA
Nevada	Nevada Bank and Trust
Nevada	Nevada State Bank
New Hampshire	Citizens Bank NA
New Jersey	Valley National Bank
New Jersey	PNC Bank
New Mexico	Lubbock National Bank
New Mexico	International Bank
New York	Dime Bank (Difficult Application Process)
New York	Empire State Bank
New York	Citibank NA
New York	Flagstar Bank
New York	Citizens Bank NA
New York	Valley Bank (Difficult Application Process)
North Carolina	Branch Banking & Trust Company
North Carolina	First Bank
North Carolina	Fidelity Bank
North Carolina	First Citizens Bank
North Dakota	Starion Bank
North Dakota	State Bank & Trust of Kenmare
Ohio	LCNB National Bank
Ohio	Fifth Third Bank
Ohio	PNC Bank
Ohio	LCNB National Bank
Ohio	First Merchants Bank
Oklahoma	Bancfirst
Oklahoma	Arvest Bank
Oklahoma	All America Bank
Oklahoma	First Fidelity Bank
Oklahoma	Vision Bank NA
Oregon	Umpqua Bank
Oregon	Columbia State Bank
Oregon	US Bank NA
Oregon	Salal Credit Union
Oregon	WaFD Bank
Pennsylvania	PNC Bank
Pennsylvania	Citizens Bank NA
Pennsylvania	First National Bank of Pennsylvania
Pennsylvania	Keybank National Association
Pennsylvania	Fleetwood Bank
Rhode Island	Citizens Bank NA
Rhode Island	Bank Rhode Island
Rhode Island	Citizens Bank NA
South Carolina	County Bank
South Carolina	First Community Bank
South Carolina	First Palmetto Bank
South Carolina	First Citizens Bank
South Carolina	South State Bank
South Dakota	Farmers State Bank
Tennessee	Tennessee State Bank
Tennessee	First Bank
Texas	The Mint National Bank
Texas	Frost Bank
Texas	Amarillo National Bank
Texas	Affiliated Bank
Texas	United Bank of El Paso
Texas	Valuebank Texas
Texas	Texas Regional Bank
Utah	Umpqua Bank
Vermont	Northfield Savings Bank
Virginia	Old National Bank
Virginia	Atlantic Union Bank
Washington	Salal Credit Union
Washington	Key Bank
Washington	Columbia State Bank
Washington	Timberland Bank
Washington	Banner Bank
West Virginia	Huntington National Bank
West Virginia	United Bank Inc
Wisconsin	The Pineries Bank
Wisconsin	State Bank Of Chilton
Wisconsin	US Bank NA
Wisconsin	Fortifi Bank
Wisconsin	Community First Credit Union
Wyoming	Pinnacle Bank Wyoming
Wyoming	Mountain America Credit Union
Wyoming	Independent Bank

*If you are located within the state of California. Finding a bank is very difficult. Some ATM companies tell you to avoid that state at all cost. We have a few names to our list based on existing customers, but it has been reported that new account openings are limited.

Tier 1 Financial Institutions

Disclaimer

Please note that these Tier 1 Financial Institutions are known to close accounts/ not accept IAD’s – HOWEVER we still have the vast majority of IAD’s utilizing them/ opening new accounts with them. We have a greater numbers of terminals with these Tier 1’s than the above list therefore we do not think removing them is correct. We would not rule these out, but be cautious.

M & T Bank (Requires you fill out an annual form in branch)

Wells Fargo

Bank of America

JP Morgan Chase

TD Bank

If you are an IAD and would like to help others like you in your state or an “ATM Business Friendly Bank”- please share your bank name and or number of terminals in the comments section or privately email us at info@bpsands.com!