If you are starting an ATM business or you are an existing ATM business finding a bank can sometimes be a hassle. That being said, the majority of Independent ATM Deployers (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.

  • 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.
  • 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? WRONG! 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.
  • Show Gratitude. Always be thankful and grateful of their services. 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 – call your 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 – $.85 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.

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.

StateBank
AlabamaFirst Southern Bank
AlabamaRegions Bank
AlabamaIberia Bank
AlaskaCommunity First Bank
ArizonaFirst Fidelity Bank
ArizonaBMO Harris Bank
ArizonaDesert Financial FCU 
ArizonaPNC Bank
ArizonaNational Bank of Arizona 
ArkansasFirst Security Bank
ArkansasSimmons Bank
ArkansasFirst National Bank of Fort Smith
ArkansasArvest Bank
ArkansasBancfirst
CaliforniaUS Bank
CaliforniaComerica Bank
CaliforniaBank of the Sierra
CaliforniaHammi Bank
CaliforniaCitibank
ColoradoFirst National Bank of Omaha
ColoradoGrand Valley Bank
ColoradoSecurity Service Federal Credit Union
ColoradoKey Bank
ConnecticutWebster Bank NA
ConnecticutCitizens Bank NA
ConnecticutPolish & Slavic FCU Bank
DelawareOld National Bank
District Of ColumbiaFirst National Bank of Pennsylvania
FloridaRegions Bank
FloridaCentral National Bank
FloridaTruist Bank
FloridaFirst Horizon Bank
FloridaPNC Bank
FloridaWells Fargo Bank
GeorgiaSynovus Bank
GeorgiaTruist Financial
GeorgiaEmory Alliance Credit Union
GeorgiaCGR Credit Union
GeorgiaHeritage Bank
HawaiiFirst Hawaiian Bank
HawaiiWSFS Bank
HawaiiBank of Hawaii
HawaiiAmerican Savings Bank
IdahoBank of Idaho
IllinoisUS Bank NA
IllinoisBarrington Bank And Trust
IllinoisBank Of Farmington
IllinoisMillennium Bank
IllinoisOld National Bank
IllinoisBusey Bank
IndianaFifth Third Bank
IndianaLake City Bank
IndianaFirst Financial Bank NA
IndianaFirst Financial Bank
IndianaHorizon Bank
IndianaOld National Bank
IowaUnited Bank Of Iowa
IowaConnection Bank
IowaFifth Third Bank
IowaFirst Bankers Trust Co
IowaUS Bank NA
KansasCountry Club Bank
KansasCapitol Federal Savings Bank
KansasWestern State Bank
KansasBank of the West
KentuckyRiver City Bank Inc
KentuckyLimestone Bank
KentuckyBranch Banking & Trust Company
KentuckyThe Cecilian Bank
KentuckyPNC Bank
LouisianaIberia Bank
LouisianaOld National Bank
LouisianaFirst Guaranty Bank
LouisianaUS Bank NA
MaineGorham Savings Bank
MaineSaco Valley Credit Union
MaineAcadia Federal Credit Union
MaineBangor Savings Bank
MaineCounty Federal Credit Union
MarylandFirst National Bank of Pennsylvania
MassachusettsCitizens Bank NA
MassachusettsRockland Trust
MassachusettsCitizens Bank NA
MassachusettsEastern Bank
MichiganSouthern Michigan Bank & Trust
MichiganHuntington National Bank
MichiganComerica Bank
MichiganPNC Bank
MichiganComerica Bank
MichiganFifth Third Bank
MinnesotaOld National Bank
MinnesotaFirst Citizens National Bank
MississippiCommercial Bank
MississippiBancorp South Bank
MississippiOld National Bank
MississippiRenasant Bank
MississippiCitizens National Bank
MissouriCass Commercial Bank
MissouriSt Johns Bank And Trust
MissouriBank Of Farmington
MissouriFirst Premier Bank
MontanaGlacier Bank
MontanaTrailwest Bank
MontanaClearwater Credit Union
MontanaStockman Bank of Montana
NebraskaUS Bank NA
NevadaNevada Bank and Trust
NevadaNevada State Bank
New HampshireCitizens Bank NA
New JerseyValley National Bank
New JerseyPNC Bank
New MexicoLubbock National Bank
New MexicoInternational Bank
New YorkEmpire State Bank
New YorkCitibank NA
New YorkSignature Bank
New YorkCitizens Bank NA
North CarolinaBranch Banking & Trust Company
North CarolinaFirst Bank
North CarolinaFidelity Bank
North CarolinaFirst Citizens Bank
North DakotaStarion Bank
North DakotaState Bank & Trust of Kenmare
OhioLCNB National Bank
OhioFifth Third Bank
OhioPNC Bank
OhioLCNB National Bank
OhioFirst Merchants Bank
OklahomaBancfirst
OklahomaArvest Bank
OklahomaAll America Bank
OklahomaFirst Fidelity Bank
OklahomaVision Bank NA
OregonUmpqua Bank
OregonColumbia State Bank
OregonUS Bank NA
OregonSalal Credit Union
OregonWaFD Bank
PennsylvaniaPNC Bank
PennsylvaniaCitizens Bank NA
PennsylvaniaFirst National Bank of Pennsylvania
PennsylvaniaKeybank National Association
PennsylvaniaFleetwood Bank
Rhode IslandCitizens Bank NA
Rhode IslandBank Rhode Island
Rhode IslandCitizens Bank NA
South CarolinaCounty Bank
South CarolinaFirst Community Bank
South CarolinaFirst Palmetto Bank
South CarolinaFirst Citizens Bank
South CarolinaSouth State Bank
South DakotaFarmers State Bank
TennesseeTennessee State Bank
TennesseeFirst Bank
TexasThe Mint National Bank
TexasFrost Bank
TexasAmarillo National Bank
TexasAffiliated Bank
TexasUnited Bank of El Paso
TexasValuebank Texas
TexasTexas Regional Bank
UtahUmpqua Bank
VermontNorthfield Savings Bank
VirginiaOld National Bank
VirginiaAtlantic Union Bank
WashingtonSalal Credit Union
WashingtonKey Bank
WashingtonColumbia State Bank
WashingtonTimberland Bank
WashingtonBanner Bank
West VirginiaHuntington National Bank
West VirginiaUnited Bank Inc
WisconsinThe Pineries Bank
WisconsinState Bank Of Chilton
WisconsinUS Bank NA
WisconsinFortifi Bank
WisconsinCommunity First Credit Union
WyomingPinnacle Bank Wyoming
WyomingMountain America Credit Union
WyomingIndependent Bank

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
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!