MasterCard OKs National Surcharge-Free Network

MasterCard International said it has modified its rules to facilitate formation of the first national surcharge-free ATM alliance (SFA) among participating financial institutions. Effective immediately, Cirrus card issuers and Cirrus ATM acquirer financial institutions will be permitted to form bilateral or multilateral agreements allowing cash withdrawals through the Cirrus/MasterCard ATM network in the United States, without the imposition of an access fee on the cardholder transaction. It noted that Cirrus members are not compelled to participate in an SFA, or make any operational changes.