FreeATM has launched its first set of surcharge-free automated teller machines across the New York metropolitan area.
The ATMs have been installed at 25 locations in Manhattan, Brooklyn and Queens. FreeATM expects to have 55 ATMs deployed by the end of 2014.
Customers can use these ATMs for free, provided they watch an advertisement from a retailer. The ATMs also broadcast national and local news through a partnership with Metro.US.
FreeATM has secured partnerships with three ATM operators Everything ATM, ATM Access, and ATM Money Machine. They will beta-test 250 machines in the tri-state New York region, then expand to Boston, Philadelphia and Washington, D.C., FreeATM said in a Tuesday press release.
"Any customer from any bank can use our FreeATMs and save $1 to $3 by simply watching an advertisement from a targeted brand," Clinton Townsend, co-founder and chief executive of FreeATM, said in the release. "We hope that our customers, in turn, spend locally within their communities."