Vermont Bank Joins Allpoint Network

Merchants Bank, a South Burlington, Vt.-based financial institution, Wednesday announced it has joined Allpoint’s surcharge-free ATM network in a move designed to make the bank more competitive against larger rivals. “We wanted to provide our customers with more surcharge-free ATM touch points throughout Vermont and when they travel nationally and internationally,” says Thomas S. Leavitt, Merchant Bank’s executive vice president. Before joining Bethesda, Md.-based Allpoint, Merchants’ customers had surcharge-free access to 42 ATMs in Vermont. With the new agreement, Merchant Bank customers have access to Allpoint’s 37,500 surcharge-free ATMs nationally and in the United Kingdom, Mexico and Puerto Rico. The Allpoint agreement will make Merchants Bank more competitive against TD Banknorth, KeyBank and Citizens Bank, Leavitt says. “TD Bank advertises itself as the nation’s most-convenient bank, and ATM convenience is a key driver in customer acquisition,” says Ben Psillas, Allpoint president.