The new SUM Program participants bring the total number of surcharge-free ATMs available through the SUM program to nearly 200 in Chicagoland, northern Illinois, and southern Wisconsin. The SUM (which stands for âSaves U Moneyâ) Program is celebrating its 10th anniversary this year. It counts more than 500 other financial institutions in 27 states, including Puerto Rico, among its ranks. The offering allows cardholders of participating financial institutions to make surcharge-free withdrawals at nearly 2,900 designated ATMs of other SUM Program members.
Unlike other surcharge-free programs that require institutions to pay card royalty fees on their entire card base, the SUM Program fee structure is primarily based on usage. Participating institutions also may select the ATMs they wish to include in the program. NYCE also offers a marketing tool kit with pre-designed, fully customizable templates to help promote the program.
âWith its unique structure and low fees, the SUM Program delivers a flexible surcharge-free solution that allows participating institutions to retain control over their own surcharging revenue, while managing their expenses with an attractive per-transaction fee structure,â said Steve Rathgaber, president and chief operating officer at NYCE. âThese institutions join a steadily growing group across the country that see SUM as an economical and effective way to expand their geographic reach, providing greater convenience and surcharge-free access to funds for their customers and members.â