“With closures exploding in recent weeks, there could have been no better time for this year’s ATMs Go to Washington annual fly-in,” said NAC Board Chair and Access One CEO, George Sarantopoulos. “Thankfully, our large NAC delegation from across the U.S. did a great job and was able to make a major impact in fighting the bank account blacklisting scourge for our industry.”
NAC’s latest efforts focus on pursuing an aggressive educational outreach with all parties involved to ensure a fuller understanding of the extensive checks and balances already in place to assure no misuse of independent ATMs for any illicit activity. This includes in-depth oversight, vetting, background checks, and due diligence review to which all ATM deployers are subjected to from their sponsoring banks, ATM processors, and the debit networks to be authorized to deploy ATMs.
According to association officials, NAC is working with all parties involved to develop a consensus solution that will in fact restore reasonable access to banking services for all U.S. ATM companies that operate in accordance with all these current requirements, NAC’s ATM Vault Cash & Settlement Account Guidelines, and any other reasonable measures that will provide comfort to the banks and banking regulators that no misuse of the ATMs is occurring for money laundering or any other unlawful purpose.
The National ATM Council, Inc. is a not-for-profit national trade association dedicated to ethically and effectively representing the business interests of ATM Owners, Operators and Suppliers in their efforts to provide safe, secure and convenient delivery of cash to consumers throughout the U.S.
For additional information, visit the NAC website here.