Thursday, December 2, 2010

Star 2011 ATM Fee Changes Effective April 1, 2011


The Star Network has published the following ATM fee changes. Effective April 1, 2011:

1) Elimination of Star ATM Convenience Fee
Effective April 1, 2011, Star is eliminating the $0.035 ATM Convenience fee on surcharged transactions.
2) Implementation of Star ATM Acquirer Fee.
Effective April 1, 2011, Star begins assessing an ATM Acquirer Fee of $0.05 on every Star ATM transaction for which interchange is paid. This fee is assessed on both surcharged and non-surcharged and financial and non-financial transactions.

The Star network pays interchange of $0.54 per ATM financial transaction and $0.25 per ATM non-financial transaction on off-premise ATMs. The net effect resulting from the ATM Acquirer Fee for an ATM financial transaction is $0.49; the net effect resulting from the ATM Acquirer Fee for an ATM non-financial transaction is $0.20.

About STAR
The STAR® Network enables consumers to use their ATM / debit cards to obtain cash and make purchases quickly and securely throughout the United States. With a singular focus on real-time debit payment processing for more than 25 years, STAR is committed to driving increased reliability, security, cardholder convenience, and choice wherever and whenever consumers demand access to their money. STAR puts its debit expertise and industry knowledge to use for its clients – which include financial institutions, retailers, processors and billers – delivering innovative services as well as market insights that help them increase the value they derive from their debit programs. For more information, visit www.star.com.

Helmed by gaming payments industry veterans Kirk Sanford, Tom Sears, and Diran Kludjian, Sightline Payments has invested considerably on innovative payment technologies to the gaming market ensuring the most reliable, secure, and convenient solutions for consumers to access their funds in a casino. Sightline’s transformational approach to the industry focuses on delivering solutions that none of their competitors offer that can generate new and meaningful revenue and reduce expenses to the casino operator.

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