MINNEAPOLIS--(BUSINESS WIRE)--June 27, 2006--U.S. Bank has joined
the MoneyPass surcharge-free ATM network giving customers
surcharge-free access to an additional 7,000 ATMs nationwide, in
addition to the nearly 5,000 U.S. Bank-owned ATMs that they already
use free of charge.
"MoneyPass is the fastest growing surcharge-free network in the
nation, and our customers will benefit tremendously from lower cost
ATM access nationwide. Customers who are not near a U.S. Bank ATM
should look for the MoneyPass logo to take advantage of the savings,"
said Steve SaLoutos, senior vice president of products and services at
U.S. Bank. "This new benefit cuts the customer's cost of using a
non-U.S. Bank ATM in half, as long as the ATM is part of the MoneyPass
network. We estimate it will save customers approximately $1.1 million
in ATM surcharge fees."
Depending on their account type, U.S. Bank customers may continue
to be assessed a fee when using non-U.S. Bank ATMs (also known as a
"foreign fee"). This fee covers the costs that U.S. Bank is charged
directly when its customers use ATMs owned by other financial
institutions. Customers save money through the elimination of the
surcharge fee, which is assessed by the owner of the ATM. U.S.
Bank-branded ATMs continue to be free for U.S. Bank account holders.
Customers are being notified of this new benefit through statement
messages, ATM screens and ATM receipts in July. Also, beginning in
July, a link to the MoneyPass ATM locator at www.moneypass.com will be
available through www.usbank.com.
The MoneyPass network is owned by Genpass, which U.S. Bank
acquired in 2005. Genpass operates as part of the Elan Financial
Services division of U.S. Bank. U.S. Bank is part of U.S. Bancorp
(NYSE:USB). With assets of $210 billion, U.S. Bancorp is the 6th
largest financial holding company in the United States. The company
operates 2,430 banking offices and 4,941 ATMs, and provides a
comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses
and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
CONTACT: U.S. Bank
Teri Charest, 612-303-0732
SOURCE: U.S. Bank