All Topics  
White Label ATMs in Canada

 

 
   Email Print
   Bookmark   Link
 

 

White Label ATMs in Canada
 
 
  Topics White Label ATMs in Canada Topic Home

White Label ABMs in Canada provide alternative source of cash dispensing vis-à-vis traditional automatic banking machines (ABMs) from banks.

Background
In Canada
Canada

Canada is a country occupying most of northern North America, extending from the Atlantic Ocean in the east to the Pacific Ocean in the west and northward into the Arctic Ocean....
, the major financial institutions
Big Five banks

Big Five is the name given to the five biggest banks that dominate the banking industry in Canada. All five banks are operationally headquartered in Toronto, Ontario....
 have their own branded ABMs located throughout the country. These ABMs prominently display the logo of the banks. A "white label" or "no name" ABM, which are usually located in non-traditional places, display no major bank labels on the actual ABM.






Discussion
Ask a question about 'White Label ATMs in Canada'
Start a new discussion about 'White Label ATMs in Canada'
Answer questions from other users
Full Discussion Forum



Encyclopedia


White Label ABMs in Canada provide alternative source of cash dispensing vis-à-vis traditional automatic banking machines (ABMs) from banks.

Background


In Canada
Canada

Canada is a country occupying most of northern North America, extending from the Atlantic Ocean in the east to the Pacific Ocean in the west and northward into the Arctic Ocean....
, the major financial institutions
Big Five banks

Big Five is the name given to the five biggest banks that dominate the banking industry in Canada. All five banks are operationally headquartered in Toronto, Ontario....
 have their own branded ABMs located throughout the country. These ABMs prominently display the logo of the banks. A "white label" or "no name" ABM, which are usually located in non-traditional places, display no major bank labels on the actual ABM. Before 1997, only banks and other deposit taking financial institutions were allowed to be part of the Interac
Interac

Interac Association is a Canada organization linking enterprises that have proprietary computer network so that they may communicate with each other for the purpose of exchanging electronic financial transactions....
 network. After 1997, independent operators were allowed to operate ABMs, not owned by major financial institutions.

In 2006, a little more than half of the 51,000 ABMs in operation in Canada were "white label".

White label fees


Customers usually pay an added fee to use these ABMs.

According to the Financial Consumer Agency of Canada
Financial Consumer Agency of Canada

The Financial Consumer Agency of Canada is an independent government agency of the Government of Canada.Created in 2001, the agency works to protect and inform consumers in the area of financial services....
 (FCAC), fees for using a "white-label" ATM can add up to over $6.00 per transaction. The same agency states that private (white-label) operators are "not required to adhere to a minimum or maximum limit", meaning that the fee amount is up to the operator. The operator is obliged, however, to disclose the fee to be charged and give the consumer the option of cancelling the transaction.

Private operators


Some of the providers in Canada
Canada

Canada is a country occupying most of northern North America, extending from the Atlantic Ocean in the east to the Pacific Ocean in the west and northward into the Arctic Ocean....
 include:
  • ATM Systems Ltd. of Toronto - 2000 http://www.atm4Canada.com
  • Cash N Go Ltd of Edmonton AB & Hamilton ON - 1998 http://www.cashngo.com
  • Direct Cash ATM of Calgary AB - 1998
  • Ezee ATM of Toronto ON
  • Frisco-Bay ATMs of Montreal QC is unit of Frisco-Bay Industries Ltd of Montreal - 1997 http://www.friscoatms.com"
  • Inkas Group of Toronto ON - 1998 http://www.inkas.ca
  • King Cash Corp. of Edmonton AB - 2001 http://www.kingcash.ca
  • Triton Canada Ltd of Calgary AB - 1997
  • Laser Cash owned by Threshold Financial of Mississauga ON http://www.threshold-fti.com
  • ClearCard is a National service provider of ATMs http://www.clearcard.ca