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DALLAS -- 7-Eleven, Inc. will offer customers of TCF National Bank free ATM transactions in its stores under a new agreement signed by the Dallas-based chain.
"TCF Bank and 7-Eleven are both open 7 days a week to respond to the needs of the busy consumer," said Rick Updyke, 7-Eleven's vice president of business development. "With this agreement, TCF's current and prospective customers have more convenient locations to conduct their daily financial transactions along with satisfying their convenience needs."
ATMs will be labeled with TCF Bank signage inside 7-Eleven stores in Colorado, Illinois, Indiana and the greater Detroit area. Customers will be able to take advantage of the 583 ATMs, including 7-Eleven's 100 Vcom financial services kiosks, at stores in those states -- all without ATM fees. All the locations are open seven days a week, 24 hours a day.
Vcom, short for "virtual commerce," is 7-Eleven's proprietary, self-service machine, which allows customers to cash payroll, tax refund and government checks, pay certain bills, conduct ATM transactions, money transfers and purchase money orders and stored-value cards.
Through 7-Eleven's ATMs, TCF Bank customers can withdraw cash and/or transfer funds between accounts, as well as purchase Western Union money transfers at Vcom kiosks in area 7-Eleven stores, while purchasing gasoline or grabbing a sandwich and beverage.
"Just like 7-Eleven customers, TCF Bank customers are oriented toward convenience in their daily lives," said Dan Engel, senior vice president and head of the Wayzata, Minn.-based bank's ATM network. "Because we share the same customer base in many respects, partnering with 7-Eleven to expand our ATM presence by more than 580 locations makes customer access to their money and to the variety of products offered by 7-Eleven that much more convenient."