Jul 25, 2012
Valero Makes ATM Deal With Frost Bank
SAN ANTONIO -- Valero Energy Corp. has reached a deal with Frost Bank and Cardtronics for the installation of 615 ATMs at Valero Corner Stores in Texas. Installation of the automated teller network will be complete by Aug. 15.
"We welcome Frost's customers to our Corner Store locations in Texas," said Gary Arthur, president, Valero Retail. "Frost customers can look forward to enjoying the same great fast, friendly service as other Corner Store customers do today."
With the addition of the 615 Cardtronics-owned ATMs at Valero Corner Stores, Frost will more than double the number of ATMs accessible to its customers free of charge. The pact with Valero, combined with the 469 ATMs operated by Frost, will increase the bank's overall ATM network in Texas to 1,084.
"This partnership brings together three Texas-based companies -- Frost, Cardtronics and Valero -- in a move that significantly expands the number of ATMs our customers can use free of charge. We are making it easier for our customers to do business with us by giving them more access to their money," said Frost Chairman and CEO Dick Evans. "It significantly broadens our network of ATMs across all of our regions, giving Frost the third-largest number of ATMs in Texas."
Valero owns and operates convenience stores under the Corner Store brand across Texas, including 32 in Austin, 23 in Corpus Christi, 65 in Dallas, 161 in Houston, 147 in San Antonio, 39 in Fort Worth/Tarrant County and 17 in the Rio Grande Valley. There are also 131 Valero Corner Store locations in communities where Frost does not have financial centers, such as Bryan/College Station, Waco and Lubbock, which increases convenience for customers who are traveling or for college students attending schools in these cities, according to a release.
Earlier this year, Valero inked a deal for Cardtronics to be the exclusive ATM provider for t he retailer's U.S. convenience store portfolio, as CSNews Online previously reported.
"In a matter of months, Cardtronics has been named the exclusive provider of ATM services for Valero Corner Stores and successfully arranged for a premier bank branding partner for the entire state of Texas," said Rick Updyke, president, U.S. Business Group, Cardtronics. "By forming this ATM branding relationship with Cardtronics, Frost validates our belief that Cardtronics' ATMs can play an important role in connecting consumers with their financial institutions, creating convenient cash access in destination retail locations."
The news comes one day after reports that Bank of America has decided not to renew its ATM deal with Valero gas stations, as CSNews Online previously reported.
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