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#170404 - 03/17/04 04:11 PM closing remote atms
Anonymous
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We would like to close a few of our remote atms. Is anyone familiar with how I can begin this process as far as notification goes to the "powers that be"...etc??? Any information would be helpful. Thanks.

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#170405 - 03/17/04 04:50 PM Re: closing remote atms
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
The process may vary depending on whether yours is a state or federal charter.

If it's a federal charter the ATM isn't considered a branch and I think your only concern will be termination of leases and coordination with the vendor and networks.

If you are a state bank, you should take a look at this Web page maintained by the Division of Banks. Toward the bottom is information about closing an ATM.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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#170406 - 03/17/04 05:07 PM Re: closing remote atms
Anonymous
Unregistered

We are a Savings bank.

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#170407 - 03/18/04 03:02 AM Re: closing remote atms
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Use the link to the Division of Banks' Web site. It will tell you exactly how to go about notifying the Division of the plan to close the machines.
_________________________
John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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#170408 - 03/18/04 04:26 PM Re: closing remote atms
Anonymous
Unregistered

John,

Thank you so much. Do we have to notify the FDIC or anyone else that you know of?

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#170409 - 03/18/04 07:12 PM Re: closing remote atms
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
The only time we ever notified the FDIC about one of our ATMs (we were a state-chartered bank until 1999) was when it included a night depository on the premises. Otherwise, there is no FDIC notice requirement of which I am aware.

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