Mac’s Convenience new ATM deal
It may not be new news anymore, but Mac’s Convenience new ATM deal is a significant piece of news that we want to make sure you are aware of, and how it affects you.
Mac’s Convenience stores (including Couche-Tard and Circle K) have ATMs. In the past, these ATMs used to be CIBC owned machines, and part of CIBC’s network. This meant that anyone who had a CIBC account could use one of these machines, just like they were actual ABMs at the bank: for most CIBC customers, this meant no surcharges!
At the beginning of July an announcement was made that Manulife Bank (Manulife Financial Corp.’s banking subsidiary) would be getting the contract with Mac’s. Approximately 830 machines in these convenience stores are now operated by Manulife Bank.
If you are a CIBC customer the number of surcharge-free machines you have access to has now dropped. You now pay surcharges upwards of $3.00 like the rest of us. (See our previous post on how surcharges work against you).
Rather than paying those high surcharges, use one of our machines, where surcharges average only $1.75, and you can save yourself some money!