“Our ATM is their bank.” The people who own the ATMs found in gas stations and bodegas say it’s getting harder to find a bank willing to do business with them. ATM owners say the underbanked will pay the price.
Dozens of banks had rejected Ann Marie and Dan Ellis when they opened Bank of America Corp. checking accounts last February to fund their southern Arizona network of automated teller machines.
In April, the bank closed the accounts. Their money—used to fund around $450,000 in weekly customer withdrawals—was frozen. Branch managers told them to call the bank’s risk and fraud department.
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