Jersey City-based digital banking platform Bluevine on Thursday announced a new partnership with Allpoint to provide more convenient ATM cash deposit access to its customers through 1,500 Allpoint+ enabled ATMs.
Combining the new Allpoint partnership with participating Green Dot retailers, small business customers now have access to a network of over 91,500 secure ATM and retail locations nationwide for cash deposit capabilities without the need to ever step into a bank branch. Together with more than 37,000 in-network MoneyPass ATMs for fee-free cash withdrawals, Bluevine customers now benefit from access to over 128,500 locations for their cash management needs, approximately three times more ATM locations than traditional banks provide.
Since 2019, the number of ATM locations across the U.S. has been in steady decline, according to research firm Euromonitor International, as payment preferences have shifted toward digital and traditional banks continue to reduce the size of their costly branch networks. For small businesses, a market segment largely underserved by traditional banks, owners still need reliable, secure access to deposit cash as an essential part of their financial management operations.
“This new Allpoint partnership and overall expansion of our cash deposit and withdrawal network reaffirms our commitment to bringing better convenience and improved service to our customers, nationwide — saving them both time and money,” Eyal Lifshitz, co-founder and CEO of Bluevine, said. “While the preference for digital payments continues to rise in all aspects of our lives, cash management remains essential for many small businesses. So, while the ATM networks of big banks continue their steady decline, Bluevine found it necessary to fill the gap by expanding our branchless banking capabilities through trusted partners like Allpoint, Green Dot and MoneyPass. Essentially, this further advances our goal to allow Bluevine customers to bank wherever, whenever and however they do business.”
Bluevine customers can now find in-network ATM locations through the mobile app on the cash deposit page. Displayed with prominent signage, Allpoint+ ATMs are available at select CVS, Walgreens and other retail stores in major metropolitan areas across the country. Customers can also choose to deposit cash at over 90,000 Green Dot retail locations, including participating Walgreens, Walmart, 7-Eleven, CVS, Kroger, Safeway, Rite Aid and Dollar General stores.
