GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
38% - Moderately

ATM Alliance


Synonyms:automated teller machine alliance
Filed Under: financial-banking
Tags: banking
 

Definition of atm alliance

atm alliance
1. An alliance of banks and/or credit unions designed to avoid or minimize surcharges for non-bank customers at ATM machines. A customer at one bank in the alliance can use surcharge-free ATMs at all the banks in the alliance. See also "Automated Teller Machine."

Related Terms and Acronyms:

  • annual fee   A bank charge for use of a credit card levied each year, which can range from $15 to $300, billed directly to the customer's monthly statement. Many credit cards come without an annual fee.
  • atm surcharge   A fee charged to someone using a bank-owned ATM because he or she does not hold an account with that bank. It is a good idea to review what your bank charges you to use another bank's ATM system to avoid paying additional surcharges to your bank.
  • automated teller machine (ATM)   A terminal activated by a magnetically encoded card that allows customers of a bank or other financial institution to conduct everyday banking tasks such as deposits, withdrawals and transfers between accounts. An interconnection of these terminals allows customers to conduct certain transactions around the nation and the world; usually subject to a surcharge fee.
      ➥  See also Automated Banking Machine (ABM).
  • bank   An institution that acts as a financial intermediary by receiving money from depositors and lenders and also lending to borrowers.
  • debit card (DC)   A payment card that is linked directly to a customer's bank account. Some cards require a personal identification number. Others require a customer's signature. A PIN-based or direct debit card removes a purchase price from a customer's chequing account almost immediately. A signature-based or deferred debit card has a Visa or MasterCard logo and removes the purchase price from a customer's bank account in two or three days.
  • electronic commerce   The purchase or sale of products and services through an electronic system such as the Internet.

Search the Glossary

Not All Brokers Offer Great Rates
The majority of brokers in Canada limit themselves to using a small network of lenders. We however, have access to dozens of lenders and the lowest mortgage rates in Canada.
Mortgage Rates
 
Mortgage Rates
Ready access to and relationships with a vast array of lenders gives our brokers the unique ability to offer you amazing mortgage rates and flexible products.
Mortgage Rates
 
Our Mortgage Loan Calculator
You will have quite a few decisions to make about your home purchase, but you can simplify the process by using our mortgage calculator. Try different rates, terms, and amortizations and see what modifying your mortgage payment schedule from monthly to biweekly or weekly payments will do to affect what your mortgage will finally cost you.
Try it Loan Calculator