The Exchange

I am a member of a Credit Union, and I use ATM's a great deal for their convenience, but I don't like the fees, so I was delighted to hear about the exchange. So if you are a member of one the participating banks or credit unions, you will save money by using this service. Great idea.

The Exchange is a network of ATMs for about 184 small banks and credit unions across Canada — announced in June that it was growing its network by over 30 per cent. The move brings The Exchange’s number of ATMs to 3,300, second only to the Royal Bank of Canada. According to the press release, 2,607 postal code areas will now be serviced by Exchange machines, which don’t charge clients of its member banks and credit unions any surcharges.

Participating financial institutions include Alterna Bank, HSBC Bank Canada, ICICI Bank Canada and Manulife Bank, which is adding 800 of the 830 new ATMs. Those 800 machines will be branded with Manulife Bank logo and will be installed in various Mac’s, Couche-Tard and Circle K stores across the country. The rollout began this month and set to be completed in September