Moneybox Corporation has embarked on a nationwide roll out of convenience ATMs in the Netherlands.
The first Dutch machine went live on 21 November in various locations with a total of 17 due to be up and running by the end of the year. Moneybox Nederland - a company that is 51% owned by Moneybox and 49% owned by SNS bank - intends to roll out approximately 750 machines by the end of 2003.
The Moneybox concept involves consumers paying a fee to withdraw cash at locations that would not attract enough cardholders to support a traditional cash machine from high street banks or building societies. The new machines will be installed in supermarkets, hotels, larger convenience stores, petrol stations and leisure outlets. The company has already signed contracts with Shell, BP Amoco, Van der Valk Hotels and McDonalds.
Moneybox claims it already owns and manages the leading independent ATM network in the UK with more than 1600 machines. Around 4000 machines will be in place in the UK by the end of 2003, says the company.
In October this year, Ambient - the parent company of Moneybox, led a fund-raising exercise organised by Cazenove and Altium, which provided £14 million in additional funds to accelerate the roll-out of the Moneybox UK network and to support further international expansion. New investors Sand Aire Private Equity and SNS bank invested alongside existing owners Ambient and Apax in this placing.
Vincent Isaacs, chairman of Ambient, says: "The media and public reactions to the roll-out of convenience ATMs in the Netherlands has been enthusiastic and suggests that the Moneybox concept, which has been very successful in the UK, is likely to be equally relevant in other European locations. We have ambitious plans for further international expansion, with Germany high on the list of priorities."
Moneybox has also recently won a contract with the Norwich and Peterborough Building Society to take over the management of its ATM service. This will involve replacing N&P's current ATMs, maintenance and cash replenishment of the machines, and installation of a number of ATMs at new locations.