Bank of Boston announces agreement with Wal-Mart to install ATMs in Connecticut and Rhode Island stores.BOSTON--(BUSINESS WIRE)--May 4, 1995--Bank of Boston Corp. announced today that it has reached an agreement with Wal-Mart Stores Inc. to install automated teller machines automated teller machine (ATM), device used by bank customers to process account transactions. Typically, a user inserts into the ATM a special plastic card that is encoded with information on a magnetic strip. (ATMs) at eleven Wal-Mart stores - six in Connecticut and five in Rhode Island Rhode Island, island, United States Rhode Island, island, 15 mi (24 km) long and 5 mi (8 km) wide, S R.I., at the entrance to Narragansett Bay. It is the largest island in the state, with steep cliffs and excellent beaches. . "We realize that banking convenience is of paramount importance to our customers," said Bank of Boston Vice Chairman Edward O'Neal. "Our goal is to deliver convenience, and one way to do that is to bring ATMs to locations where our customers shop. We're delighted to be working with Wal-Mart and to be in a position to provide banking convenience to their customers as well." Wal-Mart customers will be able to withdraw cash from conveniently located ATMs upon entering the Wal-Mart stores. Those who are Bank of Boston customers will also be able to check balances and transfer funds between accounts. This week, Bank of Boston installed ATMs in Groton, Manchester, North Windham and Norwich, Connecticut; along with Cranston, Westerly and Woonsocket, Rhode Island
Bank of Boston, which in the past was not generally regarded as a strong personal banking competitor, has significantly increased its focus over the past two years to provide better banking service to its retail customers. Recent developments - including those to better serve customers through alternative delivery channels - are beginning to pay off. "Just two years ago, some 10 percent of the bank's revenues were generated through personal banking; today, that share is up to 25 percent," said O'Neal. "Now that our personal banking franchise is a fast-growing contributor to the bank's overall revenue stream, our customers will be able to look forward to more and more outlets for banking convenience." Bank of Boston Corp. (NYSE NYSE See: New York Stock Exchange :BKB BKB Basler Kantonalbank (Switzerland) BKB Black King Bar (gaming weapon) BKB BV Kwaliteitsverklaringen Bouw (Dutch) BKB BankBoston Corporation ), with assets of $43.5 billion as of March 31, 1995, is New England's only global bank. The corporation and its subsidiaries provide a broad range of financial services to individual, corporate, institutional and governmental customers, as well as to other banks. The corporation is a member of Yankee 24, NYCE See New York Cotton Exchange. NYCE See New York Cotton Exchange (NYCE). , and PLUS SYSTEM networks. The corporation's common and preferred stocks are listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Boston stock exchanges. CONTACT: Bank of Boston Karen Schwartzman, 617/434-7594 |
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