Jump to content

NYCE: Difference between revisions

Edit links
From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
Added {{unreferenced}} tag to article (TW)
remove stub tag
(12 intermediate revisions by 9 users not shown)
Line 1: Line 1:
{{about|the interbank network|the cotton exchange|New York Cotton Exchange}}
{{about|the interbank network|the cotton exchange|New York Cotton Exchange}}
{{unreferenced|date=November 2016}}
{{Infobox Interbank Network
{{Infobox Interbank Network
| name = NYCE
| name = NYCE
| logo = [[Image:Nyce logo.jpg]]
| logo = NYCE Corporation logo.svg
| area = [[United States]]
| area = [[United States]]
| members = 2,358
| members = 2,358
| founded = 1961
| founded = {{Start date and age|1985}}
| atm = 301,500
| atm = 301,500
| owner = [[Fidelity National Information Services|FIS]]
| owner = [[Fidelity National Information Services|FIS]]
| website = {{URL|https://www.nyce.net/}}
}}
}}

The '''New York Currency Exchange''' (NYCE) is an [[interbank network]] connecting the [[Automatic teller machine|ATM]]s of various financial institutions in the [[United States]] and [[Canada]]. NYCE also serves as an [[EFTPOS]] network for NYCE-linked ATM cards.
The '''New York Currency Exchange''' ('''NYCE''') is an [[interbank network]] connecting the [[Automatic teller machine|ATMs]] of various financial institutions in the [[United States]] and [[Canada]]. NYCE also serves as an [[EFTPOS]] network for NYCE-linked ATM cards.


NYCE is based in [[Secaucus, New Jersey]]. Rivals of the network include [[STAR (interbank network)|STAR]] and [[Discover Card]]'s [[Pulse (interbank network)|Pulse]]. It is owned by [[Fidelity National Information Services]].
NYCE is based in [[Secaucus, New Jersey]]. Rivals of the network include [[STAR (interbank network)|STAR]] and [[Discover Card]]'s [[Pulse (interbank network)|Pulse]]. It is owned by [[Fidelity National Information Services]].


==Origins==
==Origins==
"NYCE" originally started as a local ATM network of banks located in the [[New York Metropolitan area]], debuting in March 1985 with a network of 800 ATMs at six banks, including [[Bank of New York]], [[Barclays Bank]] [[Chemical Bank]], [[Manufacturers Hanover Trust Company]] and [[Marine Midland Bank]].<ref>Stevenson, Richard W. [https://www.nytimes.com/1985/03/07/business/big-new-york-banks-link-teller-machines.html "Big New York Banks Link Teller Machines"], ''[[The New York Times]]'', March 7, 1985. Accessed February 4, 2024. "Known as the New York Cash Exchange, or N.Y.C.E., the system initially permits customers of five New York banks - Chemical Bank, the Manufacturers Hanover Trust Company, Marine Midland Bank, The Bank of New York and Barclays Bank of New York - as well as the Union Trust Company, based in Stamford, Conn., to make cash withdrawals and balance inquiries at any of the group's automated teller machines.... The network's eight founding banks operate more than 800 teller machines at 650 locations in New York and Connecticut, and their customers hold 2.5 million automated teller cards."</ref> It was one of the first networks of its kind, originating shortly after the invention of the ATM (automatic teller machine). Membership was open to all banks, credit unions and savings banks, and as use of ATMs grew, the network spread beyond its original New York Metro area; by the early 1990s, NYCE was the largest regional ATM network in the United States, with a network of 9,600 ATMs in 24 state available to its 17&nbsp;million customers .<ref>Trigaux, Robert. [https://www.tampabay.com/archive/1991/09/11/local-atm-system-linked-to-northeast/ "Local ATM system linked to Northeast"], ''[[Tampa Bay Times]]'', September 11, 1991. Accessed February 4, 2024. "Under an agreement announced Tuesday, the 15-million customers of the Honor system will have access to more than 9,600 automated teller machines in the New York Cash Exchange (NYCE) system, which operates in 24 states, the District of Columbia and Puerto Rico. In turn, the 17-million customers in the NYCE network will have access to 7,800 Honor ATMs in the Southeast.... NYCE is the nation's largest regional ATM network."</ref>[[File:NYCE Chairman Ed Coakley.jpg|thumb|NYCE Chairman Ed Coakley branding the first ATM to go live on the network]]
"NYCE" originally started as a local ATM network of banks located in the [[New York Metropolitan area|New York metro]] area. It was one of the first networks of its kind, originating shortly after the invention of the ATM (Automatic Teller Machine). Membership was open to all banks, credit unions and savings banks, and as use of ATM's grew the network spread beyond its original New York Metro area; by the early 90's, NYCE was the largest regional ATM network in the US.


The public brand name, "NYCE", is an acronym for "New York Cash Exchange"; the original corporate name was the New York Switch Corporation.
The public brand name, "NYCE", is an acronym for "New York Cash Exchange"; the original corporate name was the New York Switch Corporation.


The banks which founded and originally owned the network were: [[National Westminster Bank]] USA, [[Chase (bank)|Chase Manhattan]], [[Manufacturers Hanover]], [[Chemical Bank]], [[Barclays Bank]], [[Marine Midland Bank]] and the [[Bank of New York]]; in later years both BayBank and [[Fleet Bank]] from Boston became owners as well. The original Chairman of the Board was Edward Coakley of National Westminster Bank; some of the other members of the Board of Directors were Donald L. Boudreau and Ron Braco of Chase Manhattan, Gary Roboff and Michael Hegarty of Chemical Bank, [[Stu Segal]] and [[Roger Goldman]] of National Westminster, Robert Muth of Marine Midland, Bob Shay and Lindsey Lawrence of BayBank, and Dennis Lynch of Fleet.
The banks which founded and originally owned the network were: [[National Westminster Bank USA]], [[Chase (bank)|Chase Manhattan]], [[Manufacturers Hanover]], [[Chemical Bank]], [[Barclays Bank]], [[Marine Midland Bank]] and the [[Bank of New York]]; in later years both [[BayBank]] and [[Fleet Bank]] from Boston became owners as well. The original Chairman of the Board was Edward Coakley of National Westminster Bank; some of the other members of the Board of Directors were Donald L. Boudreau and Ron Braco of Chase Manhattan, Gary Roboff and Michael Hegarty of Chemical Bank, Stu Segal and Roger Goldman of National Westminster, Robert Muth of Marine Midland, Bob Shay and Lindsey Lawrence of BayBank, and Dennis Lynch of Fleet.


==Current status==
==Current status==
Line 26: Line 26:


==See also==
==See also==
*[[ATM usage fees]]
* [[ATM usage fees]]

==References==
{{Reflist}}


==External links==
==External links==
* [http://www.nyce.net NYCE ATM network]
* [https://www.nyce.net/ NYCE ATM network]


{{Interbank networks}}
{{Interbank networks}}


{{DEFAULTSORT:Nyce}}
{{DEFAULTSORT:Nyce}}
[[Category:FIS]]
[[Category:1985 establishments in New York (state)]]
[[Category:FIS (company)]]
[[Category:Interbank networks]]
[[Category:Interbank networks]]


{{bank-stub}}

Revision as of 00:50, 5 February 2024

This article is about the interbank network. For the cotton exchange, see New York Cotton Exchange.
NYCE
Operating areaUnited States
Members2,358
ATMs301,500
OwnerFIS
Websitewww.nyce.net

The New York Currency Exchange (NYCE) is an interbank network connecting the ATMs of various financial institutions in the United States and Canada. NYCE also serves as an EFTPOS network for NYCE-linked ATM cards.

NYCE is based in Secaucus, New Jersey. Rivals of the network include STAR and Discover Card's Pulse. It is owned by Fidelity National Information Services.

Origins

"NYCE" originally started as a local ATM network of banks located in the New York Metropolitan area, debuting in March 1985 with a network of 800 ATMs at six banks, including Bank of New York, Barclays Bank Chemical Bank, Manufacturers Hanover Trust Company and Marine Midland Bank.[1] It was one of the first networks of its kind, originating shortly after the invention of the ATM (automatic teller machine). Membership was open to all banks, credit unions and savings banks, and as use of ATMs grew, the network spread beyond its original New York Metro area; by the early 1990s, NYCE was the largest regional ATM network in the United States, with a network of 9,600 ATMs in 24 state available to its 17 million customers .[2]

NYCE Chairman Ed Coakley branding the first ATM to go live on the network

The public brand name, "NYCE", is an acronym for "New York Cash Exchange"; the original corporate name was the New York Switch Corporation.

The banks which founded and originally owned the network were: National Westminster Bank USA, Chase Manhattan, Manufacturers Hanover, Chemical Bank, Barclays Bank, Marine Midland Bank and the Bank of New York; in later years both BayBank and Fleet Bank from Boston became owners as well. The original Chairman of the Board was Edward Coakley of National Westminster Bank; some of the other members of the Board of Directors were Donald L. Boudreau and Ron Braco of Chase Manhattan, Gary Roboff and Michael Hegarty of Chemical Bank, Stu Segal and Roger Goldman of National Westminster, Robert Muth of Marine Midland, Bob Shay and Lindsey Lawrence of BayBank, and Dennis Lynch of Fleet.

Current status

At present, NYCE is the primary network of 301,500 ATMs with a customer base of 89 million users. NYCE is no longer owned by New York and Boston banks; it was wholly owned by Metavante Corporation, formerly a subsidiary of M&I Bank and based in the Milwaukee suburb of Brown Deer, Wisconsin. On October 1, 2009, Metavante officially became a subsidiary of Fidelity National Information Services.

See also

References

  1. ^ Stevenson, Richard W. "Big New York Banks Link Teller Machines", The New York Times, March 7, 1985. Accessed February 4, 2024. "Known as the New York Cash Exchange, or N.Y.C.E., the system initially permits customers of five New York banks - Chemical Bank, the Manufacturers Hanover Trust Company, Marine Midland Bank, The Bank of New York and Barclays Bank of New York - as well as the Union Trust Company, based in Stamford, Conn., to make cash withdrawals and balance inquiries at any of the group's automated teller machines.... The network's eight founding banks operate more than 800 teller machines at 650 locations in New York and Connecticut, and their customers hold 2.5 million automated teller cards."
  2. ^ Trigaux, Robert. "Local ATM system linked to Northeast", Tampa Bay Times, September 11, 1991. Accessed February 4, 2024. "Under an agreement announced Tuesday, the 15-million customers of the Honor system will have access to more than 9,600 automated teller machines in the New York Cash Exchange (NYCE) system, which operates in 24 states, the District of Columbia and Puerto Rico. In turn, the 17-million customers in the NYCE network will have access to 7,800 Honor ATMs in the Southeast.... NYCE is the nation's largest regional ATM network."
Retrieved from "https://en.wikipedia.org/w/index.php?title=NYCE&oldid=1203495886"