Press Release | Bank of America Expands Acceptance of the Discover® Card via Nationwide ATM Network |
San
Francisco, California, May 18, 1999…Bank of America
and Discover Financial Services, a business unit
of Morgan Stanley Dean Witter & Co. (NYSE:MWD),
today announced an agreement to expand acceptance
of Discover® Cards through Bank of America's network
of more than 14,000 ATMs nationwide. Bank of
America's ATM network is the largest proprietary
ATM network in the United States; accessed almost
3 million times a day.
Bank of America
began accepting the Discover Card via its ATM
network in the early 1990s. As a result of the
NationsBank and Bank of America merger in September
1998, the new Bank of America and Discover Financial
Services agreed to expand acceptance of Discover
Cards through the bank's expanded ATM network.
The Discover/Novus® Network signage is in place
at all Bank of America and former NationsBank
ATMs nationwide, making it easy for Discover®
Cardmembers to see that their cards are welcome.
NationsBank branded ATMs recently began accepting
Discover Cards.
"We are pleased to
invite Discover Cardmembers to enjoy the unprecedented
convenience of Bank of America's coast-to-coast
ATM network," said William G. Raymond, Bank
of America Senior Vice President responsible for
ATM Channel Management. "They will find Bank
of America ATMs in more airports, on more university
campuses, in more entertainment venues, and in
more retail locations than those of any other
financial institution."
"Through
this expanded relationship, our 46 million Cardmembers
will ultimately benefit by having Bank of America's
14,000 ATM network locations available to them,"
said William Simmons, Executive Vice President,
Discover Financial Services. "This agreement
marks an additional way we are making it easier
for Discover Cardmembers to get cash when and
where they need it."
Discover Financial
Services, a business unit of Morgan Stanley Dean
Witter & Co., operates the Discover Card brands
with more than 50 million Cardmembers and the
Discover Business Services network. Discover Business
Services is the largest independent credit card
network in the United States with more than 3.6
million merchant and cash access locations.
Bank
of America, with $618 billion in assets, is the
largest bank in the United States. It has full-service
operations in 22 states and the District of Columbia
and provides financial products and services to
30 million households and 2 million businesses,
as well as providing international corporate financial
services for business transactions in 190 countries.
The company's stock (ticker: BAC) is listed on
the New York, Pacific and London stock exchanges
and certain shares on the Tokyo Stock Exchange.
www.bankamerica.com
www.nationsbank.com
www.discovercard.com
www.novusnetwork.com
CONTACT:
Cathy
Edwards
Discover Financial Services, Inc.
P:
224/405-2008
Dennis Wyss
Bank of America
P:
415/622-3010
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