Bank One looks at returning to campus

A year after Bank One ATMs were kicked off campus by the University, four of the company's cash machines could return in the coming months -- at least one is expected to be in place in the fall.\nRepresentatives from Bank One, the University and the IU Student Association worked out some of the remaining issues during a conference call Friday. Student groups will draw up a "needs" proposal that addresses possible locations. The proposal will go to the University, then Bank One, and if terms are reached, ATMs will be installed in about 60 days, at a cost to Bank One of about $30,000 apiece.\nLocations that have been discussed include the Main Library, McNutt Quad, Ballantine Hall and the Indiana Memorial Union.\nIUSA Vice President for Administration Jeff Wuslich said he was optimistic that an agreement to bring back ATMs would be reached and said it would bring advantages to students.\n"It will make one more bank more accessible to students," Wuslich said. "It will also make things a little safer (since) students won't have to walk as far."\nBill Weinman, the Bank One executive responsible for ATMs in Bloomington, said the bank wants to provide the service to its student customers and hopes the process speeds up so students can make banking arrangements before they come to campus.\n"It only makes sense to make the kind of investment to come back on campus," he said.\nDuring IUSA elections in January, one of the questions raised by the victorious Supernova ticket was why Bank One ATMs were removed from campus. Jolene Carper, a co-director of services for IUSA, was put in charge of answering the question and researching the possibility of bringing back the ATMs.\n"Bank One wants to do what students want and are willing to do what's best for us," Carper said. "The wall we seem to be hitting is with the administration."\nIU kicked Bank One and its eight ATMs off campus late last summer, after the company did not make the University an acceptable fee-sharing offer.\nBut Weinman said the bank has never paid a fee for its IU ATMs, and for good reason: it never made a profit on them. The University asked for a profit-sharing proposal when there was none, he said, so he told them such an arrangement was not possible.\n"That wasn't exactly the answer they wanted," Weinman said. "I never heard back from them."\nIU asked Bank One to remove its ATMs by late July of last year and set in motion a plan to purchase its own cash machines.\n"There was no incentive for the institution to allow (Bank One) to stay," Patrick Smith, assistant director of purchasing, told the IDS last year. "We can't let them stay and not allow that for other banks."\nThe University put eight new ATMs on campus, charging 75 cents per transaction. With bank and University fees, transaction costs now average $2 to $3.\nIn negotiating with the University to bring back a limited number of ATMs, Weinman said he considers the University just another landlord.\n"I'm hoping they don't want to charge too much that I have to go before my boss and get my head chopped off," he said.\nWeinman added that he didn't appreciate the "misinformation" given by the University in explaining the removal of the ATMs last year.\nHe said the University made it look like the bank had left customers "high and dry," when in reality the bank was more than willing to accept a modest loss in exchange for student customers.\nAt the time, the University contended it would be unfair to let Bank One operate fee-free and not allow other banks the same opportunity.\nTo have ATMs in place by the fall, Weinman said he needs commitment now. He plans to meet with representatives of the Indiana Memorial Union today.\n"This is not rocket science," Weinam said. "It's simple business negotiation."\nQuestions or input concerning ATMs on campus can be directed to IUSA Services, iusas@indiana.edu.