Pacific Business News: First Hawaiian Bank has reached an agreement to be the exclusive ATM provider at Ala Moana Center and three other shopping centers.
The $10-billion bank's five-year deal with General Growth Properties Inc. means that only First Hawaiian Bank ATMs will occupy the common areas of Hawaii's largest shopping center and three other malls, including the Victoria Ward complex.
Among the 42 million shoppers that Ala Moana Center attracts every year are tourists who are charged $1.50 for ATM transactions.
Rival banks will have to remove their ATMs from the malls within the next several months. The only exception is centerstage at Ala Moana Center, where Bank of Hawaii will be allowed to keep its ATM until its lease with General Growth expires.
"But the majority our ATMs will be from First Hawaiian," said Sharon James, regional vice president of marketing for General Growth. "We have a business partnership with them to be our preferred ATMs."
First Hawaiian did not disclose how much it paid General Growth for the ATM contract.
