The former location of the Wells Fargo branch, where there are now only ATMs.

As fewer travelers use ATMs, Hartsfield-Jackson reduces bank’s rent

Amid declining use of ATMs, Hartsfield-Jackson International Airport is seeking Atlanta City Council approval to again reduce rent collected from its banking tenant Wells Fargo.

The contract with Wells Fargo originally required minimum annual rent of $1.7 million. 

But when Hartsfield-Jackson tried to strike a new contract for banking and foreign exchange services, no banks were interested and the airport extended Wells Fargo’s contract for six months. 

Meanwhile, Wells Fargo expressed hardship about the rent requirement, prompting a reduction last year to $500,000 when the airport allowed the bank to close its branch in the domestic terminal while still operating ATMs.

There are now 16 ATMs in the airport, including two each on Concourses A, B, C and E, one each on Concourses T and D, and six in the terminals and baggage claim.

Now, the airport is asking the city council to approve a rent reduction to a $120,000 minimum annual guarantee.

The move is “due to continued decline in ATM revenues and the need to continue offering ATM services to the passengers and employees” of the airport, according to documents submitted to city council.

The airport is also seeking another six-month extension of Wells Fargo’s contract while it works on striking a new bank deal. 

The airport rebid the contract with a focus on banking and ATMs last year, and only one company threw its hat into the ring: SunTrust Bank.

Hartsfield-Jackson general manager Roosevelt Council said the contracting process is in progress. The airport expects a new agreement to start within six months.

About the Author

Kelly Yamanouchi
Kelly Yamanouchi
Business reporter Kelly Yamanouchi covers airlines and the airport. She started at the AJC in 2008, joining the paper from the Denver Post. 

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