Bank of America Starts National Rollout Of New ATMs
Bank of America has announced that its customers will be able to put checks and cash into ATMs without an envelope or deposit slip when they use new ATMs being deployed in a national rollout starting this week in the Washington, D.C., and Atlanta areas.
Bank of America, which has the largest bank-owned ATM network in the country and the most ATMs that accept deposits, will be installing the new ATMs later this year in the New York City, Phoenix and San Diego areas as part of the 1,500-machine national rollout. The bank began a pilot program in 2003 in Charlotte, and now has a total of more than 60 of the new ATMs in North Carolina and South Carolina.
Later this year, customers using the new machines will be able to get immediate credit for cash deposits and same-day credit for deposits until 8 p.m. in the state the account is located.
Some of the advantages of deposit image ATMs:
"When customers see an image of their checks on their receipts, they're more confident that the deposit has been accepted and they have assurance in hand," said Kirk Lindsey, Bank of America's ATM executive. "When customers are that comfortable, they're more secure about making deposits at an ATM. Making deposits has never been easier."
- Receipts include an image of each check and a verification of the amount of cash
- No envelopes or deposit slips. This is more convenient for customers and helps the environment by reducing the amount of paper used.
- No math - the ATM adds up the deposit
Bank of America has a total of 16,700 ATMs nationwide, and more than 12,000 of them accept deposits.
In the past year, the number of deposits at the new ATMs increased by 50 percent on average every day. Customers said they were more likely to make future deposits at the ATMs rather than with tellers.
B of A's new ATM's are pretty stupid for my use. I deposited 15 checks the other day and it took a very long time, caused a big line and then I got an unwanted long receipt with a photocopy of each check. How is that saving paper?
There needs to be a way to do bulk checks. I sure don't want to go inside and stand in the teller line. There has to be a better way. I think its a big scam that is mostly for their benefit, as in less employees in check processing. Cool technology, but what a waste of my time and the people all standing behind me.
Word,
kbe
Posted by: Karl | March 01, 2008 at 01:33 PM
the new atms and bank of america suck, suck, suck! I deposite a large check (that was going to buy my kids Christmas-next week!)it took the check and then the screen went black and said temporarily out of service-and did not post it to my account. made the mistake of calling the local branch. totally rude and useless! I better get that money soon. they really really suck!
Posted by: faye hensley | December 26, 2008 at 11:10 AM
I walked into bank of America the other day and felt almost an intrusion of my privacy when the nosy bank lady came right over and said “what brings you into the bank today?!” in her most corny customer service sounding voice. I told her I am making a deposit. She must have been able to tell my irritation with her question because she then said, “I only ask because we are showing people our new ATM’S”. I was a little less irritated once I knew she had a purpose and they had something new. I’m like a kid that way. So I went out there and she showed me the new ATM and the way it scans the check, no need for an envelope, and it even prints out a copy of the check on the receipt. Pretty neat. The next week I was dropping by before work to make a cash deposit, and the experience wasn’t quite as convenient. It took me 35 minutes to deposit 140.00. It spit my bills out at least 5 times, saying it could not accept them. Something like a vending machine. I wrestled with it to then get my bills back out as the trap door kept shutting. At the same time, it’s asking do you need more time for this transaction? Obviously I need more time, as you’re not working! So finally it accepts my bills and the options are “add cash”, which I’m thinking means “add this cash to acct”… so of course I say yes, it opens and expects more cash, in which I hit cancel, so once again- it spits the original bills back out. And I’m back at square one with trying to get it to accept the original bills! It was a total disaster. The moral of the story is big deal that we can do it without an envelope, at least back then it took one quick transaction and there were no problems with the bills. I’m highly irritated they probably spent millions of dollars on something that worked completely fine already. If it ain’t broke, don’t fix it. And if they are so high-tech, maybe they should start having the ability to write tardy notes for your boss when you’re late because it took an hour to make a deposit!
If it ain’t broke, don’t fix it!
Posted by: J Med | November 09, 2009 at 12:31 PM