New ATMs offer more complex transactions

Nov. 23, 2012 at 5:24 PM

CHICAGO, Nov. 23 (UPI) -- A new generation of automatic teller machines capable of handling more complex transactions is proving popular with bank customers, experts say.

Some banks are installing ATMs that can handle transactions normally requiring a teller, such as cashing a check to the penny or withdrawing as much as $1,000 in any denominations, even as small as $1, the Chicago Tribune reported Friday.

"Our goal is to drive more transactions from the teller window to the computer screen or the ATM," William Demchak, PNC Financial Services Group Inc. president, said at a bank conference Nov. 13.

The degree to which PNC Bank can encourage customers to use such channels "represents significant potential cost reductions," he said.

Chase, which has installed its first "self-service banking kiosks" in Chicago, said customers appreciate the alternative to waiting in teller lines.

Most branches will eventually get the upgraded ATMs, which are similar to self-service supermarket checkouts or airline check-ins, Chase said.

Related UPI Stories
Latest Headlines
Trending Stories
House Majority Leader Kevin McCarthy drops bid for speaker
WikiLeaks offering $50K for video of Afghan hospital bombing
Murdoch sorry for implying Obama's not a 'real black president'
Reid sues exercise companies over eye injury
Lumber Liquidators to pay $10M in DOJ settlement