bank rates

We’ve Seen The ATMs Of The Future

woman speaking with a teller through an ATM machineBank of America is testing out a new kind of ATM that could be a boon for those of us who don’t like to take out our cash $20 at a time.

In April, the megabank started testing Teller Assist ATMs in Atlanta and Boston.

Through these new machines, customers are able to talk to an actual teller through real-time video. They have longer hours than the bank is open — 7 a.m. to 10 p.m. on weekdays and 8 a.m. to 5 p.m. on weekends.

Customers can use it like a regular ATM too.

That’s nifty, but the video link isn’t what we find most interesting there — it’s the other options that a Teller Assist ATM gives customers.

First, the ATMs don’t just give out cash in $20 chunks.

Money can be withdrawn in $1, $5, $20 and $100 increments. Customers can also cash checks for the exact amount, including change.

Bank of America also plans to have the ATMs let customers split a deposit into two or more accounts and make loan or credit card payments.

More options are a good thing, and those smaller increments will help customers who keep low balances from overdrawing their accounts. No word on how quickly the bank will introduce the Teller Assist ATMs to other cities just yet.

Bank of America isn’t the only financial institution to install this new breed of ATM.

NCR Corp., which manufactures the new machines, has added its interactive ATMs to banks in 20 states, according to The Boston Globe.

Birmingham, Ala.-based Cadence Bank is the latest bank to announce plans to install the units.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (0)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 5.00 out of 5)
No Existing Comments

Comments are closed.