MSN Money reports today on new ATMs that offer videoconferencing with tellers, lottery tickets, fingerprint authentication and even loan applications. Of the 425,000 ATMs in the U.S., many have already had upgrades, according to MSN.This week Citibank announced it will install ATMs in the U.S. that "remember" customer preferences (like language), offer on-page scrolling (as on an iPad), let you check your balance without leaving the screen you're on, and feature instructions that are more conversational; the new ATMs were piloted in New York City last year and will begin rolling out in other locales in February. Within the past few years, Chase and PNC introduced ATMs that dispense $1 and $5 bills; Citibank and Wells Fargo began letting you get an email receipt of your balance rather than a paper one; and Bank of America and a number of credit unions began experimenting with video conferencing with a live person right on the ATM.
Although most of these things can be done on a mobile phone, tablet, or computer, dispensing and depositing cash is the one thing that can't. Eighty percent of consumer spending in the U.S. is already cashless but, according to a September 2013 by MasterCard, roughly 80% of ATM transactions are to deposit and withdraw cash. What's more, newer ATMs can dispense physical goods to consumers. Already, some ATMs dispense stamps, lottery tickets and gift cards.
Read the MSN Money article here.
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