ATMs are a quick and easy way for customers to take out cash, check their balance and deposit checks without waiting in line to speak to a teller. But there are times when customers would prefer a little human interaction.
Now Bank of America (BAC) customers in Boston can have both. The bank is installing Teller Assist, a video chat service, in its ATMs this month. BofA expects to expand the services to other parts of the country throughout the year.
BofA shares rose 1% on the stock market today.
The new ATMs will have video chat features that can be used from 7 a.m. to 10 p.m. Monday through Friday, and 8 a.m. to 5 p.m. during the weekends.
"We know that customers want to bank on their schedule — not ours — so we are constantly looking at how to deliver more convenient banking options to them," said Katy Knox, retail banking and distribution executive in a statement.
The upgraded machines will offer support in English and Spanish and cash checks for an exact amount. The ATMs will be able to withdrawal cash in a variety of denominations: $1, $5, $20 and $100. Future functions include splitting a deposit into two or more accounts and making loan or credit card payments.
The Banks-Money Center is ranked No. 137 out of the 197 industry groups IBD tracks.
source: news.investors.com
