Bank of America Introduces "ATM with Teller Assist"

This will be nice. As someone who tried Bank Of America and found their employees to be robots stuck following some ridiculous, limited rules, an automated ATM should do just fine. If you were wondering, I moved my bank account to BOA and had sold a motorcycle only to find I could not deposit the check. It was a typical bank check, made out to the buyer, to sign over to me when he saw the motorcycle and decided to buy it. BOA has a policy that they do not accept those checks. The bank it came from was only an hour away but they refused to call and certify the check, nor would they accept my willingness to leave the check for up to 90 days until it had cleared. So, I closed my account and opened one at Chase, who accepted my check as a deposit.

Anyhow, here is the press release:

Bank of America today announced the launch of its newest banking innovation, ATM with Teller Assist. This next-generation banking offering combines the technology and convenience of an ATM with the human touch of a teller.

The new technology gives customers access to a range of services during extended hours to address their daily banking needs, and provides them with convenience, control and flexibility over how, when and where they bank. Using the new ATMs, customers can speak with a Bank of America teller via real-time video and receive the same quality of personal assistance they would if they walked up to a banking center counter.

ATM with Teller Assist, which will offer bilingual support in both English and Spanish, offers customers many of the services a traditional banking center teller would, including the ability to:

Cash checks for the exact amount, including receiving change.
- Receive cash withdrawals in a variety of denominations ($1, $5, $20 and $100).
- Deposit checks with cash back (future functionality).
- Split a deposit into two or more accounts (future functionality).
- Make loan or credit card payments (future functionality).

“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,” (LOL) said Katy Knox, Retail Banking and Distribution executive at Bank of America. “This technology gives customers easy, convenient access to ATM banking services with the added option of having a personal interaction and the support of a teller available at the push of a button.”

ATMs with Teller Assist will be installed in banking center, drive-up, and remote locations and teller-assisted transactions will be accessible during extended hours: 7 a.m. – 10 p.m. local time on weekdays and 8 a.m. – 5 p.m. local time on Saturdays and Sundays, excluding holidays. Consumers also have the option to make a transaction as they would with any standard ATM 24/7.

Initially available in April at a Bank of America banking center in Boston, ATMs with Teller Assist will continue to roll out to banking centers in select U.S. markets throughout 2013.

“Many Bank of America customers appreciate the self-service option of the ATM, but may require more personal help or have a question for a teller,” said Shelley Waite, ATM channel executive at Bank of America. “The ATM with Teller Assist is the best of both worlds and is the latest way Bank of America is meeting customers’ needs in a way that works best for them.”

Banking center tellers will still be available for customers who choose to conduct their banking transactions in person.



Image: Soshitech