Imaging Could Increase ATM Deposit Popularity
More than half of U.S. consumers with bank accounts would be more likely to use automated teller machines to make deposits if their banks offered images of checks at the machines as proof of deposit, according to a survey commissioned by NCR Corporation.
Deposit imaging is considered by many to be a stepping stone to a system whereby checks could be truncated at the point of deposit or purchase. However, consumers must have confidence in ATM deposits to make the leap to a new system. The Harris InteractiveŽ survey, which was commissioned by NCR, found that lack of consumer confidence was the leading reason consumers don't deposit their checks into ATMs - 21 percent said they thought the machine might not get a check or cash deposit right. Another 11 percent said that looking for an envelope and filling it out was too much of a hassle.
NCR, which makes machines that offer "no envelope" deposits, says its own conversations with banks support the low-confidence finding. The company pointed to a Dove Consulting study that found that only 10 out of 100 banking customers now use an ATM to make deposits.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 13, No. 11, 1/04
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