Somehow We Knew It Would Happen!
A few months ago, we reported on the fact that ATM's were being installed in post offices in the state of Washington. Soon there were more post office ATM installations in other states. If you go to buy stamps, you can also make a deposit or withdraw money.
Now Seattle-First National Bank has begun to dispense postage stamps from its automated teller machines! When customers go to make a deposit or withdraw money at the ATM, they can also buy stamps!
The cardholder gets a 12-stamp sheet of 25-cent flag stamps, and the amount of the stamp sale is deducted directly from their account.
Don't think the innovations will stop with stamps.
A survey run by the American Banker newspaper indicates that an average of over 50% of ATM card holders would approve of receiving other services from their ATM.
Products "in the works" to be tested for selling through the ATM now include:
Movie and theatre tickets
Ski lift tickets
In short, anything that can be tailored to the size and thickness of currency can be marketed through the ATM.
If you happen to be the employee who services and settles the ATM, are you having dark thoughts right about now?
Copyright © 1990 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 1, No. 6, 7/90
First published on 07/01/1990