And Yet One More Thing...

Our ATM machines are already dispensing postage stamps, tickets, and coupons-and they are answering inquiries for balances, giving information on services, and informing customers which of their checks have been paid. They'll cash a check right to the penny, transfer funds, and of course, accept deposits and dispense cash.

Now, at the ATMs of at least two companies, Citicorp and Fleet Financial Group, a customer can buy and sell certain mutual funds. According to the April 23 issue of American Banker, several other financial institutions are also thinking of adding the same service.

Part of the reasoning behind offering the new service is to drive home the point to customers that mutual funds are part of the financial institution's business. Settlement of the ATM gets more interesting all the time, doesn't it?

Copyright © 1993 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 3, No. 12, 5/93