A Look at Today's Machines
As Check 21 allows check truncation at the source of deposit, the nation's automated teller machines are taking on a new function - check cashing. AmStar System, Inc., a self-service kiosk manufacturer, announced it will offer such an ATM this summer that people without bank accounts can use.
Customers must answer questions at the machine for identification verification and to meet Office of Foreign Assets Control requirements. Once approved, the machine dispenses a PIN-based debit card. Customers can either put all the funds of a check they are cashing onto the card or get cash back.
Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 5, 6/05
First published on 06/01/2005