This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Bank Teller Trapped Inside ATM, Lives to Tell Tale

Stocks in this article: NCR

Dollar Bank is very excited about putting the person inside the machine. "The PTMs will improve our customer service by permitting Dollar Bank customers the convenience of extended hours of service six days a week, while providing personal teller services through a machine," said Robert Oeler, president and CEO of Dollar Bank in a release. "Customers will have the confidence of knowing they are speaking with a real Dollar Bank employee when they make a deposit or request a bank service through the PTM. That is an exciting new service for our industry."

The bank has already assigned a customer service representative to stand by the machine and offer help in using the PTM (the same sort of logic that applies to having a live grocery store checkout person stand next to the self-checkout machine and serve as your checkout person when you can't figure out why the self-checkout bot keeps telling you to place an item on the scanner or remove the bag.)

Nevertheless, the bank hopes the machine will reduce customer waiting time and provide consumers with more options using the real-time PTM teller option.

Consumers aren't exactly clamoring for changes to ATM machines. According to J.D. Power's 2012 Retail Banking Satisfaction study , banking consumers are pretty happy with current ATM technology. The study ranks consumer attitudes about banking services on a 1,000-point scale, and satisfaction with ATMs hit a level of 815 this year, compared to 795 in 2011.

"Satisfaction with ATMs is driven by the increased reliability, user friendliness and functionality found in the newer generation of ATMs in which many banks have invested the past few years," said Michael Beird, director of banking services at J.D. Power in the study release. "One of the most pertinent metrics is the percentage of customers who use ATMs to make deposits has more than doubled over the past four years, from 19 percent in 2008 to 40 percent in 2012."

Dollar Bank is taking the Steve Jobs approach, regardless of current ATM-contentment: don't ask consumers what they want because they don't know what they want. Or in other words, build it and they will come (and chat with the PTM.)

Any banking service that gets customers in out and out more quickly, with the high level of customer experience they expect, can only help with customer satisfaction, so expect your bank branch ATM to become more "human" sometime soon.

More on banking:

Does it make sense to use the closest ATM ?

Should you opt for overdraft fee protection ?

By Brian O'Connell

Follow TheStreet on Twitter and become a fan on Facebook.

2 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs