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  • Aaron posted an update in the group Group logo of Experiential Innovation Experiential Innovation 6 years, 5 months ago

    It would seem that some banks are actually listening to their customers…

    Hundreds of new ATMs capable of dispensing as little as $1 are popping up across the country.

    Chase and PNC have both been launching ATMs that churn out exact change to the dollar, allowing customers to withdraw denominations as low as $1 and $5.

    http://money.cnn.com/2013/01/17/pf/atm-bills/index.html?iid=HP_LN

    • Remember this from my past in one of the Russian bank (owned by the English): when the Retail head was presented with some ATM problem, his immediate reaction was to cry “Why are we using 50 ruble ($2) banknotes in the ATMs? Are there people out there that use those?” It took some time to explain him that the salaries around him are incomparable to that of a board member.

    • I love that idea and happy that Chase is one of the banks doing it. Will need to go check if my closest ATM can give me a $1 šŸ™‚ I think that another innovation banks should do is to build in vending machines into those ATMs. That way you can get your small cash and get a candy, drink or whatever else right there. What do you think?

    • To think that they didn’t do this sooner. But why would you need to withdraw such an odd amount of money? I get that fives and tens are better than all 20s, but if you just need a few bucks wouldn’t using a debit card be better? Any thoughts?