National & World News

New ATMs capable of dispensing $1

(CNN- by Blake Ellis)

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.

ChaseĀ  has rolled out between 350 and 400 such ATMs over the past 18 months, and the count is expected to double by the end of the year. Customers can type in the withdrawal amount, opt for “custom denominations” and select how many bills they want in denominations ranging from $1 to $100.

The new machines, located within branches or drive-thrus, even have the capability of dispensing coins, a service that will be piloted soon and eventually rolled out nationwide.

The move is part of Chase’s push to create what are essentially virtual tellers that don’t require additional staffing and increase efficiency for customers, said Bill Sheley, head of branch innovation. He calls the machines “next generation ATMs or new teller platforms.” Other services the ATMs provide include paying credit card bills and loading Chase prepaid cards with cash.

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2 Comments to “New ATMs capable of dispensing $1”

    Anonymous said:
    January 17, 2013 at 4:23 PM

    m & T Bank did that for years and just got rid of all there exact change atms

      Anonymous said:
      January 17, 2013 at 4:33 PM

      Didn't do too well in English, eh? Nonetheless, careful of the fees that might cost you more than the withdrawal. M&T does only $10 increments.

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