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Thursday, January 17, 2013

ATMs dispensing multiple bill denominations not new

A Jan. 17, 2013, CNNMoney report said JPMorgan Chase & Co. and PNC Bank were launching ATMs that dispense cash in any dollar amount. But a PNC spokeswoman said the news is not new, as a substantial portion of its ATMs already had that capability.

"We previously had approximately 2,000 ATMs that dispensed $1 bills going back several years," said Marcey Zwiebel, Vice President and Senior Manager, External Communications at PNC Financial Services Group, to The Green Sheet. "Other machines could dispense $10 bills and others dispensed $20 bills.

"What is new is that more than half of our 7,200 ATMs now have been upgraded with this feature, and the upgrades on the rest are expected to be complete by the end of this summer. We are always looking for ways to upgrade our ATM network with new functions that will make banking easier for our customers."

The CNNMoney report said JPMorgan rolled out 350 to 400 ATMs in the last 18 months that could dispense any dollar amount. At these ATMs, customers can reportedly select how many bills they want in denominations ranging from $1 to $100. The news outlet also reported that JPMorgan will soon pilot a program that allows ATMs to dispense coins. end of article

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