One of the most popular reasons for walking into a bank or credit union branch is to make a withdrawal. Of course, an ATM can fill the need for cash, but only if you want $20 bills. What if you want $100 in cash, but all in $5 denominations?
Waiting in Line to Get Cash
The process to get cash in specific denominations at a bank branch hasn’t changed in decades. You walk into the branch, proceed to the teller line, and wait. The length of the wait depends entirely on how much teller activity the branch is experiencing at that time, and as The New York Times reports, “Waiting is Torture“.
Once you finally get to the teller, withdrawing cash requires completing a withdrawal slip, then waiting as the teller accesses the cash and counts it carefully in front of you. After receiving your cash and receipt, your transaction is complete.
Get the Cash Yourself
What if you could walk up to a self-service kiosk, enter the amount of money you want, in the denominations you want, retrieve your cash, and go? The “Exact Cash” transaction on Source Technologies’ Personal Teller Machine lets you choose from ones, fives, tens, twenties and fifties so you can get your cash exactly as you want it, in a fraction of the time it takes at the teller line.
Here’s how it works:
- The customer or member approaches the Personal Teller Machine and authenticates.
- The customer selects “Exact Cash” from several transactions presented on screen.
- The customer is shown all accounts he holds at the institution and selects the account to withdraw his cash.
- The customer is presented with 5 denominations; he selects 20 $5 bills.
- The customer retrieves his cash, receipt, and he is on his way.
Self-Service Kiosk Banking
The Personal Teller Machine from Source Technologies was designed to automate 90% of the transactions traditionally handled by a teller. Customers are empowered to conduct their transactions using self-service kiosks, and staff are able to focus on more complex transactions, sales, and service. Transactions include:
- Withdraw cash
- Withdraw exact cash (customer chooses denominations)
- Deposit check
- Deposit cash
- Get cash back
- Account transfers
- Access/print statements
- Check account balances
- Stop payment
- Self-service official check (Cashier’s, Counter, Starter, Money Orders, etc)
- Bill payment
- Receive printed, emailed or text receipts
Self-service kiosks such as the Personal Teller Machine, save financial institutions time and money while creating a great customer experience. To learn more about how the Personal Teller Machine can help your branches, download the brochure, view the demo, or contact us for more information.