Know Thy ATM

I find that many people do not realise the full potential of the ATM machine. To many, it merely spits out cash. Coupled with the cash deposit machine, a crude funds transfer is possible. Therein lies the problem. Banks are trying to decrease the volume of customers at branches by investing in more and more of such automated machines-- hence creating the so-called "self-service branch". But customers misuse them due to lack of information. I see a lot of people withdrawing money and subsequently depositing them, without realising that such intrabank transfers can be performed online, via the ATM. The result is the same, the money gets transferred (but it is even safer as no physical notes are involved), but what they fail to realise is that when the money in the ATM runs out, it is rendered "out of service" (even non-monetary transactions are disallowed). And when the cash deposit machine is full of cash, it also ends up "out of service". So please do the right thing and keep the machines up and running for genuine folk really want to WITHDRAW money or DEPOSIT cash! 

For more information, please click here.

--
Regards,
William

Comments

.:: Ant ::. said…
You could only do so much to educate the public. Some know, but just wanna see the physical transfer of $$$ just to satisfy their insecurities. You may call them weird. Different strokes for different folks.

+Ant+
V said…
such an educational post!
famil said…
some people just dont know how to use third party transfer function
Jaded Jeremy said…
Actually, I wish banks would designate at least one machine purely for withdrawing money. I recall only a few locations in Singapore has such machine.

The problem with enabling ATM machines to multi-task is that people inevitably take so much more time to perform other more complicated tasks e.g. pay bills, apply for shares, top up phone cards. Withdraw cash takes less than 50 secs (it was demonstrated in an ad many years ago...could be faster now with the function "My ATM"). They take so much more time that I thought they are flirting with the machine ;-)
JL said…
Some people take issue with the bank taking commissions from funds transfers (even granted, it is very little), hence the problem. :\
These are the techno phobic generation. Even my friends who are in 30s and 40s do not trust machine and Internet banking.

They need to hold the real receipts or printed on their utility bills.

Call them old fashion. But they said, "You never know when the machine will be wrong one day!"
savante said…
Can you transfer funds into loan payment accounts if it's in a different bank?
William said…
@Ant:
Better just hand the money to them personally!

@QueenB:
Hehe. A public service message.

@Famil:
It is my mission to educate them!

@JJ:
Maybe they were humping the ATM. :P

@JL:
But intrabank transfers are free!

@Jewel:
Anything can go wrong! Even more so the manual way.

@Savante:
I don't think third party loan payments are available.

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