simple random sample (ATM deposit preference)

I work for a financial institution, and we're wondering what people prefer when depositing cash and checks at an ATM.

- Single slot for mixed cash and checks
- Two seperate slots; one for cash, one for checks
- I'd rather not make a deposit at ATMs

Thanks guys.

People put cash...into...ATMs?

In any case, one slot seems easier to me.

I prefer two slots simply because there are times (usually once a month) when the main slot is out of service due to maintenance. Having the second slot available allows continued use of the ATM.

And to answer MalFet, yes you can make deposits in both slots...

Ace_Club said:

I prefer two slots simply because there are times (usually once a month) when the main slot is out of service due to maintenance. Having the second slot available allows continued use of the ATM.

And to answer MalFet, yes you can make deposits in both slots...

Click to expand...

Bam!!

I prefer direct deposit for my paychecks. My bank has an iPhone app that allows me to take a photo of the front and back of an endorsed check and have it almost instantly deposited with no physical interaction. I can't tell you the last time I actually went to the bank to deposit anything, and I've NEVER used an ATM deposit drop.

In short, I need a fourth option on the poll: None of the above.

Wow - so far a slight majority prefer to go to a teller???

It's 2011, and people still feel like they need to go to a teller to deposit a check?

It never ceases to amaze me, the crowds of people that wait in line at the bank on a Saturday morning, or whatever night the bank happens to be open late, for the exact same things that they can literally drive up to the ATM and be done with inside of 2 minutes... I guess I just don't get it - what magic do the tellers do that makes it worthwhile to wait in line like that when the quick alternative of the ATM is right there?

I can't say that I've ever deposited cash in an ATM, but I don't trust that it will find its way into my account. In much the same way that I won't mail cash to anyone. So for cash, I will always go to a teller to complete the transaction.

The nice thing about my CU is that they are NEVER busy. The most customers I've ever seen inside at any given time is a total of three including me. My paycheck is direct deposited, but for other checks, I'll go inside if it's open, but I only ever really cash maybe a half dozen checks a year. I also go inside when my kids deposit a portion of their allowance to their savings account. I could easily transfer the money from my account to theirs online, but I want them to personally experience their account growing a few dollars at a time - hopefully to instill the idea that they should always save money. Something I had to teach myself.

stratslinger said:

I guess I just don't get it - what magic do the tellers do that makes it worthwhile to wait in line like that when the quick alternative of the ATM is right there?

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Human interaction?

Whutever said:

Human interaction?

Click to expand...

... is overrated.

stratslinger said:

Wow - so far a slight majority prefer to go to a teller???

It's 2011, and people still feel like they need to go to a teller to deposit a check?

Click to expand...

Yup. Give me the teller anytime. 'Course the tellers at my bank are cute! Too bad they only let me deposit money!

jmendez29 said:

I can't say that I've ever deposited cash in an ATM, but I don't trust that it will find its way into my account. In much the same way that I won't mail cash to anyone. So for cash, I will always go to a teller to complete the transaction.

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I guess that's the part I don't get... Why trust an ATM with a check, but not cash? (At least, I assume that's what you mean here!) Either way, it's the same box you're putting something into that has cash value, and the same electronic system that's going to credit your account.

As to the human interaction - I'm all for that, most of the time. But when it comes to banking, I prefer quick and convenient - and with very few exceptions that's exactly what an ATM provides.

The ATM doesn't give me treats for my dog

Thanks for the responses guys. We've been running depository ATMs (not envelopes) for several years now, and they're becoming pretty prevalent, but it seems like there's still a pretty big stigma around them.

It's interesting that people won't put cash into an ATM, but they'll put cash into a vending machine, car wash, or other kiosks that require you to purchase something.

We're actually looking to create tellerless branches with ATMs doing all of the basic transactions, and our biggest obstacle for success seems to be what y'all are confirming - "It's eerie to put money into an ATM".

I've never had a problem putting cash or checks in an ATM. I've also never seen a two-slot ATM. What's the benefit in having (other than redundancy, but if the whole ATM is down* then its really inconsequential). I only go to the teller when we're visiting my girlfriend's family, because her mom is a teller. And even then its not because I have money to deposit/withdraw (I don't actually have an account there) its because she gives my dog treats

*I've never seen the slot itself fail, just the whole ATM.

stratslinger said:

Wow - so far a slight majority prefer to go to a teller???

It's 2011, and people still feel like they need to go to a teller to deposit a check?

It never ceases to amaze me, the crowds of people that wait in line at the bank on a Saturday morning, or whatever night the bank happens to be open late, for the exact same things that they can literally drive up to the ATM and be done with inside of 2 minutes... I guess I just don't get it - what magic do the tellers do that makes it worthwhile to wait in line like that when the quick alternative of the ATM is right there?

Click to expand...

BurntOrngeLonghorn84 said:

Thanks for the responses guys. We've been running depository ATMs (not envelopes) for several years now, and they're becoming pretty prevalent, but it seems like there's still a pretty big stigma around them.

It's interesting that people won't put cash into an ATM, but they'll put cash into a vending machine, car wash, or other kiosks that require you to purchase something.

We're actually looking to create tellerless branches with ATMs doing all of the basic transactions, and our biggest obstacle for success seems to be what y'all are confirming - "It's eerie to put money into an ATM".

Click to expand...

I think a lot of it is generational. I have direct deposit for my paychecks, auto withdrawals into separate accounts and bill paying, and I use an ATM whenever possible. I wish my bank had the phone apps for depositing checks. I've seen the commercials, but we don't have it at my credit union. I go inside when it's time to talk about a loan, get a new card (yesterday) or dispute something (only done it once). The less of my lunch break that I can spend banking and the more I can spend eating and dicking off, the better.

BurntOrngeLonghorn84 said:

Thanks for the responses guys. We've been running depository ATMs (not envelopes) for several years now, and they're becoming pretty prevalent, but it seems like there's still a pretty big stigma around them.

It's interesting that people won't put cash into an ATM, but they'll put cash into a vending machine, car wash, or other kiosks that require you to purchase something.

We're actually looking to create tellerless branches with ATMs doing all of the basic transactions, and our biggest obstacle for success seems to be what y'all are confirming - "It's eerie to put money into an ATM".

Click to expand...

Just to clarify my previous post: I have seen ATMs like you talk about, and I wouldn't hesitate to use one out of a fear that they'd lose my money. I just can't really imagine a situation in which I'd need to because I rarely handle cash any more. I think the last time I deposited dollar bills into a bank was over three years ago when I sold a piece of equipment for more money than I felt comfortable having around my house. Even my cleaning lady wants to be paid via PayPal.

I've got no problem putting cash into an ATM. No problem with a check either.

thing is - (for your survey) - I get paid by direct deposit. I rarely have a large sum of cash from any source that needs to be DEPOSITED. I rarely receive a check - (small occasional rebates?) - that need to be deposited.
So - my ATM serves me just fine - giving me cash when I need it.
It has deposit slots. It takes a scan of the check and prints it on the receipt - but I almost never use that function.

I don't have a problem putting cash into an ATM except for when I want the cash posted to my account right away and not 24+ hours later. Both the banks I use put a hold on all ATM deposits, does not matter if they are checks or cash.

I'll just use the teller.

Well the good news is I assumed that a single slot depository would win, but wanted to confirm.

The bad news is that I did not expect an equal amount of people to prefer a teller over an ATM for just a deposit.

Would you be more willing to use an ATM for a deposit if there was a person there to help like the self checkouts in stores?

So, how many teller jobs depend on this poll?

TxBrew said:

I'll just use the teller.

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Ditto. I use a small, local savings and loan. I like my bank tellers and use them whenever I need banking.

Don't take people's jobs away in the name of "convenience". I have never gotten a "Good morning! How is the baby?" from an ATM.

stratslinger said:

Wow - so far a slight majority prefer to go to a teller???

It's 2011, and people still feel like they need to go to a teller to deposit a check?

It never ceases to amaze me, the crowds of people that wait in line at the bank on a Saturday morning, or whatever night the bank happens to be open late, for the exact same things that they can literally drive up to the ATM and be done with inside of 2 minutes... I guess I just don't get it - what magic do the tellers do that makes it worthwhile to wait in line like that when the quick alternative of the ATM is right there?

Click to expand...

I prefer a teller because...1..they are nice people and I consider them friends...2. if you deposit in the atm funds arent available for like three days vs. instantly for an in person deposit.

I like the ATm, much quicker, easier, and best of all, Open 24/7. As for putting cash into an ATM, unless I become a stripper, I can't think of a reason that I would have enough cash to make it worth depositing it. But I use the check deposit at the ATM whenever I have checks, can't remember the last tiem I went into a bank.