Studies on aversion to ATMs for making deposits?

26 Jun 2008 - 11:22am
6 years ago
17 replies
1232 reads
Evan K. Stone
2008

Has anyone here heard of any studies or research that has been done to
determine why many people have an aversion to making deposits at ATMs?

Is it a fundamental distrust of handing money to a machine, or are there
deeper issues involved?

evan k. stone | sr. ux developer | dragnet solutions, inc.

Comments

26 Jun 2008 - 2:51pm
Bryan J Busch
2006

Hi, Evan,

I don't see any studies, but I did used to work Customer Service for
Bank of America, so I have a good deal of anecdotal evidence.

I think the only reason that people ever gave me was that they were
afraid the deposit would get lost. That does unfortunately happen,
but we were always able to find the deposit eventually, and we'd
give them a temporary credit in the meantime to make up for it.

You might also look for studies about people who are averse to Direct
Deposit. I think the same mindset would lead to both aversions.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Posted from the new ixda.org
http://www.ixda.org/discuss?post=30789

26 Jun 2008 - 3:23pm
Robert Hoekman, Jr.
2005

>
> Is it a fundamental distrust of handing money to a machine, or are there
> deeper issues involved?
>

I don't have any facts to back this up, but ...

1. Many (if not most) banks take 2-4 business days to clear checks deposited
through an ATM.
2. A huge number of people live paycheck-to-paycheck. They need their
money right
now.
3. Hence, depositing a check via an ATM could mean bouncing a check for a
utility bill, not eating the next day, or having your water turned off.

Another thought is that ATM deposits mean you have to follow up on the
transaction. In the days following the deposit, you have to check your
balance repeatedly to make sure the deposit is posted.

-r-

26 Jun 2008 - 3:39pm
Catriona Lohan-...
2007

from my personal study...

I had an issue recently where I deposited a Citibank check to a BoA a/
c via ATM.
The check was from my roommate who's been giving me checks for months.
The check showed in my account as pending and took 10 days to clear.
I eventually got a letter saying that the reason the check had a
pending status was that they believed it was a 3rd party check.
I thought that was BS and I was upset about it and when I questioned
the bank they told me not to use the ATM for check deposit as if it
took time to clear and caused any fees they would not refund them as
it was my own fault not to use bank tellers!

Doesn't this defeat one of the main purposes for ATMs... out of hours
banking?

__________________________
Catríona Lohan-Conway
User Experience Architect
917 405 5127
clohanconway at mac.com

26 Jun 2008 - 3:51pm
Elizabeth Buie
2004

I don't use ATMs for making deposits. If something mechanical goes wrong and the machine mangles my check, it's a lot of work and time to get another one.

Elizabeth

--
Elizabeth Buie
Luminanze Consulting, LLC
www.luminanze.com

26 Jun 2008 - 4:07pm
Katie Albers
2005

Not using an ATM for deposits is not entirely illogical. In very
early ATM days, I made the mistake of depositing cash and was later
told that I'd deposited an empty envelope. In that case, there was
really no recourse for me; it was strictly an I said/They said issue.

Many years later, I deposited a check and was once again told that
the envelope had been empty. In that case, I managed to track down
what had happened, but it took a very long time to straighten out and
in the meantime I didn't have the money.

Banks in general are becoming less and less service oriented, combine
that with the apparent disappearance of the deposit when you use the
ATM and the customer can feel very vulnerable and unsettled --
whether consciously or not.

At least when you make a deposit with a teller you have a transaction
with an identifiable human being and you wind up with a piece of
paper that tells you a sum of money was acknowledged as received and
deposited. It feels less conditional and tenuous than ATM deposits
often do.

In the case of direct deposits, I suspect that there's less sense of
a physical object that can be lost or misappropriated, so I wouldn't
expect that to be comparable.

Katie

--

----------------
Katie Albers
katie at firstthought.com

26 Jun 2008 - 12:45pm
yunustunak
2008

Hi,
As a designer who maintained ATM interfaces of a leading bank in Turkey for
more then 2 years, i can easily say that its all about technology, easy of
use and marketing. Finance is one of the heaviest competition field in
Turkey and companies heavily invest in technology. ATM and web banking
penetration is enormous and many banks heavily promote these tools.

Nowadays you can buy match or concert tickets from ATMs, pay your bills or
credit card payments without any need for a card. ATMs are 16million
colored, touch-screened and heavily updated with promotion materials.

People are easily using them for any activity and banks are promoting that
with getting service fees if you do the same operations inside the bank.

IMO its very similar to using data services with a 1st generation mobile
phone and an iphone.

Best regards,
Yunus Tunak

////////////////////////////////////////////////////////////////////////////////////////////////////////////

Creative Lead, Partner
spacesheep interactive | www.spacesheep.net | Istanbul, Turkey

////////////////////////////////////////////////////////////////////////////////////////////////////////////

On Thu, Jun 26, 2008 at 7:22 PM, Evan K. Stone <
evan.stone at dragnetsolutions.com> wrote:

> Has anyone here heard of any studies or research that has been done to
> determine why many people have an aversion to making deposits at ATMs?
>
> Is it a fundamental distrust of handing money to a machine, or are there
> deeper issues involved?
>
>
> evan k. stone | sr. ux developer | dragnet solutions, inc.
>
> ________________________________________________________________
> Welcome to the Interaction Design Association (IxDA)!
> To post to this list ....... discuss at ixda.org
> Unsubscribe ................ http://www.ixda.org/unsubscribe
> List Guidelines ............ http://www.ixda.org/guidelines
> List Help .................. http://www.ixda.org/help
>

26 Jun 2008 - 12:20pm
usabilitymedic
2008

Question: does your source make a distinction in the aversion level
based on cash or check?

Maureen Murphy
President

516-670-8000
www.usabilitymedic.com

26 Jun 2008 - 3:38pm
Mabel Ney
2008

This is from research done by Jinkook Lee an Ohio State professor of
Consumer Sciences in 1999 regarding adoption of banking technology.

"Even people who use ATMs and computer banking for shopping and
making payments tend to deposit checks in person. By handing the
check to a human teller at the bank, people feel they%u2019ve
attained an extra level of security beyond depositing an envelope
into an ATM."

She may have more recent research or be cited in more recent
research.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Posted from the new ixda.org
http://www.ixda.org/discuss?post=30789

26 Jun 2008 - 4:11pm
Pat Cheung
2008

Hi Evan,

If the recent new feature of certain BofA ATM machines is any indication.
They've recently added this new feature to encourage more trust in ATM's.
Instead of sticking deposit checks in envelopes to insert into the machine,
you now insert checks directly into the slot. The inserted check is scanned,
and a copy of the actual check is printed right onto your outcoming receipt.
Brilliant right! Now, no worries of "lost" checks at least, cause you have
the evidence of deposit right on the receipt. Added bonus is they go GREEN
by saving on envelopes.

I'm guessing they've must've done surveys to realize that this adversity of
distrust must've existed to justify putting in this new costly feature.
Wonder if they are seeing some cost saving benefits by less workload on
tellers?

Still would be adverse to depositing cash into ATM though. My .02 cents....

--
pat cheung
email: rapatapat at gmail.com
blog: methink.com- Show quoted text -

On Thu, Jun 26, 2008 at 9:22 AM, Evan K. Stone <
evan.stone at dragnetsolutions.com> wrote:

> Has anyone here heard of any studies or research that has been done to
> determine why many people have an aversion to making deposits at ATMs?
>
> Is it a fundamental distrust of handing money to a machine, or are there
> deeper issues involved?
>
>
> evan k. stone | sr. ux developer | dragnet solutions, inc.
>
> ________________________________________________________________
> Welcome to the Interaction Design Association (IxDA)!
> To post to this list ....... discuss at ixda.org
> Unsubscribe ................ http://www.ixda.org/unsubscribe
> List Guidelines ............ http://www.ixda.org/guidelines
> List Help .................. http://www.ixda.org/help
>

--
pat cheung
email: rapatapat at gmail.com
blog: methink.com

26 Jun 2008 - 4:45pm
Fabio Fernandes
2008

I'm on the opposite side of the thread so far.
I rarely go inside the branch and never experienced any problems with ATM deposits.

Wells Fargo (I believe BofA as well, not sure) has implemented a while back the feature of depositing cash or check without envelope:
- Cash deposit: it counts all the bills and displays the number of each bill and waits for your confirmation. If you don't confirm, it returns your bills.

- Check Deposit: similar to cash, it shows the check amount and asks for your confirmation. In addition, it provides you the option to print a receipt with the check image on it.

I've been very pleased with their ATM interface and the various confirmations points it presents the user, which in a financial transaction, I feel it's critical.

Fabio

26 Jun 2008 - 6:16pm
andrea
2006

I'd just like to chime in because my experience is inline with Fabio's
and it appears positive experiences are in the minority.

I use Citibank in NYC and frequently use direct deposit when working
with large corporations for long-term assignments, so depositing
checks is rarely an issue (or hassle) that I have to manage. I also
have immediate access to the funds the day of the deposit.

When in-between projects and working for smaller clients, I get a lot
of paper checks. For a while in 2002, I really relied on these small
client checks as work was scarce and I was living
paycheck-to-paycheck. I remember waiting on line at a Citibank
location to deposit a check with a teller, I asked her when the funds
would be available and she told me it would take a few days for the
check to clear. I was a bit distraught and explained that I had a few
large payments pending and didn't want any overdraft issues. She
suggested next time that I use the ATM since the ATM allowed for
"immediate" access to a fraction of the funds, if not all of it --
based on banking history, account balance, etc. So, basically, if my
account had enough funds (or my average daily balance was enough) to
cover the amount of the check being deposited, I would have access to
all of the check as cash immediately...

Since that day in 2002, I have been using the ATMs for deposits and
have never looked back. I NEVER use a teller.

Granted, although a convert, I can think of much needed improvements
to the ATM process.

Even though I "trust" the ATM to give me my money immediately, I don't
trust the ATM to be accountable for the transaction. So, I rely on my
own process. I make sure that I get a receipt of the deposit -
always. And, if the check is very large, I tend to photo copy it
before I deposit it. Just my "cover all bases" attitude since I dont
expect the machine to be as responsible as the only human in the
interaction... me.

Now, the feedback feature Fabio and Pat mention would allay my
fears... the visual recognition of the actual check on-screen would be
ideal (and also if it includes a snazzy print-out of the scanned
check).

As it stands, the Citibank ATMs are severely bare-bones... just pop-in
your discreet deposit envelope... so bare-bones to the point where I
don't even think the machine would recognize if I DIDN'T insert an
envelope. In fact, in my Calvin and Hobbes daydreams I imagine a team
of "ATM armored-security-gnomes" who must gather and reconcile all the
deposits daily, regardless of the automated process we all do.... of
course they live in the machines, and require no food or sleep.... the
fact that I have already digitally entered the correct amount of my
deposit just means these fastidious and honest gnomes have to do one
less bit of data entry.

So, Evan, the short answer is that I do not know of any research
off-hand. But I hope this polling of the group and a bit of anecdotal
evidence might point you in the right direction or show you some of
the overriding issues.

cheers,
AL

On Thu, Jun 26, 2008 at 5:45 PM, Fernandes, Fabio (APG)
<Fabio.Fernandes at cengage.com> wrote:
> I'm on the opposite side of the thread so far.
> I rarely go inside the branch and never experienced any problems with ATM deposits.
>
> Wells Fargo (I believe BofA as well, not sure) has implemented a while back the feature of depositing cash or check without envelope:
> - Cash deposit: it counts all the bills and displays the number of each bill and waits for your confirmation. If you don't confirm, it returns your bills.
>
> - Check Deposit: similar to cash, it shows the check amount and asks for your confirmation. In addition, it provides you the option to print a receipt with the check image on it.
>
> I've been very pleased with their ATM interface and the various confirmations points it presents the user, which in a financial transaction, I feel it's critical.
>
> Fabio
> ________________________________________________________________
> Welcome to the Interaction Design Association (IxDA)!
> To post to this list ....... discuss at ixda.org
> Unsubscribe ................ http://www.ixda.org/unsubscribe
> List Guidelines ............ http://www.ixda.org/guidelines
> List Help .................. http://www.ixda.org/help
>

26 Jun 2008 - 8:14pm
Anjali Arora, NYU
2004

In my area (Jersey City, NJ), Bank of America has recently introduced new ATM machines that are great especially for deposits of checks. I no longer need to write my account # on the back of the check, nor do I need to put each check into an envelope. Instead, once I instruct the machine that I want to make a deposit of a check, I am asked to insert the check in the appropriate slot in the machine; a scan of the check now appears on the screen, & once I confirm that this is indeed the check I put in, I am issued a receipt which includes a scanned image of the check!

I would be very wary of depositing cash in the ATM, though.
-Anjali

----- Original Message -----
From: Andrea Lewis <helloandrea at gmail.com>
Date: Thursday, June 26, 2008 7:16 pm
Subject: Re: [IxDA Discuss] Studies on aversion to ATMs for making deposits?
To: "Fernandes, Fabio (APG)" <Fabio.Fernandes at cengage.com>
Cc: "discuss at ixda.org" <discuss at ixda.org>

> I'd just like to chime in because my experience is inline with Fabio's
> and it appears positive experiences are in the minority.
>
> I use Citibank in NYC and frequently use direct deposit when working
> with large corporations for long-term assignments, so depositing
> checks is rarely an issue (or hassle) that I have to manage. I also
> have immediate access to the funds the day of the deposit.
>
> When in-between projects and working for smaller clients, I get a lot
> of paper checks. For a while in 2002, I really relied on these small
> client checks as work was scarce and I was living
> paycheck-to-paycheck. I remember waiting on line at a Citibank
> location to deposit a check with a teller, I asked her when the funds
> would be available and she told me it would take a few days for the
> check to clear. I was a bit distraught and explained that I had a few
> large payments pending and didn't want any overdraft issues. She
> suggested next time that I use the ATM since the ATM allowed for
> "immediate" access to a fraction of the funds, if not all of it --
> based on banking history, account balance, etc. So, basically, if my
> account had enough funds (or my average daily balance was enough) to
> cover the amount of the check being deposited, I would have access to
> all of the check as cash immediately...
>
> Since that day in 2002, I have been using the ATMs for deposits and
> have never looked back. I NEVER use a teller.
>
> Granted, although a convert, I can think of much needed improvements
> to the ATM process.
>
> Even though I "trust" the ATM to give me my money immediately, I don't
> trust the ATM to be accountable for the transaction. So, I rely on my
> own process. I make sure that I get a receipt of the deposit -
> always. And, if the check is very large, I tend to photo copy it
> before I deposit it. Just my "cover all bases" attitude since I dont
> expect the machine to be as responsible as the only human in the
> interaction... me.
>
> Now, the feedback feature Fabio and Pat mention would allay my
> fears... the visual recognition of the actual check on-screen would be
> ideal (and also if it includes a snazzy print-out of the scanned
> check).
>
> As it stands, the Citibank ATMs are severely bare-bones... just pop-in
> your discreet deposit envelope... so bare-bones to the point where I
> don't even think the machine would recognize if I DIDN'T insert an
> envelope. In fact, in my Calvin and Hobbes daydreams I imagine a team
> of "ATM armored-security-gnomes" who must gather and reconcile all the
> deposits daily, regardless of the automated process we all do.... of
> course they live in the machines, and require no food or sleep.... the
> fact that I have already digitally entered the correct amount of my
> deposit just means these fastidious and honest gnomes have to do one
> less bit of data entry.
>
> So, Evan, the short answer is that I do not know of any research
> off-hand. But I hope this polling of the group and a bit of anecdotal
> evidence might point you in the right direction or show you some of
> the overriding issues.
>
> cheers,
> AL
>
>
>
>
> On Thu, Jun 26, 2008 at 5:45 PM, Fernandes, Fabio (APG)
> <Fabio.Fernandes at cengage.com> wrote:
> > I'm on the opposite side of the thread so far.
> > I rarely go inside the branch and never experienced any problems
> with ATM deposits.
> >
> > Wells Fargo (I believe BofA as well, not sure) has implemented a
> while back the feature of depositing cash or check without envelope:
> > - Cash deposit: it counts all the bills and displays the number of
> each bill and waits for your confirmation. If you don't confirm, it
> returns your bills.
> >
> > - Check Deposit: similar to cash, it shows the check amount and asks
> for your confirmation. In addition, it provides you the option to
> print a receipt with the check image on it.
> >
> > I've been very pleased with their ATM interface and the various
> confirmations points it presents the user, which in a financial
> transaction, I feel it's critical.
> >
> > Fabio
> > ________________________________________________________________
> > Welcome to the Interaction Design Association (IxDA)!
> > To post to this list ....... discuss at ixda.org
> > Unsubscribe ................ http://www.ixda.org/unsubscribe
> > List Guidelines ............ http://www.ixda.org/guidelines
> > List Help .................. http://www.ixda.org/help
> >
> ________________________________________________________________
> Welcome to the Interaction Design Association (IxDA)!
> To post to this list ....... discuss at ixda.org
> Unsubscribe ................ http://www.ixda.org/unsubscribe
> List Guidelines ............ http://www.ixda.org/guidelines
> List Help .................. http://www.ixda.org/help

26 Jun 2008 - 9:06pm
Christine Boese
2006

On an unrelated tangent, I stopped writing account numbers on the backs of
checks a long time ago, because many people get their checks back (not as
many as before, but I remember the day), so you are basically giving out
your bank account number to anyone who has written you a check. yeow!

Also back in the day, I used to work retail, and used to be in charge of
various nightly "tills". Many times, I was going by the bank after a late
shift with a big bag of cash, change, and checks, to put in the night
deposit. Sort of boggles your mind, now, eh? I was in my early 20s and
trusted by my employer to carry that kind of cash around at my McJob!

And I wasn't even scared to go up to the night deposit window all by myself
on my way home. My biggest worry back then centered more around making sure
my till matched what the final printout of the cash register said it had to
be (if it didn't, I had to fill out a form). At least by then we had
employee numbers for each transaction. I remember earlier restaurant tills
where 3-4 people were in and out with transactions, but whoever got stuck
cashing out the till at the end of the night would get blamed for the
errors.

So generally, I don't mind using the ATM for deposits, as it seems more
secure than those night deposit boxes I drove up to at 1 am. The space feels
more safe and protected, and I also get a receipt. In my imagination, the
little squirrels that run in the wheels behind the buttons I push spin some
kind of rolly thing that prints at least a time stamp and a version of my
receipt on the envelope. I like the envelopes.

Now if it were a significant sum ($600+ or so), I'd probably want to look
the teller in the eye. For a while, I had an account that charged me $2 for
every teller visit past 2 a month (that would be right up there with credit
cards charging your a billing fee for the pleasure of getting to pay your
bill, eh?).

Gone are the days when I'd carry $1,500+ cash in a zippered bag after a
double header at the concession stand at a semi-pro baseball game... and
just ceremoniously dump that sum in a night deposit box at 1 am.

Chris

On Thu, Jun 26, 2008 at 9:14 PM, Anjali R Arora <aa917 at nyu.edu> wrote:

> In my area (Jersey City, NJ), Bank of America has recently introduced new
> ATM machines that are great especially for deposits of checks. I no longer
> need to write my account # on the back of the check, nor do I need to put
> each check into an envelope. Instead, once I instruct the machine that I
> want to make a deposit of a check, I am asked to insert the check in the
> appropriate slot in the machine; a scan of the check now appears on the
> screen, & once I confirm that this is indeed the check I put in, I am issued
> a receipt which includes a scanned image of the check!
>
> I would be very wary of depositing cash in the ATM, though.
> -Anjali
>
> ----- Original Message -----
> From: Andrea Lewis <helloandrea at gmail.com>
> Date: Thursday, June 26, 2008 7:16 pm
> Subject: Re: [IxDA Discuss] Studies on aversion to ATMs for making
> deposits?
> To: "Fernandes, Fabio (APG)" <Fabio.Fernandes at cengage.com>
> Cc: "discuss at ixda.org" <discuss at ixda.org>
>
> > I'd just like to chime in because my experience is inline with Fabio's
> > and it appears positive experiences are in the minority.
> >
> > I use Citibank in NYC and frequently use direct deposit when working
> > with large corporations for long-term assignments, so depositing
> > checks is rarely an issue (or hassle) that I have to manage. I also
> > have immediate access to the funds the day of the deposit.
> >
> > When in-between projects and working for smaller clients, I get a lot
> > of paper checks. For a while in 2002, I really relied on these small
> > client checks as work was scarce and I was living
> > paycheck-to-paycheck. I remember waiting on line at a Citibank
> > location to deposit a check with a teller, I asked her when the funds
> > would be available and she told me it would take a few days for the
> > check to clear. I was a bit distraught and explained that I had a few
> > large payments pending and didn't want any overdraft issues. She
> > suggested next time that I use the ATM since the ATM allowed for
> > "immediate" access to a fraction of the funds, if not all of it --
> > based on banking history, account balance, etc. So, basically, if my
> > account had enough funds (or my average daily balance was enough) to
> > cover the amount of the check being deposited, I would have access to
> > all of the check as cash immediately...
> >
> > Since that day in 2002, I have been using the ATMs for deposits and
> > have never looked back. I NEVER use a teller.
> >
> > Granted, although a convert, I can think of much needed improvements
> > to the ATM process.
> >
> > Even though I "trust" the ATM to give me my money immediately, I don't
> > trust the ATM to be accountable for the transaction. So, I rely on my
> > own process. I make sure that I get a receipt of the deposit -
> > always. And, if the check is very large, I tend to photo copy it
> > before I deposit it. Just my "cover all bases" attitude since I dont
> > expect the machine to be as responsible as the only human in the
> > interaction... me.
> >
> > Now, the feedback feature Fabio and Pat mention would allay my
> > fears... the visual recognition of the actual check on-screen would be
> > ideal (and also if it includes a snazzy print-out of the scanned
> > check).
> >
> > As it stands, the Citibank ATMs are severely bare-bones... just pop-in
> > your discreet deposit envelope... so bare-bones to the point where I
> > don't even think the machine would recognize if I DIDN'T insert an
> > envelope. In fact, in my Calvin and Hobbes daydreams I imagine a team
> > of "ATM armored-security-gnomes" who must gather and reconcile all the
> > deposits daily, regardless of the automated process we all do.... of
> > course they live in the machines, and require no food or sleep.... the
> > fact that I have already digitally entered the correct amount of my
> > deposit just means these fastidious and honest gnomes have to do one
> > less bit of data entry.
> >
> > So, Evan, the short answer is that I do not know of any research
> > off-hand. But I hope this polling of the group and a bit of anecdotal
> > evidence might point you in the right direction or show you some of
> > the overriding issues.
> >
> > cheers,
> > AL
> >
> >
> >
> >
> > On Thu, Jun 26, 2008 at 5:45 PM, Fernandes, Fabio (APG)
> > <Fabio.Fernandes at cengage.com> wrote:
> > > I'm on the opposite side of the thread so far.
> > > I rarely go inside the branch and never experienced any problems
> > with ATM deposits.
> > >
> > > Wells Fargo (I believe BofA as well, not sure) has implemented a
> > while back the feature of depositing cash or check without envelope:
> > > - Cash deposit: it counts all the bills and displays the number of
> > each bill and waits for your confirmation. If you don't confirm, it
> > returns your bills.
> > >
> > > - Check Deposit: similar to cash, it shows the check amount and asks
> > for your confirmation. In addition, it provides you the option to
> > print a receipt with the check image on it.
> > >
> > > I've been very pleased with their ATM interface and the various
> > confirmations points it presents the user, which in a financial
> > transaction, I feel it's critical.
> > >
> > > Fabio
> > > ________________________________________________________________
> > > Welcome to the Interaction Design Association (IxDA)!
> > > To post to this list ....... discuss at ixda.org
> > > Unsubscribe ................ http://www.ixda.org/unsubscribe
> > > List Guidelines ............ http://www.ixda.org/guidelines
> > > List Help .................. http://www.ixda.org/help
> > >
> > ________________________________________________________________
> > Welcome to the Interaction Design Association (IxDA)!
> > To post to this list ....... discuss at ixda.org
> > Unsubscribe ................ http://www.ixda.org/unsubscribe
> > List Guidelines ............ http://www.ixda.org/guidelines
> > List Help .................. http://www.ixda.org/help
> ________________________________________________________________
> Welcome to the Interaction Design Association (IxDA)!
> To post to this list ....... discuss at ixda.org
> Unsubscribe ................ http://www.ixda.org/unsubscribe
> List Guidelines ............ http://www.ixda.org/guidelines
> List Help .................. http://www.ixda.org/help
>

27 Jun 2008 - 12:37am
Calvin
2008

I am not sure if this is completely relevant, but this site talks
about a redesign of ATM user experience. One thing to note is that,
the machine has an integrated scanner that immediately scans your
cheques as soon as you feed them into it. Perhaps that can take away
some security concerns from customers?

http://physicalinterface.com/view/that-design-is-money

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Posted from the new ixda.org
http://www.ixda.org/discuss?post=30789

26 Jun 2008 - 6:54pm
usabilitymedic
2008

Bank of America is doing great things in this area. Not all branches
have these ATMs yet but I am lucky to have one in my town.

1) No envelope or deposit slip is necessary. Sign the check. Dip
your card. And, after a couple of screens to explain what you want
to do it opens a slot and asks you to insert your check.

2) You don't even need to tell it the amount. IT READS THE CHECK,
displays the amount and asks for confirmation of the amount. Truly
amazing to me the first time I saw this in action. Caveat: There
are some checks that give it trouble. When it can't read one, it
shows an image of the check on the screen and asks the user to type
in the amount. It even has a zoom if needed to see the exact amount
up closer.

3) It confirms receipt of the deposit and asks if you want to deposit
another

4) Finally, the receipt (if the user has chosen to receive one) has a
small digital image of the check(s) on it!

I never had trust issues with the depositing into ATMs but always
found the process tedious and annoying. I am actually tickled about
depositing check now. (OK, the novelty just hasn't worn off yet).

After seeing this post the other day, I also asked a teller if there
had been any complaints about the new deposit method. She said it's
been about a year and the only real complaints had come from folks
who had a lot of checks to deposit. So, there's room for improvement :)

Hope this was helpful. (BTW-These ATMS also accept cash deposits but
I have not had reason to try that.)

On Jun 26, 2008, at 7:16 PM, Andrea Lewis wrote:

I'd just like to chime in because my experience is inline with Fabio's
and it appears positive experiences are in the minority.

I use Citibank in NYC and frequently use direct deposit when working
with large corporations for long-term assignments, so depositing
checks is rarely an issue (or hassle) that I have to manage. I also
have immediate access to the funds the day of the deposit.

When in-between projects and working for smaller clients, I get a lot
of paper checks. For a while in 2002, I really relied on these small
client checks as work was scarce and I was living
paycheck-to-paycheck. I remember waiting on line at a Citibank
location to deposit a check with a teller, I asked her when the funds
would be available and she told me it would take a few days for the
check to clear. I was a bit distraught and explained that I had a few
large payments pending and didn't want any overdraft issues. She
suggested next time that I use the ATM since the ATM allowed for
"immediate" access to a fraction of the funds, if not all of it --
based on banking history, account balance, etc. So, basically, if my
account had enough funds (or my average daily balance was enough) to
cover the amount of the check being deposited, I would have access to
all of the check as cash immediately...

Since that day in 2002, I have been using the ATMs for deposits and
have never looked back. I NEVER use a teller.

Granted, although a convert, I can think of much needed improvements
to the ATM process.

Even though I "trust" the ATM to give me my money immediately, I don't
trust the ATM to be accountable for the transaction. So, I rely on my
own process. I make sure that I get a receipt of the deposit -
always. And, if the check is very large, I tend to photo copy it
before I deposit it. Just my "cover all bases" attitude since I dont
expect the machine to be as responsible as the only human in the
interaction... me.

Now, the feedback feature Fabio and Pat mention would allay my
fears... the visual recognition of the actual check on-screen would be
ideal (and also if it includes a snazzy print-out of the scanned
check).

As it stands, the Citibank ATMs are severely bare-bones... just pop-in
your discreet deposit envelope... so bare-bones to the point where I
don't even think the machine would recognize if I DIDN'T insert an
envelope. In fact, in my Calvin and Hobbes daydreams I imagine a team
of "ATM armored-security-gnomes" who must gather and reconcile all the
deposits daily, regardless of the automated process we all do.... of
course they live in the machines, and require no food or sleep.... the
fact that I have already digitally entered the correct amount of my
deposit just means these fastidious and honest gnomes have to do one
less bit of data entry.

So, Evan, the short answer is that I do not know of any research
off-hand. But I hope this polling of the group and a bit of anecdotal
evidence might point you in the right direction or show you some of
the overriding issues.

cheers,
AL

On Thu, Jun 26, 2008 at 5:45 PM, Fernandes, Fabio (APG)
<Fabio.Fernandes at cengage.com> wrote:
> I'm on the opposite side of the thread so far.
> I rarely go inside the branch and never experienced any problems
> with ATM deposits.
>
> Wells Fargo (I believe BofA as well, not sure) has implemented a
> while back the feature of depositing cash or check without envelope:
> - Cash deposit: it counts all the bills and displays the number of
> each bill and waits for your confirmation. If you don't confirm, it
> returns your bills.
>
> - Check Deposit: similar to cash, it shows the check amount and
> asks for your confirmation. In addition, it provides you the option
> to print a receipt with the check image on it.
>
> I've been very pleased with their ATM interface and the various
> confirmations points it presents the user, which in a financial
> transaction, I feel it's critical.
>
> Fabio
> ________________________________________________________________
> Welcome to the Interaction Design Association (IxDA)!
> To post to this list ....... discuss at ixda.org
> Unsubscribe ................ http://www.ixda.org/unsubscribe
> List Guidelines ............ http://www.ixda.org/guidelines
> List Help .................. http://www.ixda.org/help
>
________________________________________________________________
Welcome to the Interaction Design Association (IxDA)!
To post to this list ....... discuss at ixda.org
Unsubscribe ................ http://www.ixda.org/unsubscribe
List Guidelines ............ http://www.ixda.org/guidelines
List Help .................. http://www.ixda.org/help

27 Jun 2008 - 9:16am
Jeff Howard
2004

Chris wrote:
> Many times, I was going by the bank after a late shift
> with a big bag of cash, change, and checks, to put in
> the night deposit.

I was on the other side of the fence, working as a teller the summer
before college. I was regularly amazed at how trusting people were of
the night drop, which I agree is the conceptual precursor to ATM
deposits.

Folks would stuff a check in an envelope and drop it into the slot,
without labeling the envelope and without any indication of what
should be done with the check. Usually it would turn out to be a loan
payment, but we'd have to infer that based on the printed info on the
check and a quick search for which loans were due that week. Sometimes
the info on the check wouldn't match any loans or accounts but the
tellers would somehow know what it was for anyway!

Mistakes crept up every now and then. Envelopes would get stuck on a
particular rivet in the night drop slot and fail to make it to the
bottom. We also had to keep all the envelopes for a certain number of
months, because invariably someone would complain that a deposit
hadn't gone through and we'd have to open the bags of empty
envelopes to find one that had been overlooked and unopened.

I suppose ATM deposits remove that human variability, but I still
prefer face to face contact with some accountability and flexibility
built in.

// jeff

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Posted from the new ixda.org
http://www.ixda.org/discuss?post=30789

3 Jul 2008 - 9:37am
DrWex
2006

For all the improvements in UIs to ATMs it's not clear to me they are
addressing the core issue, which is the chain of responsibility and
accountability that builds trust.

I haven't deposited anything at an ATM since I read the fine print on
my ATM "transaction record.' That fine print explicitly stated that
the piece of paper spit out by the machine was in fact a transaction
record and not a receipt. That is, the bank didn't acknowledge having
received anything from me. The fine print further pointed out that by
not having a receipt I was bearing responsibility. I feel that under
these circumstances, the rational thing to do is to do deposits in
person. I don't care what BoA prints on that piece of paper - until
they acknowledge it's a receipt and they are responsible I'm not using
it and I'll continue to advise people not to use it.

I agree that most people don't reason this way and I'm pretty sure
99.99% of people have never read the fine print on that piece of
paper. But everyone has a story, or knows someone who has a story, or
saw a story on their local news. The atmosphere created is one where
trust is not well founded so it's hardly surprising when it's absent.

I think credit card companies have gone to great lengths (and factored
in larger losses due to fraud) in order to create an atmosphere in
which people are more willing to trust their credit card companies
than their banks. it's a great lesson in user psychology, if nothing
else.

Best,
--Alan

Syndicate content Get the feed