My credit union doesn’t want me to come in and bother them if I have a check to be deposited in my account. If I have a scanner at home and access to the Internet, I can just deposit my checks from home!
It saves me a trip to the bank, time, gas and the opportunity to do something else useful. For the bank, I am doing all the work. They don’t need me showing up at the branch needing time on their part to do the work I can do from home.
Chase Begins Converting Its ATM Fleet to No-Envelope Machines reports Bank and Technology. You can now deposit up to 30 checks in one go along with cash also in a Chase ATM.
They are trying to do away with Deposit Slips and that’s a great Value-added improvement for consumers as well as a lean improvement for banks. For the consumer, they get a scanned image of the check in the receipt as well as money that is available sooner because the intermediate step of somebody at the bank manually opening these envelopes and processing them is totally eliminated.
Businesses seem to be benefit even more because they don’t need to write a big deposit slip with thirty or forty checks each time. The ATM can just easily scan it all and print out a receipt with all the images.
In addition, it appears that the bank has eliminated fraudulent transactions where someone deposits their own checks into their own accounts and if that bank allowed withdrawals immediately, got the money out!
Great example of a Lean Improvement in check processing that is a win-win for everyone, except perhaps for the people not needed anymore to process these transactions at the bank!
Any general statement is like a check drawn on a bank. Its value depends on what is there to meet it. – Ezra Pound