X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

<p>ARLINGTON, Va. – A new wave of ATMs with a host of new services and products will distract consumers from the unpopular fees they are paying to use the ATMs, some bankers hope. According to a story in the June 6 Wall Street Journal, reports that while the numbers of ATMs has risen to 324,000 nationwide in the past decade, the number of transactions per machine, and the income they generate, has dropped by half in the same time period. As a result some banks, along with nonbank retailers who get income from the machines hope a new generation of ATM will pump up the falling fee income. 7-Eleven Corporation, which has the so-called “dumb ATMs” in 5,300 of their stores, is testing a program in Florida and Texas that will offer ATM services even to those who have no bank account or credit card. Each of the test ATMs is able to cash checks and transfer funds in addition to performing the usual ATM services. Many banks plan on using their ATMs even more aggressively to cross-market their other products and services like checking accounts, credit cards and home-equity lines of credit.</p>

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.