X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

OTTAWA, Canada – The Department of Finance Canada is considering whether to mandate financial institutions allow customers or members of other financial institutions to make deposits through their automated tellers. The goal would be to help level the competitive playing field between larger and smaller institutions. “ATM full functionality would enable individuals to conduct the full range of banking activities (e.g. deposits, withdrawals, bill payments, etc.) at any banking machine of their choice, regardless of institution or location,” the Department wrote in a response to a series of government hearings about the issue. Advocates of full functionality of ATMs as a means of overcoming barriers to competition in banking raised the issue during government hearings. They argued that full functionality would enhance competition and provide consumers with a wider range of choices for their ATM needs, no matter how big the bank or credit union.

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.