Chase, the consumer and commercial banking business of J.P. Morgan Chase, plans to install NCR SelfServ ATMs at hundreds of locations in 2011. The new machines will feature NCR's Scalable Deposit Module technology, which lets consumers deposit both cash and checks simultaneously in any orientation through a single slot. Wells Fargo has been piloting these ATMs since October.
"NCR's new SDM technology will help make our Deposit Friendly ATMs even better," said Ryan McInerney, CEO of Consumer Banking at Chase. "It will be even easier for customers to make deposits at more of our ATMs."
Chase operates 16,000 ATMs across the U.S. and was one of the first banks to offer envelope-free check deposits at its ATMs.
According to NCR, a typical consumer transaction of five bank notes and two checks can take less than 60 seconds to deposit using this type of ATM. Small and medium size businesses, such as doctors and small business owners, who on average deposit between 12-20 checks and/or 25-30 notes per transaction, could find this useful.