NORTH CANTON, Ohio -- FleetBoston (NYSE: FBF) has teamed with Diebold, Incorporated (NYSE: DBD) to create "Paycheck Anytime," a terminal that automates the cashing of commercial payroll checks.
"The large number of on-us, commercial payroll checks being cashed in Fleet branches presents a significant customer experience challenge for us," said Jody M. Blatman, executive vice president for Fleet, in a news release. "This automated solution, developed in partnership with Diebold, relieves some burden from our teller lines, thus allowing us to enhance the overall service provided to all of our customers."
Fleet's "Paycheck Anytime" uses Diebold's advanced-function terminals equipped with an Intelligent Depository Module (IDM) and a coin dispensing module.
According to the release, consumers are issued a Fleet "Paycheck Anytime" card and PIN. They can then cash commercial payroll checks by inserting them into the terminal's IDM. Checks are cashed to the penny through the issuance of both currency and coin.
Diebold Transaction Service provides the back-end infrastructure to drive the check cashing terminals, including the check cashing, card management and enrollment processes. Fleet utilizes Diebold Transaction Services' real-time WEB interface to enroll check cashers, perform transaction research, download management reports and check the status of the check cashing terminal.
Fleet has deployed six check cashing terminals in a limited pilot and is currently evaluating plans for the expanded deployment of "Paycheck Anytime" terminals beginning in 2004.
