Print temporary checks with the personal teller machine
The Personal Teller Machine offers a self-service “check withdrawal” transaction that allows the customer to print personalized temporary checks in addition to other check types such as official or cashier’s checks. Allowing the customer to complete the check issuance process through a self-service kiosk creates a better in-branch customer experience, and provides an incremental fee revenue opportunity for the bank, without increasing a teller’s workload.
According to Gallop, 80 percent of new bank accounts are still opened in a branch instead of online or over the phone. With each new account opened, the financial institution typically issues a set of pre-printed temporary checks for the customer to use while their personalized checks are ordered and shipped. Generic temporary checks can raise security concerns with vendors, which may lead to rejecting the check as a form of payment.
Custom starter checks provide a unique way to reduce the hassle and risk associated with temporary checks for both the customer and the financial institution. The ability to create customized temporary checks in-house provides the customer with starter checks that include all of their personal information, reducing the headaches and costs associated with generic starter checks.
Custom starter checks provide many benefits for both the customer and the bank, including incremental fee revenue and reduced risk of check fraud, and now the customer can get their temporary checks using self-service.
The Personal Teller Machine integrates with the financial institution’s core platform which allows customer information to be securely auto-populated onto a temporary check form.
- The customer starts a transaction using the Personal Teller Machine by selecting the applicable workflow from the main screen.
- The customer enters the variable information into the temporary check form. An image of the temporary check is displayed on the screen, and the customer validates the information to be printed on the check.
- Once the transaction is completed and confirmed by the customer, the Personal Teller Machine sends the data to a secure MICR check printer.
- The printer drawer holds different types of blank check stock, such as starter check stock or official check stock, so the Personal Teller Machine tells the MICR check printer which blank check stock to use when printing the temporary checks.
- The customer collects the custom temporary checks from the MICR check printer and the transaction is complete.
To learn more about the Personal Teller Machine or custom temporary check printing solutions, click here.
Companies: Source Technologies