News

New check-cashing ATM expected to hit market next month

May 22, 2005

CARROLLTON, Texas - AmStar Systems Inc., a self-service financial kiosk manufacturer, will release its new check-cashing, multi-function ATM in late summer 2005, according to a news release.

The ATM, called the ecashier, uses PIN-based prepaid debit cards to identify check-cashing customers.

"The AmStar ecashier financial services kiosk has been designed to totally eliminate the need for a back-room office to handle customer identification and the check approval process," said Robert G. Farris Sr., AmStar's president and chief executive.

To receive the check-cashing card, the customer must answer questions at the ecashier for identification verification and an Office of Foreign Assets Control FAC scan, which is required by the USA Patriot Act of 2001. If the customer is approved, the machine dispenses a PIN-based debit card.

Customers can receive all or part of their checks in cash, or they may have funds loaded onto the issued debit cards.

Customers also can transfer funds or buy money orders at the ATM.

"Listen to the marketplace and you will find much interest in providing a variety of automated financial services for the large percentage of unbanked citizens in the U.S.," Farris said. "There is intense interest in automated check cashing. Many independent sales organizations with customers wanting to buy a self-service check-cashing, multi-function terminal have contacted us to inquire if we were going to manufacture such a unit."