News

Survey: ATM deposits get the nod over human teller deposits

December 2, 2010

Consumers prefer depositing money into an ATM instead of handing the funds over to a bank teller to deposit, according to an online survey byWincor Nixdorf AG, the world's second-largest ATM manufacturer, based on annual shipments.

According to the poll, 66 percent of consumers utilized ATMs to deposit checks, and 49 percent utilized ATMs to deposit cash. The survey found that 81 percent of consumers ranked check and cash deposit at the ATM as the machine's most important feature, second only to cash withdrawals. One hundred percent of survey participants withdrew funds from ATMs.

Fifty-six percent of consumers checked their bank account balances at the ATM. Fifty-four percent of consumers indicated their banks offered envelope-free check and cash deposits, and 67 percent of those surveyed said this feature is very important to the quality of their bank's ATM.

One of the survey's key findings was that banks offering envelope-less cash/check deposit enjoy "a clear competitive advantage," according to the announcement from Wincor Nixdorf. Nearly two-thirds, or 63 percent, of the entire sample agreed that with all else being equal, they'd prefer a bank that offered envelope-less cash and check deposit over one that didn't.

Wincor Nixdorf, which is based in Paderborn, Germany, surveyed 200 consumers aged 18 to 64 who visited an ATM more than three times a month.