News

Video teller machines will cost jobs, protestors say

November 25, 2013

Bank tellers in New York recently took to the sidewalk to protest the installation by Bank of America of ATMs with teller assist. The activist tellers said the machines will result in a reduction of teller positions at the bank.

According to an ABC News report, BofA teller Alex Shalom is petitioning his employer to stop a planned rollout of the machines — 61 are already in place in major markets, with more planned for installation across the bank's U.S. footprint.

"Part of my job is building strong relationships and being able to recommend quality products," Shalom told ABCNews.com. "I don't think you can do that through a video screen when you're never going to know the customer and the customer will never know you."

BofA spokeswoman Tara Burke said that the purpose of the video teller machines was not to displace teller staff. "We are not planning to replace tellers. We're not cutting jobs," she said.

Burke also said that consumers like the machines.

"They like the additional non-traditional banking hours. They like the live interaction with the teller," she said. "Overall feedback from customers has been very good. We are always looking for ways to help our customers bank easier. This provides that and flexibility."

Read more about bank automation.