News from the Wire

Bank of America launches interactive ATMs

Thursday, April 04, 2013 — 18:22:21 (EDT)

Charlotte, N.C., April 4, 2013 -- Bank of America today announced the launch of its newest banking innovation, ATM with Teller Assist. This next-generation banking offering combines the technology and convenience of an ATM with the human touch of a teller.

The new technology gives customers access to a range of services during extended hours to address their daily banking needs, and provides them with convenience, control and flexibility over how, when and where they bank. Using the new ATMs, customers can speak with a Bank of America teller via real-time video and receive the same quality of personal assistance they would if they walked up to a banking center counter.

ATM with Teller Assist, which will offer bilingual support in both English and Spanish, offers customers many of the services a traditional banking center teller would, including the ability to:

• Cash checks for the exact amount, including receiving change.
• Receive cash withdrawals in a variety of denominations ($1, $5, $20 and $100).
• Deposit checks with cash back (future functionality).
• Split a deposit into two or more accounts (future functionality).
• Make loan or credit card payments (future functionality).

“We know that customers want to bank on their schedule – not ours – so we are constantly looking at how to deliver more convenient banking options to them,” said Katy Knox, Retail Banking and Distribution executive at Bank of America. “This technology gives customers easy, convenient access to ATM banking services with the added option of having a personal interaction and the support of a teller available at the push of a button.”

ATMs with Teller Assist will be installed in banking center, drive-up, and remote locations and teller-assisted transactions will be accessible during extended hours: 7 a.m. – 10 p.m. local time on weekdays and 8 a.m. – 5 p.m. local time on Saturdays and Sundays, excluding holidays. Consumers also have the option to make a transaction as they would with any standard ATM 24/7.

Initially available in April at a Bank of America banking center in Boston, ATMs with Teller Assist will continue to roll out to banking centers in select U.S. markets throughout 2013.

“Many Bank of America customers appreciate the self-service option of the ATM, but may require more personal help or have a question for a teller,” said Shelley Waite, ATM channel executive at Bank of America. “The ATM with Teller Assist is the best of both worlds and is the latest way Bank of America is meeting customers’ needs in a way that works best for them.”

Banking center tellers will still be available for customers who choose to conduct their banking transactions in person.

Bank of America

Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses, institutional investors, large corporations and governments with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 53 million consumer and small business relationships with approximately 5,500 retail banking offices and approximately 16,300 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

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Source: Company press release.