An ITM is essentially banking in a box.
One of the most convenient features of an Interactive Teller Machine (ITM) is the ability to call for assistance from a live teller. Not a machine or artificial intelligence, the teller is a real person who is ready to help you with all your banking needs. This feature is only available during business hours, so don’t expect to have any late-night chats with your local teller. But if you visit during the available hours, a live teller can video chat with you to help you through your transaction or answer any questions about your accounts.
That’s not all ITMs can do. Like an ATM, ITMs let you deposit and withdraw cash, check account balances, and transfer money. You can also make loan or credit card payments and cash checks at an ITM, which you can’t do at an ATM.
ITMs give you the ability to do almost anything you’d do at the teller line and provide better service through features that ATMs have lacked for years. For example, ATMs are usually limited by set cash denominations with most distributing only $20 bills. With an ITM, you’re offered an assortment of denominations to choose from so if you want a $50 bill, or a bunch of $1s, you can select the quantity of each when you take out cash. This can come in handy, especially if you need smaller bills like $5s but don’t have time to run into the branch.
Today, more and more people are doing their banking while on the go. This is where ITMs fit in for those of us living a busy lifestyle. If you’re in a rush, ITMs can sometimes be a quicker alternative to waiting in line at the bank or credit union. If there’s a long line to get to the tellers, just look for the ITM and do your transactions there. Many financial institutions also offer drive-up ITMs, which allows you to use the ITM from the comfort of your vehicle.
With all these features, the ITM truly is banking in a box. An ITM allows you to bank your way, offering the perfect blend of self-service banking and in-person assistance.
