I spent my 20s mismanaging my money, and came to regret all of those impulse purchases placed on credit cards when my credit score plummeted due to missing a few payments. I didn't learn how much this would affect my life until I was denied for both an auto loan and mortgage in the same year due to my bad credit score. I spent the next few years cleaning up my credit report and putting every extra penny I had toward old debts. Having to put my impulse spending on halt was difficult at first, but it was a great learning experience and I now realize how rewarding saving and investing money really can be. I have put a lot of research into good money management techniques, so I decided to start a blog to share what I have learned with anyone who needs help!
Almost everyone is familiar with and has used an automatic teller machine (ATM) at their bank or a stand alone location. While ATMs make withdrawing and depositing money easier, many banks are now turning to video teller machines (VTMs) to offer additional services for customers while also reducing costs. There are several benefits to VTNs and video banking in general, such as the following:
Lower Costs for Bank Branches
Within the coming years, standing in line inside a bank branch and waiting to talk to a teller may be a thing of the past. VTMs look and function a lot like ATMs, but the big difference is the fact that they have the ability to remotely connect a customer to a bank teller through video. Banks that utilize VTMs can save money because each branch will not need to be staffed with as many employees; instead, a lot of the customer service will be provided via video from a central location by agents who are trained to answer questions and help with transactions.
No Card or Pin Number Needed
When a customer is using a VTM, it won't matter if he or she has their debit card or can remember his or her pin. Since a person can connect directly to a bank teller via video, withdrawals or deposits can be made without a card or pin after the customer verifies his or her identity. This helps ensure that a customer can access funds at any time of day and any day of the week, even if his or her debit card is lost or stolen.
Wide Range of Services Around the Clock
VTMs will allow banks to offer a number of services to their customers outside of traditional banking hours. Customers who need assistance can go to a VTM and connect with a remote teller to get assistance with ordering a new debit card, changing their address, or getting answers to questions about their account. Since remote tellers will be able to interact with customers who don't often visit bank branches, the banks will also have the opportunity to offer new services and upsell on existing accounts and services.
Improved Withdrawal Options
Many ATMs are stocked with $20 bills, so customers are forced to make withdrawals in multiples of 20. When a customer uses a VTM, he or she will be able to interact with the remote teller in order to withdraw a customized amount. For example, a customer could use a VTM to cash a check and receive the exact value of the check in cash with the help of the remote teller.Share
29 January 2018