Someone please tell the clever folks at Chase that this whole no-envelope deposit thing is a stroke of genius.
Earlier this week I went to the Chase ATM across the street from Ai HQ to deposit a check. Pen in hand, I headed for the slips-and-envelopes counter. But the slots were all empty. Almost instantly, a Chase employee welcomed me to No-Envelope ATMs and led me through the process.
Here’s how it works:
- Start your transaction the usual way.
- Press Deposit, and instead of preparing an envelope, the ATM prompts you to insert your check in a new slot on the upper-left-hand corner of the machine.
- The ATM scans the check, then presents an image of it on screen. It simultaneously uses OCR to read the amount on the check, and asks for confirmation: “This check appears to be for $5.28. Is that correct?”
- Confirm the value and the deposit is finished.
- Ask for a receipt, and the printout now includes a miniature reprint of the check for your records.
This fulfills another piece of the theoretical promise that ATMs bring to banking: speed and simplicity. No more filling out forms; no more stuffing envelopes; no more needing to remember 12-digit account numbers or carry deposit slips. I already see the previous generation of ATMs as hopelessly obsolete.
A side note of praise, too, for Chase’s smooth rollout. The woman in the vestibule intercepted me before I could get confused, and walked me pleasantly through the deposit process without waiting for me to ask for help. She was fully briefed on the nuances of the upgrade and enjoyed the wow factor that came with it. Nice work all around.