Word: atm
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Dates: during 1980-1989
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...automated-teller machines used by most banks generally offer 24-hour customer service, but less often for free. According to the Bank Administration Institute, an industry trade group, by year's end 63% of banks with ATMs are likely to impose charges for the use of their money machines. Some charges are hefty: 75 cents per transaction at Chase Lincoln Bank in Rochester for using another bank's ATMs, or $1.50 at Pittsburgh's Mellon Bank for using a nationwide ATM system...
Such fees could backfire. Since instituting them four years ago, a number of Texas banks have seen a slowdown in the growth of ATM use. As a result, Dallas-based MCorp is dropping charges as of Sept. 1 for customers using its ATMs...
Automated bank-teller machines can be maddening devices, but there is one thing they supposedly do well: protect customers' accounts. Not always, apparently. Police are looking hard for Robert Post, 35, a Polish-born electronics expert and former ATM repairman who brags that he is something of a magician. According to the Secret Service, Post last year managed to make some $86,000 disappear from cash machines -- all from other people's bank accounts...
...signing up more and more home-banking customers. According to the American Bankers Association, it costs banks only from 35 cents to 50 cents to process each electronic payment, compared with from 50 cents to $1 for every paper check. Also, as the number of home bankers (and ATM users) increases, banks will require fewer tellers behind windows, enabling them to pare their payrolls. And greater efficiency can be designed into electronic banking systems. Today when a home banker tells his computer to pay his $50 medical bill, someone at the bank must fill out a paper check and mail...
...Bank officials readily acknowledge their leadership status, but the bank's continual effort to offer new services is symbolic of the intense competition in the Square Recently, new forms of savings accounts, foreign language services, and further expansion of the ATM network by Bay Bank have rivalled the expansion beginning at Coolidge Bank, the upcoming installation of ATMs at Freedom Federal, and Cambridge Trust's negotiations for up to four more ATM locations aroung Cambridge...