Word: atm
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...consulate. This month B. of A. launched a money-transfer system called SafeSend, in which customers can use a phone or the Internet to transfer money into an escrow account. The recipient in Mexico--who would have been mailed a SafeSend card--can then access the account from any ATM. Remittances to Mexico topped $9 billion last year, and the banks hope to capture some of that business. Says Jeffrey Bierer, project manager for SafeSend: "In order for Bank of America to meet its goals, we need to be the bank of choice in the Hispanic community...
...through the Kim Dae Jung Peace Foundation. Even son No. 1, Kim Hong Il, has been the subject of influence-peddling scandals (he's never been charged). For a leader who promised to end Korea's culture of corruption, watching offspring turn the Blue House into an atm is debilitating. President Kim has offered five public apologies for his sons' antics and recently resigned from the ruling Millennium Democratic Party, which is praying the saga won't cloud December presidential elections. Koreans, though, are getting used to this. A son of former President Kim Young Sam was sentenced...
...ATM is the sort of machine that even a Luddite can love. You slide in a card, punch a few digits, and out spurts cash. It's so simple and elegant that--well, it's an affront to a dynamic capitalist society. And it's all about to change. Someday soon, when you just want to score five Andrew Jacksons so you can have dinner at that great little place that doesn't take Visa, you could find yourself in a very slow line behind people sending flowers to Mom or arguing over which seats to buy for the next...
...latest generation, ATMs are being wired to the World Wide Web. These machines can pay insurance premiums and utility bills, print cashier's checks and road maps, and sell everything from stocks to dvds. ATM users have bought tickets to a David Bowie concert in Iceland and soccer matches in Spain. Customers in Singapore can apply for a car title. In the U.S., Wells Fargo has installed 1,100 souped-up ATMs in 16 Western states that can show movie trailers and the msnbc news ticker, run streaming-video ads during transactions and spit out coupons before the customer...
...Anything you can do on the Internet, you can potentially do at an ATM," says Andy Orent, a senior executive at NCR, the maker of top-selling ATMs, which shipped more than 50,000 cash dispensers last year. Rival manufacturers Diebold and Fujitsu are also talking up Web-enabled machines. But all agree the ATM experience will be narrowly tailored to keep the line moving, limiting customers' choices to, say, a couple of flower arrangements or a short list of CDs. The new platforms can also restrict activities at certain times--for example, to prevent people from filling out loan...