Donald Wetzel, the man who devised the first U.S. cash dispenser, says automated tellers will always exist — even as they evolve beyond their initial purpose.
A pastor who was falsely arrested for check fraud because of errors made by Wells Fargo employees may be forced to resolve legal claims against the bank in arbitration. The case renews questions about banks' use of the process.
Most agencies use electronic benefit transfer to deliver funds to prepaid cards, but recipients who need access to cash are often caught in a bind, with fewer convenient or free ATMs available in an increasingly digital payments landscape.
The ATM manufacturer has added mobile banking integration, document signing, biometric authentication, video banking and a cash recycler to its DN series.
A Wells Fargo customer was interrogated, fingerprinted and mistakenly arrested for check forgery after a series of mistakes on the bank's part. He was cleared, and Wells says it made an error, but they are now fighting in civil court.
In the wake of the economic crisis, Paul Volcker called automated teller machines the last financial innovation that improved society. A decade later, their popularity is slipping.
As part of the continuing rebuilding effort in Puerto Rico after Hurricane Maria, Banco Popular's nonprofit foundation has several startups working out of its main location in San Juan. For Camille Burckhart, it is part of a mission to help the island get back to normal.
