Wells Fargo is converting all deposit-taking
ATMs in its network to ‘Envelope-Free’.

From now on, customers who use the 12,000
machines across the US will no longer need to write on an envelope
or key-in a deposit amount.

Once cash and/or cheques are inserted, the
machine converts the paper cheques into digital images which appear
on the ATM screen and on the receipt.

The bank company said that cash deposits will
be made available for use immediately and cheques deposits made on
weekdays by 9pm are considered received on the same day.

This means that in many states the banking day
is extended for customers by several hours.

Alicia Moore, head of Wells Fargo ATM Banking,

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By GlobalData

“[The initiative] simplifies the process and
extends the banking day. The ATM does all the work. Our customers
are thrilled by how easy it is and welcome the chance to help us
reduce waste and save trees by depositing stacks of bills and
cheques directly into Wells Fargo’s ATM.”

Last year Wells Fargo was the first to begin
using the new generation of mixed deposit Envelope-Free ATMs, with
the ability to take cash and cheques at the same time.