Banco Popular launches ATM check image deposit service
Banco Popular announced the launching of its “Depósito Fácil” (“Easy Deposit”) service, through which clients have the option to deposit checks at select ATM machines without having to use an envelope or fill out a deposit slip. The financial institution is now the first on the island to offer this service at seven high-traffic ATM locations.
The check image deposit process is just as simple as conducting any other ATM transaction, bank officials said. Customers must punch in their personal identification number and select “get receipt,” followed by the “deposit check” option. The check is then inserted and the deposit amount is validated.
Through the free service, customers will get a receipt with an image of the deposited check, as evidence of the transaction.
“We’re always working to provide innovation and accessibility to our customers that allows them make better use of their time,” said Miguel Páez, senior vice president of retail banking at Banco Popular. “Easy Deposit joins the variety of tools that Popular customers have.”
Initially, the service is available at ATM’s located in high-traffic branches, namely, Altamira, Plaza Las Américas, Las Catalinas, Plaza del Sol, Plaza Carolina, Guayama Mall and Palma Real en Humacao. Eventually, the bank will continue to add that and other services in more ATMs around the island.
Checks are an increasingly outmoded instrument. Instead of wasting money on hardware (100s of ATM terminals) they should have embraced the smartphone/deposit-by-picture paradigm. BPPR is consistently behind the times.
Vaughn, but at least they are much more ahead than any other bank on the island! I agree that they are behind the times, but each step they move forward, others will follow suit. I’ve managed to live in PR for 8 months without having to close my Citi account in NY because of the phone deposit service. I love it! But, I must note that the ignoramus mindset of the typical Puerto Rican (I am PRincan and have no problem insulting my own) will think that this is another way to rob you, when in fact its safer than envelope deposits. At least I think so…