NEW YORK (CBSNewYork)– Financial institutions are going high-tech. Soon your bank around the corner may have no tellers at all.
Customers would instead access a remote teller via video, CBS2’s Jennifer McLogan reported.
Banking is changing big time and CBS2 got a preview of the first financial institution in the New York area with absolutely no tellers on the premises.
“We are calling them ITMs… interactive teller machines and they are really video tellers. Live tellers are in a central location in Westbury,” Nassau Educators Federal Credit Union Vice President of Marketing Valerie Garguilo said.
Garguilo said the unique Bay Shore branch will have its grand opening September 29.
“This is our prototype. All our future branches will follow this model,” she said.
The high-tech remote teller validates customers’ IDs before doing any exchange by scanning government cards. And just as with a live human, cash can be dispersed in any denomination.
Consumers have mixed reactions.
“I don’t think I am on board with it.. I like human interaction,” Maria Fusco said.
“I am absolutely okay to adapt to the new technology,” Ankur Mignon said.
“It would be wonderful when it works, but when it doesn’t… what do you do?” James di Michele said.
Each teller-less branch will have five employees to guide customers and offer financial information, but the remote teller does more.
“Redemption slips, loan payments, car payments, transfers, we can do it all,” the virtual teller told McLogan. “If you are concerned someone is behind you I can go ahead and blank out the screen.”
Larger banks are trying new things with automated teller machines, by the end of the year cardless ATMs will connect with smartphones to disperse cash.
The future with interactive video teller machines is growing. The Credit Union plans to open three new branches a year.