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One of the biggest banks in America is making its ATMs smarter.
Wells Fargo is unveiling a redesigned ATM interface that will track your transaction history to offer a personalized experience when you swipe your debit card at one of the bank's machines. While the interface is currently available at a few hundred of the bank's machines, it will be on all of the 12,000-plus Wells Fargo ATMs by May.
Rather than a traditional ATM screen that asks what you want to do, Wells Fargo will use your frequent banking activities to predict your needs. If you typically make $60 withdrawals from your joint checking account, that will be one of your primary options. If you normally make deposits to your savings account, that will be one of your primary options, too.
"The ATMs really know you better," says Alicia Moore, head of Wells Fargo ATM Banking.
With more knowledge comes more speed, and it seems like the interface will knock off some of the waiting time at a cash machine.
In addition to saving time, the interface comes with a tool designed to help account holders manage their money more effectively. With the ability to set a monthly withdrawal target, you can preprogram how much you're hoping to take out of your account in any given month. The bank's ATM Cash Tracker feature will keep you updated on whether you're adhering to your cash withdrawal limits.
On a note unrelated to budgeting your money, Wells Fargo also displays a "Happy Birthday" message for account holders who decide to celebrate their big days by making trips to the ATM. (If only the message featured the bank's CEO singing to account holders, that ATM trip could be a real party.)
What do you think of the new ATM interface? Have you seen other banks offering any kind of personalization on ATMs?
Sarun Chandana
PNC has been doing this for a while. It lets you set your language preference and a "fast cash" amount you can select after entering your PIN (instead of going to the main menu). It works for non-PNC ATM cards as well.