The change follows a successful pilot program in the bank s New Orleans branches in 1999 which showed that the later cutoff time increased deposit activity at ATMs, Arnold says. Hibernia believes the attraction and flexibility of allowing later same-day credit for deposits will increase customers comfort with and use of ATM deposits. We believe that once customers make that first deposit at an ATM, they'll become much more comfortable with it, as we saw when the direct-deposit feature was first introduced, he says. ATM deposits give customers a receipt, similar to those from teller windows. The new technology and newly designed ATM deposit envelopes have eliminated the need for a separate deposit slip.
Customers can deposit cash, checks or a combination.
The normal industry check-clearing process applies to ATM deposits. All loans subject to normal credit qualifications.