Start making more room in your wallet, because the latest ATMs give EXACT CHANGE. In other words, instead of just popping out $20 bills, new ATMs dispense tens, fives, and singles. And some new machines even have the capability of dispensing coins, too, down to the exact penny!
So far, Chase and PNC are the first two banks to offer the so-called “next-generation ATMs.” They’ve already installed hundreds across North America and they expect to install hundreds more by the end of the year. Experts say the new machines are designed to offer us more convenience, and possibly help us save money, too. How?
Let’s say you want to withdraw some cash to pay for dinner, but you’ve only got $19 dollars in your account. Some banks might let you withdraw $20 anyway – but then you’d trigger an overdraft fee. Or, if you couldn’t withdraw cash, you’d have to pay for dinner with a credit card - which might trigger interest charges.
But with the new ATMs, you can withdraw the exact amount of cash you need. Experts say that’s important in today’s economy. Because when times are tough, account balances tend to be lower, and not everyone can afford to only pay for things with $20 bills.