21st century banking: envelope-free ATMs


No deposit envelope? No problem for the next generation of ATMs, already installed in a smattering of banks in the U.S. The bareback ATM will allow you to insert checks or cash sans envelope. It then scans and reads the checks, counts the cash, and spits out a receipt with a pic of the check and/or inventory of the cash.

Look for the tech, currently used by BOA, Chase and Well Fargo, to replace current ATMs over the next few years.

Call me paranoid, but doesn't this bear a spooky similarity to a slot machine? Do you suppose that, in the next incarnation of the ATM, we'll be offered the chance to go double or nothing on our deposit? Naw, surely not. Except in Vegas, of course.

A tip of the tam to Money Magazine