Hundreds of new ATMs capable of dispensing as little as $1 are popping up across the country.
That’s right, ATMs that churn out exact change to the dollar, allowing customers to withdraw denominations as low as $1 and $5.
So far, Chase leads the charge and has rolled out between 350 and 400 such ATMs over the past 18 months, and the count is expected to double by the end of the year. Customers can type in the withdrawal amount, opt for "custom denominations" and select how many bills of each denomination they want.
The new machines, located within branches or drive-thrus, even have the capability of dispensing coins, a service that will be piloted soon and eventually rolled out nationwide.
Chase executives call the machines "next generation ATMs or new teller platforms." Other services the ATMs provide include paying credit card bills and loading Chase prepaid cards with cash.
The question is will other banks get on board.