Wells Fargo & Co. of San Francisco has agreed to use automated teller machines from Diebold Inc. that permit people to deposit multiple checks simultaneously.
The North Canton, Ohio, ATM maker is expected to announce Monday that Wells is installing the machines with bulk-check deposit capabilities in California and Indiana.
The machines do not require envelopes for deposits and can accept up to 30 checks at once, inserted in any direction, including face down.
Wells has already installed 1,200 Diebold ATMs that can accept a single check without envelopes, using Diebold's Intelligent Depository Module. The new machines use a bulk deposit enhancement to the module.
Wells, which in 1993 became the first banking company to test Diebold's envelope-free ATMs, said it hopes the bulk deposit capability will prompt business customers to make deposits through the ATMs instead of tellers.
"We could have saved time and money deploying simpler devices that require customers to feed checks into the machine one at a time, but this solution is much faster, more reliable, and the technology does the work for the customer," Jonathan Velline, Wells' senior vice president for ATM banking, said in a Diebold press release.
