The gamecock. (Columbia, S.C.) 1908-2006, September 12, 1980, Page Page 7, Image 7
Automatic
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By John Vaughan
Staff Writer
Conventional banking has become a thing
of the past for many students as the Money
Express and Financial Wizard automatic
teller machines gain popularity.
Michael Wiley of First National Bank's
marketing department said the Money
Express automatic tellers at the Russell
House and on Sumter Street have a large
and constant transaction rate because of
their location.
"Both ATMs (automtatic teller
machines) were introduced about a year
ago," he said, "but the more customers we
already have in an area, the quicker we're
going to get a heavy rate." Wiley said both
machines are used predominantly by USC
students, but "at the Sumter Street Money
Express there is a greater mix of customers
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and such."
Wiley said the machines are used most
often for making deposits, checking
balances and withdrawing cash. The
average withdrawal is $15 to $20.
"There is usually twice as much deposited
monthly as withdrawn. The ratio is just
about 2-to-l," said Wiley.
Harold Tarr of Citizens & Southern
Bank's marketing department agreed with
the 2-to-l estimate. C&S was two years
ahead of Money Express with their
Financial Wizard system, Tarr said, adding
that C&S is the only South Carolina bank
with a telephone-banking service.
Some students aren't as pleased with the
machines as the banks seem to be.
When David Farrell, a sophomore geology
major, became a First National customer
last year, the Money Express machine
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A banker uses a Money Express machh
attracting many students at (JSC.
malfunctioned almost every week, he said.
One Friday, Farrell said, he was to leave in
15 minutes for a trip to the beach. He ran to
Russell House to withdraw some money.
The machine was being repaired, so he went
to the Sumter Street machine. The line
extended to the sidewalk. Now, he says, he
has been waiting since school started for his
new password to be issued.
Scott Bagnal, a sophomore English major
agrees with Farrell. "I had the machine eat
my card last year, and it took eight weeks to
get a card reissued," he said.
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wuey ueienueu uie r irsi iNauunai system
as convenient and basically reliable. "There
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le to get instant cash. The machines are
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checking and the savings account and are
trying to manage their money on that
basis," he said.
Wiley said the statewide system can save
lime ana soive prooiems. s say a
student now at USC has a checking account
signed with his father in Bennettsville. He
calls up his father because book costs took
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go to an ATM in Bennettsville, punch in a
deposit, and the student can go the same
evening to the Money Express in Columbia
and withdraw if he needs it," Wiley said.
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