If you’ve visited a bank recently, you may have seen a new kind of machine next to or replacing traditional ATMs—an ITM, or Interactive Teller Machine. While both ATMs and ITMs help you handle your banking needs, ITMs offer a more advanced and personalized experience.
So, what exactly is an ITM, and how does it differ from an ATM? Let’s break it down.
Read About:
- What Is an ITM?
- What Is an ATM?
- Key Differences Between ITMs and ATMs
- Why ITMs are Changing the Banking Experience
- Which One Should You Use?
- Final Thoughts
What Is an ITM (Interactive Teller Machine)?
An ITM (Interactive Teller Machine) is a modern banking machine that allows customers to interact with a live teller via video chat. ITMs combine the convenience of an ATM with the personal service of a bank teller, making banking easier and more accessible.
With an ITM, you can complete a variety of transactions that typically require a teller, including:
- Deposits and withdrawals (with higher limits than an ATM)
- Check cashing (including exact change)
- Loan payments
- Transfers between accounts
- Balance inquiries
- Opening new accounts or updating account details
ITMs are usually available beyond regular banking hours, providing more flexibility for customers who need assistance outside of traditional branch hours.
What Is an ATM (Automated Teller Machine)?
An ATM (Automated Teller Machine) is a self-service banking machine that allows customers to complete basic financial transactions without the need for a human teller. ATMs are widely available and can be used 24/7 for tasks such as:
- Withdrawing cash
- Checking account balances
- Depositing checks or cash (depending on the ATM)
- Transferring funds between accounts
While ATMs are convenient, they have limitations. They can’t handle more complex transactions like cashing checks for exact amounts, verifying IDs, or providing assistance with account-related questions.
Key Differences Between an ITM and an ATM
| Feature | ITM (Interactive Teller Machine) | ATM (Automated Teller Machine) |
|---|---|---|
| Live Teller Assistance | Yes – via video chat | No |
| Deposits & Withdrawals | Yes – with options and check cashing | Yes – with standard limits |
| Loan & Bill Payments | Yes | No |
| Extended Banking Hours | Often available beyond lobby hours | Available 24/7 |
| Transfers Between Accounts | Yes | Yes |
| ID Verification for Transactions | Yes | No |
| Account Support & Questions | Yes – real-time teller assistance | No |
Why ITMs Are Changing the Banking Experience
ITMs are growing in popularity because they provide a bridge between traditional banking and digital convenience. Customers get the benefit of face-to-face service without having to enter a branch. This is especially helpful for those who:
- Allows banking back in rural communities
- Prefer human interaction but don’t want to wait in line at the bank
- Need teller assistance outside of standard banking hours
- Want to complete more advanced transactions that an ATM can’t handle
Additionally, banks like Ergo Bank use ITMs to make banking more accessible in locations where a full-service branch may not be available.
Which One Should You Use—ITM or ATM?
The answer depends on what you need.
- If you just need quick cash or to check your balance, an ATM is the fastest option.
- If you want personal assistance with transactions like check cashing, loan payments, or account support, an ITM is the better choice.
Experience the Convenience of ITMs at Ergo Bank
At Ergo Bank, we’re committed to making banking easier for our customers. Our ITMs give you access to live teller support with the flexibility of self-service banking. Whether you need to cash a check, transfer funds, or ask a question about your account, our ITMs provide the service you need—when you need it.
Visit one of our ITM locations today and experience the next level of banking convenience.
Final Thoughts
ITMs are revolutionizing the way we bank by combining technology with personalized service. While ATMs remain useful for quick transactions, ITMs offer a more interactive and flexible banking experience. If you haven’t tried one yet, stop by Ergo Bank and see how easy banking can be! Our ITMs have extended hours of 7:00 AM to 7:00 PM Monday through Friday and 7:00 AM to 12:00 PM on Saturdays!
Would you like to learn more about our ITM locations and how they work? Contact us today!