Customers will be able to instruct their banks to pay municipal authorities, electric, gas, telecom companies, and others.
Supervisor of banks Yoav Lehman today authorized the banks to expand the use of Automated Teller Machines (ATM) by allowing customers to make payments to third parties. This is another step in the Bank of Israel's plans to make bank services easier to use and to allow customers to perform banking transactions after ordinary banking hours.
The Bank of Israel's banking supervision department stated that the new transactions via ATM will allow customers to instruct their banks to make payments to municipal authorities, the electric, gas and telecommunications companies, and others.
Up until now, payment orders could be given only at tellers’ windows or on-line.
These new transactions expand the range of banking services that customers may obtain via ATM: printouts of account statements and information, cash withdrawals (shekels and foreign currency), depositing of checks and cash, issue of deposit instructions, and ordering of checkbooks.
Published by Globes [online], Israel business news - www.globes.co.il - on Monday, September 12, 2005