New NCR ATMs in Switzerland

What is your opinion on the new ATMs from NCR which are now used by the Luzerner Kantonalbank? What real advantages do these ATMs bring?

Hi there,

The new automated teller machines (ATMs) from U.S. corporation NCR which are being adopted by some Swiss banks deliver several new features which are not found on older ATMs.

For one thing, they include a touchscreen which provides similar touch functionality to that found on smartphones and tablets.

The ATMs also provide the technology necessary to open bank accounts or access other banking products directly through the ATM. Banks are interested in the technology because it may eliminate the need for branch offices and employees over the longer term.

More complex tasks like creating mortgage agreements, on the other hand, cannot be performed by these ATMs.

The type of ATM used does not affect the cost of cash withdrawals. The fees which you pay to withdraw money at ATMs are determined by the following factors:

1. The bank which operates the ATM. Swiss banks generally charge fees when you withdraw money from the same bank which operates the ATM using a debit card from that bank. Many banks charge an out-of-network fee when you use an ATM operated by a different bank.

2. The card you use. When you use a debit card or an ATM card issued by the same bank which operates the ATM to to withdraw money from that bank, you do not normally pay a fee. When you use a credit card to withdraw money from any ATM, you pay a high cash advance fee. This applies even if you use an ATM from the same bank which issues the credit card. Credit cards which can be linked to private accounts via direct debit are an exception to this rule.

Best regards from Moneyguru

More on this topic:
Swiss bank bundle comparison
Swiss private account comparison
Swiss savings account comparison
Credit card vs. debit card