Wells Fargo goes “paper free”

I stopped by the Wells Fargo ATM on Columbus and Broadway today and was extremely pleased to discover an awesome new feature; paperless deposits.

I’m not sure if all of Wells Fargo’s ATMs will be upgraded, or if they were even the first to do it, but I totally love this new feature and will make a mental note of the “paperless” machines as I find them in the city.

Typically, you use an envelope to deposit checks or cash. If the bank doesn’t have any envelopes, you can’t make a deposit in the atm. Sometimes the ATMs on Mission and 22nd run out of checks on a Saturday morning, meaning you can’t make any deposits at all until the bank opens again on Monday (assuming it isn’t a three day weekend).

With the new system, you simply deposit the bills or checks directly into the deposit slot. The machine then scans the bills and shows your total deposit. It can even read handwriting on checks! After you’ve deposited everything, the machine lets you choose whether or not to print a receipt. Another cool new feature is the ability to instantly print a scanned copy of all deposited checks onto your receipt.

Here is a good example of a company choosing to go “green” and ending up creating a superior product through those innovations. I can really relate to this since I’ve feel like I’ve made a career out of recycling things… What started off as a recycling project, ended up introducing me to new techniques of manufacturing and probably even a new group of consumers who only buy recycled products.

It’s great to see further proof that going green not only saves money and improves the company brand, but it also leads to creative problem solving and innovative customer service. Wells Fargo has also been encouraging their customers to make the switch to paperless billing statements. In fact, Wells Fargo is also having a special promotion where they are giving away $50,000 in cash prizes to customers who sign up for Electronic Statements.