Can Wells Fargo ATM DONATE button be replicated at our ATMs

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Can Wells Fargo ATM DONATE button be replicated at our ATMs

The trigger for this post is this below LinkedIn Post : 

          Ease of convenience will zoom up Micro Donations. The more easier and safer the donation process is, the more micro donations can go up.

          New donation channels can be explored within the existing technologies to encourage microdonations.

          One such channel can be the DONATE button at ATMs.

          This is not a new technology; this is popular at Wells Fargo ATMs.

          Wells Fargo has its own inhouse ATM software. This enables Wells Fargo to offer customised solutions for its account holders at its ATMS.

          The ‘donate’, option is offered only to its own account holders. This means ON US ATM transactions.

          The ‘donate’, option is not offered to other bank account holders. If other bank account holders wish to use the ‘donate’ option at Wells Fargo ATM, they have to open an account with Wells Fargo.

 

          Majority of the ATMs in country are linked via National Financial Switch @ https://www.npci.org.in/what-we-do/nfs/product-overview

 

Benefits 01) A safe option for micro donations

Benefits 02) The rollout can be done at a minimal time frame

Benefits 03) In case of non-positive feedback, the program can be rolled back

Benefits 04) Low cost of donation administrative cost

Benefits 05) Encourage on the fly donations

Benefits 06) NGOs can run special campaigns around the DONATE option at ATMs

Benefits 07) This can be replicated at Micro ATMs too, with lesser limits.

 

 

 

Safeguards:

01)  Only ON US ATMs

02) Upper Limit

03) Maximum 2 Beneficiaries can be enabled at respective Bank ATMs

04) Maximum Donate Transactions per month

 

 

Quote

Wells Fargo & Company is an American multinational financial services company with corporate headquarters in San Francisco, California; operational headquarters in Manhattan; and managerial offices throughout the United States and internationally.

The company has operations in 35 countries with over 70 million customers globally.

It is considered a systemically important financial institution by the Financial Stability Board.

The firm's primary subsidiary is Wells Fargo Bank, N.A., a national bank chartered in Wilmington, Delaware, which designates its main office in Sioux Falls, South Dakota.

 

It is the fourth largest bank in the United States by total assets and is also one of the largest as ranked by bank deposits and market capitalization.

 

Along with JPMorgan Chase, Bank of America and Citigroup. Wells Fargo is one of the "Big Four Banks" of the United States.

 

It has 8,050 branches and 13,000 ATMs. It is one of the most valuable bank brands.

 

Unquote

 

Additional Reading:

Wells Fargo lets customers donate at ATMs dt.Mar 24, 2011 @ https://www.victoriaadvocate.com/news/nation/wells-fargo-lets-customers-donate-at-atms/article_ff487361-91b7-5109-b445-d6e9c81d4bdb.html

Wells Fargo Raises More Than $1 Million From ATM Customers for Japan Relief Efforts @ https://philanthropynewsdigest.org/news/wells-fargo-raises-more-than-1-million-from-atm-customers-for-japan-relief-efforts

Digital disaster relief: Banking technology helps communities recover dt.September 26, 2017 @ https://stories.wf.com/digital-disaster-relief-banking-technology-helps-communities-recover/

 

The copyrights if any, belong to the original copyright owners only.

Disclaimer: These are my personal views only. The bottom line is Safe ePayments. Nothing More – Nothing Less.

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