When April 8 comes around, it seems that many ATM machines around the world would run into a particular problem, so much so that it might be a whole lot more difficult to handle compared to the relatively peaceful Y2K experience that we had 14 years ago. After all, most of the ATM machines worldwide still run on Windows XP, the operating system from Microsoft that will no longer be supported by Microsoft themselves from that date onward.
One-dollar bills. Envelope-free deposits. Stamp dispensers. These are a few of the features that Wells Fargo (WFC), Bank of America (BAC), JPMorgan Chase (JPM), and other banks tout as the latest and greatest features of their fleets of ATMs. It’s hardly stuff to set the heart racing. When ATMs were introduced more than 40 years ago, they were considered advanced technology. Today, not so much. There are 420,000 ATMs in the U.S., and on April 8, a deadline looms for nearly all of them that underscores how sluggishly the nation’s cash delivery system moves forward.
