News

Desert bank to audit kiosks

April 21, 2004

PALM DESERT, CA--The Press-Enterprise reported that Palm Desert National Bank's electronic-banking subsidiary signed a deal to balance the books for ATM kiosks in 1,000 7-Eleven stores across the country. They will also provide money-tracking software for use in the Vcom kiosks.

"We provide a niche service, but we are very well-known, because there are not many other people doing what we do," said Don Jarecki, vice president of business development for Palm Desert National Bank.

The self-service Vcom kiosks give customers 24-hour access to check cashing services, along with the ability to buy money orders, transfer money, make phone calls, pay bills and purchase phone cards from the machines.

"They are much the same as a regular ATM, but with these, it is a little more involved, because they have many more products," Jarecki said by phone. "We make sure everything balances out and that all the funds are accounted for."

7-Eleven chose the bank because of their expertise and experience. "The complexity of dealing with multiple denominations of notes and coins, and the fact that there is cash insertion and disbursements means there are many movements for PDNB to track and many items for them to reconcile," said Margaret Chablis, a company spokeswoman for 7-Eleven Inc.