Regulatory Alerts1998-03-24
Ownership of Automated Teller Machines
The Pennsylvania Department of Banking clarifies that non-banking entities may own and operate ATMs providing only cash dispensing functions. However, ATMs performing deposit-taking activities must be owned and operated by authorized Pennsylvania financial institutions under Section 105(a) of the Banking Code. While the owner may lease such deposit-taking ATMs to licensed operators, the Department warns that this position is based on specific facts and may be reversed if conditions change.
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