10
Thursday, January 26, 1978
University Daily Kansan
Bank machine fails to reduce checking losses, lines
By LINDA FINESTONE
Staff Writer
Despite good intentions, a new automatic banking machine outside the Kansas Union has failed to noticeably long lines inside at the Union checking service or the number of bad checks the service receives. Warring officials associate director of the union said yesterday.
Staff Photo by TIM ASHNER
Ferguson said problems with an increasing number of bad checks received by the Union was one of the main reasons the Union allowed two Lawrence banks to install the shared system, the "Zip Machine," on the main entrance at the south end of the Union.
The Zip Machine, which went into service Nov. 15, is an automatic teller machine that provides 24-hour banking service to customers of the First National Bank and the University State Bank who have Zip cards.
By inserting a plastic Zip card, similar to a credit card, into the machine, a customer can instantly pay a withdrawal, a deposit, a loan payment or a balance inquiry.
THE MACHINE will not allow a customer to overdraw his account.
Zip
Instant cash awaits Sandy Dubois, Oklahoma City, graduate student, after her button-pushing conversation with the automatic banking machine at the Kansas Union.
Ferguson said the Union now had about $8,500 outstanding in bad checks. That figure represents between 300 and 325 checks received since July 1, 1977.
During the past year or two, Ferguson said, the number of bad checks the Union pays to bankers is increasing.
centage of all checks cashed, has increased sharply.
"The problem is much worse. It's tripped," he said. "A year or two ago the figure
The Union check cashing service, located in the main lobby of the Union, cashes personal checks, money orders and travelers checks up to $25.
used to be $2,000-$3,000. That's what prompted us to try to relieve this."
FERGUSON SAID checks that exceed 25% from parents or relatives, the University, the state, the University of Kansas Endowment and payroll checks also be caached.
Burge said any check that bounced the first time it was sent to the bank was returned and processed a second time as a oraction.
A 10 cent handling charge is charged on each check cashed at the Union. Frank Burge, director of the Union, said this fee was used to cover administrative and operating costs and the cost of collections and processing on bad checks.
If the check bounced again, Burge said,
the Union notifies the writer of the check by mail and fined him $3. If the check is not made good after that, Burge said, the person is notified by certified return receipt mail and fined $8.
BESIDES BEING assessed by the bank for each check that has to be processed a second time. Burge said the expenditures of time and effort to clear bad checks were costly.
Ferguson said between $8,000 and $10,000 was collected during the year from the 10 percent donations.
However, he said that amount was only about half as much as it cost to operate the company.
Beware the dream in which all other dreams come true .
Fri. and Sat., Jan. 27 and 28
3:30, 7:00, and 9:30; $1.25 in Woodruff
Regents . . .
From page one
"I had just heard a couple days ago for the first time that I was on the list that was being considered, but to tell you the truth, I never been notified by anyone except the press.
"I hope I can contribute in some way, but I assure you it will be an educational process for a while until I understand things in more detail," O'Neil said.
HE SAID HIS knowledge of medicine would probably be his biggest asset to the
O'Neil's father, Ralph T. O'Neil, served on the board from 1931 to 1940.
"I hope to become very involved. I know my father was very enthusiastic about the position when he served and that the position takes a lot of time and interest," he
Although Chancellor Archie R. Dykes was out of town yesterday, Richard Vanden Ende, executive secretary for the University, said he had contacted Dykes and the chancellor had expressed his pleasure over the selections.
"The chancellor was exceptionally pleased with the selections and confidence that the Regents will continue to contribute to higher education in Kansas. Von Ende said."
THE COMMISSION on the Status of Women
WANTS YOU
Partially funded by Student Senate
to meet them for a Potuck dinner Friday, Jan. 27 at 5:30 in the Council Room at Watkins' Scholarship Hall. Hail a covered dish and plan to join uswards in attending the KU Women's basketball game
Thursday--ALL YOU CAN DRINK NIGHT! . . Fine live music
$3.00 guys
$2.00 gals (That's all you pay-no cover,
(that's all you pay-no cover, no entertainment charge)
Friday Saturday 9 p.m. to 12 a.m.
Next week . . . MILLIONAIRE AT MIDNIGHT
... And Great New Prices ...
POWERGLIDE
the folks at J. Watson's have lowered prices so you can have a great time for less than it would cost at any other nightspot in Lawrence!
Pitchers $1.70 Admission $1.50
Performance Arrangements by 9th & Iowa in the Hillcrest Shopping Center
NORTH
COUNTRY FROM
TALENT
Concerned Students for Higher Education get together
Sunday, Jan. 29, 7:30 p.m.
Big 8 Room-Kansas Union
★ all undergrads & grad students are welcome ★
3 major issues
★ Watson Library
★ Women's Athletics
Graduate Fee Waiver
For more info call 864-3715