You may have heard about gold ATMs in Vegas and Bahrain, but now there is a foreign banknote ATM in Vancouver - very interesting! Its a new evolution in getting physical banknotes into the hands of people outside the national boundaries of the issuing country. To understand the real significance of this event, I advise everyone to read Friedrich von Hayek's classic essay "Choice in Currency - A Way to Stop Inflation." It may be downloaded at the IEA website here: http://www.iea.org.uk/publications/research/choice-in-currency-a-way-to-stop-inflation
My Hong Kong Dollar collection:
Source of Article: http://finance.cincinnati.com/gannett.theenquirer/news/read?GUID=19340131
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/29/11 -- BMO Bank of Montreal today announced BMO's new Oakridge Center branch in Vancouver, B.C. will be the first bank branch in Canada to offer a Foreign Exchange Currency (FX) ATM. The new service offers customers instant access to U.S. Dollars, British Pounds, Euros and Mexican Pesos.
"Among Canadians, British Columbians are frequent travellers abroad," said Jennifer Muench, Vice President, Vancouver District, BMO Bank of Montreal. "Partnering with Thomas Cook to offer this FX service will provide local residents this added banking convenience when planning a trip."
The newly relocated branch, now at 103 - 650 West 41st Avenue in the Oakridge Center, represents a $1 million investment into the community and offers customers a wide range of innovative banking tools and financial services. In addition to the FX ATM, the branch also features the "Virtual Advisor," a webcam video conferencing service that offers immediate access to additional BMO financial experts such as mortgage specialists and financial planners, and the 'Discovery Centre', a computer kiosk used to access Online Banking, financial tools and calculators, and view a demonstration of BMO MoneyLogic, an intuitive online tool designed to help consumers budget and save money.
"These innovative technologies are designed to make our customers' financial transactions easier and more convenient," said Terry Tan, Oakridge Branch Manager, BMO Bank of Montreal. "The new branch, located in one of Vancouver's most prestigious malls, includes a team of financial experts, cutting-edge service technology and extended banking hours that will provide this vibrant and diverse community with a great customer experience."
The state-of-the-art facility also offers two ATMs, access to commercial account and deposit services, a complimentary coin counter, and a Safestore Automated Vault which offers safety deposit boxes.
"To celebrate the opening of our new branch, we encourage new customers to open a Youth Account between August 29th and October 31st and receive a matching $25 deposit, courtesy of BMO," added Mr. Tan.