How is a cash recycling ATM different from a standard ATM machine? The short answer is that a cash recycling ATM is capable of dispensing customer-deposited bills, which means the ATM’s funds need to be replenished less often, saving you money on costly CIT visits, freeing up employees, and maximizing cash handling and security.
The Cassette is Key
The piece of physical technology that makes the recycling ATM work is a cash cassette that is capable of both receiving and dispensing those same bills. Standard ATM cassettes are only capable of receiving deposits. While there are additional cash recycling ATM features that you can take advantage of, the main difference is that cash recycling cassettes add valuable functionality to your ATMs.
In addition, to the aforementioned ability to re-dispense deposited notes, the cash cassettes from Hyosung TNS’ recycling ATMs are also compatible with our teller and retail cash recycling machines (TCRs & CRs). This means that in a branch or store setting, you can quickly and securely refill an ATM without opening a safe or making a visit to the vault.
Software Powers These Premium Machines
Like all of the latest hardware, the right software is needed to ensure cash recycling ATMs operate properly. Much like the physical cash cassette, the software on a recycler is capable of both adding and subtracting from the bill count. This sets it apart from standard function ATMs, which are only designed to dispense bills, and then be replenished by a technician. Updated software features can also allow you to monitor the health and status of your ATMs regardless of where they are installed.
In addition, enhanced software solutions can open up a new world of possibilities for both financial institutions and retail businesses. For financial institutions that invest in their recycling ATM fleet, software advancements just as core connection can allow for a richer set of banking transactions such as split deposits, check cashing, loan payments and more. For the retail recycling ATM deployers, cash-in transactions such as overseas remittance and bill pay become a reality in the retail space, allowing for increasing revenue opportunities and business growth.
Decreased Operational Costs
When it comes to the bottom line, the difference is clear; recycling ATMs have a lower operating cost than standard ATM designs. To the customer, the experience is exactly the same, though newer recycling ATMs may have more transaction options compared to older models.
After the initial investment to upgrade your hardware, your fleet will require less cash handling, which will save money on day-to-day operational expenses. The ability to recycle deposited cash also reduces downtime, since recycling ATMs don’t need to be replenished as often. This means you won’t lose as many transactions because your machine is out of service. Less cash handling, and less downtime, will help you maximize your network’s profits and keep your customers happy.
Work With an Industry Leader
Implementing the latest recycling ATMs and the corresponding software can seem daunting, but when you work with an industry-leader like Hyosung TNS, the process is actually quite simple. With hundreds of thousands of ATMs deployed throughout the world, we have the experience and know-how solver your FI or business cash needs.
Whether you’re upgrading a fleet of older ATMs placed in stores and strategic tourist areas, or transforming branches with cutting-edge banking tech, we can help. Contact us today for more information on the benefits of a cash recycler machine, software upgrades for ATMs, and other branch transformation strategies.
