The new automatic ATM cash deposit service enables the immediate availability of funds in an account and allows banks to streamline their operations and thus improve their cost efficiency!
Bankart has successfully completed the development of support for automatic cash deposits at ATMs. The service facilitates cash deposits at ATMs, including banknote control (counterfeits, quality...), immediate posting to a card holder’s transaction account along with the immediate availability of funds that have been deposited.
Bankart has successfully completed the development and implementation of a solution for automatic ATM cash deposits, which allows a user to simply insert banknotes (in values of €10, €20, €50 and €100) in the slot and have the funds deposited via the ATM immediately available in their transaction accounts. When a deposit is made this way, the user immediately receives a slip confirming the deposit, raising confidence among users regarding the transaction so performed.
As far as banks are concerned, the introduction of automatic cash deposits enables them to streamline their operations and improve their cost efficiency, reducing the possibility of errors thanks to the automated process, and provides them with the functionality of excluding counterfeits and low-quality banknotes from cash circulation.
The previous technological solution supported the ATM cash deposit service (using deposit envelopes), but the user did not then have immediate access to the funds deposited in the account since the bank had to manually post them to the relevant account. On the other hand, the new service facilitates ATM cash deposits, including banknote control (counterfeits, quality...) and immediate posting to the card holder’s transaction account.
Abanka was the first to implement the solution at its ATMs. Today the solution offer also SKB and NLB. The service was also offered to other banks in Bankart's ATM Network. At the moment, only the clients of Abanka, SKB and NLB, holders of BA Maestro cards, can use this service at certain ATMs owned by the banks named before. A list of the locations of ATMs that support the automatic cash deposit service is available at www.bankomati.net; for further information about the new service contact banks, which offer automatic ATM cash deposits.