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 time for your bank employees and maximizing profitability for your branch.
The Cassette is Key
The piece of physical technology that makes the recycler ATM work is a cash cassette that is capable of both receiving and dispensing bills. Standard ATM cassettes are only capable of receiving deposits. While there are additional cash recycler machine features that you can take advantage of, the main difference is that cash recycling cassettes add valuable functionality to your ATMs.
Cash cassettes from Hyosung Innovue’s recycling ATMs are compatible with the cassettes from teller cash recycling machines (TCRs). This means that in a branch setting, you can quickly refill an ATM, or a teller’s drawer, without making a trip 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 allow you to monitor the health and status of your ATMs both in the branch and in the field.
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 Innovue, the process is actually quite simple. With tens of thousands of ATMs deployed throughout North America, we have the experience and knowhow your FI or business needs.
Whether you’re upgrading a fleet of older ATMs placed in stores and strategic tourist areas, or transforming your 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.