Handling cash is a big part of the retail banking industry. From service industry workers who deposit cash tips after a long week on the job, to businesses who often deposit thousands of dollars of cash multiple times a week, your tellers spend much of their day handling money.
Modern ATMs can accept cash deposits, too, though customers mostly use them for withdrawals.
At Hyosung America, we’ve developed hardware technology that makes the process of accepting cash, distributing cash, and keeping your branch’s ATMs stocked, streamlined, simple, and efficient. Cash recyclers are the key component to this equation. They take the labor out of counting and separating bills, decrease the need for cash handling, and can help your bank run smoothly from open to close.
A teller cash recycler (TCR) machine is a unit that bank tellers use to quickly count incoming cash. These units are available in a range of different designs, from standard models to high-capacity or ultra-quick machines. Usually, you'll find them behind the teller's glass, though they are also popular with companies that do a large part of their business in cash.
The teller simply inserts a stack of bills, and they are counted, separated by denomination, and stored in cash cassettes within the machine’s secure safe area. Using the latest software, the TCR sends updated information on balances, cash on hand, and denomination selection to your FI’s core software.
When a customer wants to withdraw cash, the recycler can dispense bills right from its own storage cassettes. This is where the “recycling” comes into play.
Similar to a TCR machine, a cash recycling ATM can accept and sort bills of different denominations. Unlike standard ATMs, they can dispense cash from the same cassettes. This means they don't need to be refilled with cash as often as conventional non-recycling designs.
Low maintenance, highly secure, and able to communicate with your network in real-time, recycling ATMs are becoming more and more popular in both bank branches and in remote settings.
ATM and teller cash recycler machine solutions both rely on the latest cash cassettes to function. These state-of-the-art designs are unique in that they are engineered to both accept and dispense bills. An added bonus is that cash cassette cartridges from Hyosung America are compatible across machines. This means your tellers can refill an ATM from their TCR machine (or vice versa), which saves a time-consuming trip to the vault and limits your ATM’s downtime.
Cash recycling is one of the newest major advancements in ATM and banking hardware technology, and few companies have as much experience deploying and maintaining these machines as Hyosung America.
With tens of thousands of cash recyclers and recycling ATMs currently in use across North America, our hardware and software solutions are helping FIs transform their branches, save on labor costs, and provide a modern customer experience from coast to coast. If you’re interested in upgrading to ATMs and TCRs from Hyosung America, please contact us today.