If you want your business or FI to run at maximum efficiency, it’s important to understand the benefits of different types of teller cash machines and ATM machines. Here’s a brief explainer about the differences between cash dispensers and cash recyclers when it comes to both teller-run machines and ATMs. We’ll start with machines designed for teller use.
Teller cash dispensers (TCDs) and teller cash recyclers (TCRs) serve the same primary mission: they make it easy to put cash in your customer’s hands. With dispensers, an employee has to load in cash manually whenever the machine is low. A cash recycler has the ability to scan and sort incoming bills, thus replenishing itself with every cash deposit. Of course, recyclers can still be manually reloaded when they run low cash.
Figuring out which machine is best for your needs really comes down to the type of transactions your customers are routinely performing. Both TCRs and TCDs can greatly improve employee efficiency and decrease customer wait times.
ATM cash dispensers and recycling ATMs work in basically the same way as the teller machines described above, though they’re designed to be operated by the general public. Cash dispensers have been around for decades and thus dominate the market at the moment, but newer cash recyclers are becoming more and more popular.
Reducing cash handling expenses saves operators a lot of money in the long run and helps reduce transaction-costing downtime. Of course, recyclers operate at maximum efficiency in an environment where transactions are roughly 50% deposits and 50% withdrawals. Highly cash-negative settings (like ATMs near a popular tourist spot), might be better suited for cash dispensers, which can be purchased at a lower price point and offer a larger note capacity.
As banking technology continues to improve, and cash becomes less of a necessity, many FIs have embraced the evolving role of brick and mortar branch location. Transforming your branch into a sleek, modern, efficient destination will help keep customers coming through the doors, even if a lot of their banking can be done online. New hardware is proving to be a central part of the branch transformation process. Of course, there are other things to think about when you’re deciding whether to upgrade or expand with the latest cash recycling machines or tried and true cash dispensers, but knowing the main differences between the two is an important first step.
If you have any additional questions about the latest TCRs, TCDs, and ATMs, contact Hyosung America today. With tens of thousands of machines deployed in banks, standalone sites, retail centers, and shops across the globe, we have the experience to help you maximize your company’s potential.