The job of refilling ATMs with cash is getting easier.
Diebold is partnering with the $5.5 billion-asset Suncoast CU to test an ATM that reuses consumer-deposited cash for future withdrawals. Tampa, Fla.-based Suncoast is the first financial institution in the U.S. to test the technology.
Suncoast estimates that in its high-traffic locations, the ATMs will reduce weekly, and even twice weekly refilling, to once a quarter.
"This is definitely an impressive cost savings for us from having to use Brink's, or our staff, to refill our high-volume ATMs," said Dulcey Hordge, VP of document services.
Diebold's Opteva Flex Performance Series ATM is the machine with the recycling capability, and it would also increase ATM uptime, added Hordge.
The credit union plans to test the functionality soon with its Opteva Flex ATM that is located in the employee lounge. If the trial is successful, Hordge said the cash-recycling ATM will be rolled out to two member-facing ATMs.
"We want to start slowly, and then if all goes well deploy the capability to other ATMs in high-traffic locations." Hordge said the new machines will only be deployed at locations that receive a high amount of ATM usage.
Payments technology provider FIS is handling the design and implementation of the back-end processing required to facilitate full cash recycling.
Diebold's Opteva Flex Performance Series ATMs have a recycling capacity of up to 10,800 notes and accept deposits of up to 13,100 notes in a five-cassette configuration.
In March, Diebold deployed an ATM at Diebold Federal Credit Union in North Canton, Ohio, that operates without a card reader or PIN. The ATM relies solely on mobile authentication.