Recently the first batch of 10 recycling ATMs from China have been installed and online for trial in Turkey which is one of the fastest growing ATM market in Euro. These recycling ATMs-H68N, made by GRG Banking in China with proprietary rights, are able to make deposited banknotes available again for cash dispensing after a successful validation. This technology is proven to reduce the costs and risks associated with cash replenishment and servicing. It is the first time for the retail banks in Turkey to introduce cash recycling technology. Citizens are excited and queues up to try this “new species” of self-service machine.
According to the Bank, the performance of the recycling ATMs on trial is very good. They complete average 327 transactions per day and have successfully broke the record of the highest transaction volume of the bank by handling 1,009 transactions for a single day during the testing period. The average transaction speed is 40s per transaction which is also much shorter, comparing to a speed of 70s per transaction of the competitor’s recycling ATM. Moreover, the ATMs also perform very well in note validation by rejecting most of the unfit notes while one of the main competitor’s ATM accepted most of the unfit notes.
The cash recycling ATMs have become very common in Japan, China, Korea and other parts of Asia in recent years. But it is not the case in Europe and America. However the demand for cash recycling ATMs has also been increasing in these regions and it is expected that the replacement process will accelerate.