News

Germany's Commerzbank to pilot cash recycling ATMs

July 14, 2004

BERLIN - The Commerzbank AG will roll out 100 Rondo 4cashcycle+ cash recycling systems from KEBA, beginning in autumn of 2004.

The terminals offer a "closed cash cycle," in which deposited banknotes are checked and placed in the cassettes. If the next customer initiates a cash withdrawal, the deposited banknotes are paid out again.

According to a news release, Rondo provides a storage capacity of up to 12,000 banknotes, which allows the bank to save costs for reduced banknote refilling or emptying.

According to the release, banknotes and coins can be paid into giro accounts or passbooks by customers at the  terminals. The combined cash-in/cash-out terminals also enable cash withdrawals from passbooks or larger amounts from the checking account.

The terminals provide a special function for business customers. In future daily cash receipts, banknotes and coins will be deposited at the cash-in terminal and directly booked in online. The Commerzbank can, therefore, replace its night deposit safe.