News

New NCR ATM has advanced deposit capabilities

February 26, 2002

DAYTON, Ohio -- NCR has introduced the Personal Cash Deposit ATM, which can instantaneously scan bunched cash deposits in multiple currencies and denominations.

As customers deposit the cash, the ATM automatically counts, verifies, and records the transaction. NCR wanted to address consumer frustrations about traditional envelope deposits that must be verified
by two individuals at the bank, and alleviate the added costs incurred by banks to pay for dual verification.

"Around 60 per cent of teller transactions involve deposits, so this is a logical step for banks that want ATMs to handle a larger share of the daily business," said Danny O'Brien, NCR's vice president for self service.

Among the ATM's features: the ability to process bunches of up to 30 notes and recognize up to 50 mixed denominations or multiple currencies; the ability to detect forgeries using multi-sensor note recognition; and a non-jamming feature.

The Personal Cash Deposit ATM has been running at a Singapore bank since January 1999. Additional units will be rolled out in Shanghai and Hong Kong during the first quarter of this year, and trials are also planned in Spain and Argentina.