New generation ATMs are coming to solve cash shortages: Withdrawal and deposit processes are changing

Banks have pressed the button to solve the cash shortage experienced at ATMs. With new generation "recycling ATMs," withdrawal and deposit processes will speed up in a single compartment. These devices, which will offer a solution to the increasing need for cash, are preparing to create a revolution in the banking sector. Here are the details…

Due to cash shortages in the banking sector, new generation ATMs will be put into service.

Banks, wanting to speed up withdrawal and deposit processes, aim to provide fast and uninterrupted service to customers with new generation ATMs.

RECYCLING ATMS ARE REPLACING TRADITIONAL ATMS

According to Sputnik, there are separate compartments for withdrawals and deposits in current ATMs. This situation prevents deposited money from being immediately available for withdrawal, leading to disruptions in cash flow. However, thanks to the new generation ATMs, deposited money will instantly become visible in the system and can be withdrawn by other customers.

Work for this transformation has begun in many cities, primarily in Istanbul, Ankara, and Izmir. Banks plan to install the new devices, especially at high-traffic ATM locations.

INNOVATIVE SOLUTION FOR THE CASH CRISIS

High inflation and the increasing need for money in Turkey have strained the capacity of banks to ensure cash circulation in ATMs. With the Central Bank of the Republic of Turkey (TCMB) postponing the decision to print new banknotes, banks have found the solution in turning to technology.

The new devices will make the cash flow of ATMs more sustainable by ensuring that deposited money can be used by other customers. In this way, problems such as customers leaving empty-handed will also decrease.

DAILY CAPACITY PROBLEM IN ATMS

There are 53 thousand 566 ATMs across Turkey. An average ATM has a capacity of approximately 15 thousand 200 banknotes. However, this capacity remains insufficient to meet the increasing prices and cash needs.

Although there has been an 11 percent increase in the number of ATMs between 2015 and 2024, the decrease in the purchasing power of 200 TL banknotes has caused ATMs to require more frequent refilling. Today, even when all ATMs are filled to full capacity, they can only carry 122 billion TL in cash.

500 AND 1,000 TL BANKNOTES ON THE AGENDA

The 500 TL and 1,000 TL banknotes, frequently brought to the agenda by economists, are proposed as a solution to the cash crisis arising due to high inflation. However, the TCMB has not yet taken a step in this regard.

SAVINGS TARGET IN THE BANKING SECTOR

Banks also aim to reduce their operational costs with new generation ATMs. Banks, which have increased their number of personnel due to the need for cash rising with inflation, plan to provide service with fewer employees in the long term with this transformation.

WILL SPREAD ACROSS ALL OF TURKEY

The new generation ATMs are planned to be spread to all 81 provinces. The goal of the banks is to solve the cash shortage and prevent customers from leaving ATMs empty-handed. This change to be made also shows that the modernization process in the banking sector is accelerating.