Cash Recyclers Are The Right Tool In Texas

 

FirstCapital Bank Of Texas - Cash Recyclers Are The Right Tool In Texas 

George Reeves - Chief Operating Officer - FirstCapital Bank of Texas:  "My name is George Reeves and I am with FirstCapital Bank of Texas. Our bank is a community bank, headquartered in Midland, Texas, with branches in Midland, Lubbock, and Amarillo, Texas. About four years ago, we had an interest and begin looking at interactive teller technology. We felt like we could blend the interactive teller strategy and our commercial teller strategy to use recyclers. We have a lot commercial customers - grocery stores, check-cashing places, things like that - and then, our retail base, we were kind of wanting to put those transactions on our interactive teller platform.

We were excited about our new interactive teller technology, so we had a convenience store owner that brought in his deposit, and they took him over to the ITM the first day we opened in downtown Midland and he began making his deposit on that machine. After about 40 minutes, he was a little frustrated because he had $5,000 worth of ones, and to feed those through an ITM takes a long time; he had a big stack of cash. So, we quickly learned that you got to tell them what your expectations are, and those are the transactions you want to handle on the recycler, not in an interactive teller machine.

There are several things with the recycler that I think are really good. You can focus on the customer; the recyclers are fast, they're more efficient, and they're accurate. It took us a little bit of time to get our tellers to where they would accept the fact that they didn't need to recount that cash. I made it a point when I was at a new install to make sure that teller did not recount that cash back to the customer, that it came out, they handed it to the customer or they put in an envelope in the drive up, and it goes straight back to the customer without recounting, and that's how you get your efficiency and they get confidence in it, and it really is a blessing for those tellers; they can focus on the customer and on the transaction rather than on counting the money multiple times."