What is a Cash Recycler?
A cash recycler is a complex machine that handles a couple of simple, but important tasks—accepting and dispensing cash. It also stores money securely, keeps an accurate accounting of cash on hand, and automates the cash cycle. Generally, you’ll find them in banks, credit unions and back-office retail cash rooms.
In a cash recycler, banknotes are placed into a feeder and passed through a bill identifier to determine the denomination and validity of the banknotes. This cash is then stored in separate cassettes or modules for dispensing in future transactions. So, it’s the very definition of recycling, the cash that is deposited to a recycler is the same cash dispensed from it.
Cash recycling isn’t a product or a service — it’s a holistic approach to cash management. By automating and streamlining manual cash handling processes, it impacts every process and person in a financial institution.
Cash recycling improves both staff productivity and operational efficiency. It reduces labor and other cash handling costs while tightening cash controls and maximizing cash inventory. When businesses combine the power of cash recycling technologies and practices they experience unprecedented flexibility to grow and adapt their services and spaces to meet evolving customer demands.