Can Teller Cash Dispensers (TCDs) Still Help my Branch?
As you have undoubtedly noticed, the marketplace has been seeing a large migration towards Teller Cash Recyclers (TCRs). Cash recyclers automate both sides of the cash-processing transaction while also adding some vault functions that most branches would love to have. TCRs can offer many advantages, so you might be wondering if there is still a place for Teller Cash Dispensers (TCDs) to help deliver great returns for your financial institution?
Teller Cash Dispenser: Business Model
It is important to examine your business model and identify which transactions you are aiming to streamline in terms of efficiency and accuracy. The vast majority of credit unions still give out 90-95% cash, while taking in very little. Although some have added more business accounts, the primary driver of most credit unions is to serve their members, typically John Q. Public. Still, an overwhelming majority of the branch transactions consist of cash flowing out or back to the member. Whether you are cashing checks, doing direct-deposit withdrawals, or paying out social security funds, a cash dispenser can be a great benefit to you.
Teller Cash Dispenser: Capacity
Although newer cash recyclers are coming out with larger capacities, they are still primarily designed for environments with a relatively even mix of cash coming in and going out. Cash dispensers, which operate like ATMs for your tellers, are designed with the highest of capacity in mind. Because loading cash dispensers is a manual process typically performed once per week, they are designed to limit the need for replenishment and loading, while keeping the focus on automating transactions. A typical cash dispenser might hold between 15,000-18,0000 notes, compared to a cash recycler which might hold 5000-8000 notes. So unless you have a large amount of cash coming in, a cash recycler will require much more frequent loading than a dispenser.
Teller Cash Dispenser: Pricing
While the difference in cost between cash dispensers and recyclers has slightly decreased over the years, a recycler will still be significantly pricier. A cash recycler does handle more transactions types, but there should still be a good business case for why you would take on that additional expense.
Typical Cost Range of TCD - $20,000-$25,000
Typical Cost Range of TCR - $28,000-$40,000
So as you can see, a cash dispenser could potentially be half the price of a cash recycler, and might even be a better fit for your environment.
Teller Cash Dispenser: Summary
There are a number of reasons cash recyclers can be extremely beneficial to your branch environment, but there are undoubtedly some instances where a cash dispenser would provide an even greater solution. If your branch gives out a lot of cash or if you have a drive-through area in need of automation, I would encourage you to seriously consider the cash dispenser as a great automation solution.
If you are still unsure of which solution might be the best fit for your environment, just click on the banner below and we'd be happy to consult with you. Our goal is not to steer you towards the priciest products and solutions, but instead to make sure you're educated to spend as wisely and efficiently as possible to meet your specific needs.
About Sean Farrell
Sean has been in the business since 2003 and always aims to be an expert on whatever solutions QDS is providing. Sean has grown into a thought leader in the space through research and company growth. Sean holds strongly to his Christian faith and uses those principles to guide the business.