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New ATMIA Position Paper on Universal Cash Deposits at ATMs
ATMIA published a public position paper recommending the widespread adoption of Universal Cash Deposit systems and standards for ATM networks worldwide.
The paper, which will be posted in the public domain and sent to regulators, promotes the position that Universal Cash Deposit for ATMs will assist communities and businesses in dealing with the decline in bank branches, while making cash itself more competitive in order to protect on-going access to cash for all demographic groups.
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U.S. Mint Produces Over 1.1 Billion Coins for Circulation
U.S. coin production snapped back in February following an atypically slower month in January, the latest figures from the United States Mint show.
Mint facilities in Philadelphia and Denver produced over 1.1 billion coins for circulation last month, posting increases of 26.5% from January and 6.3% from February 2020.
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The Role of Cash
The economy requires a certain amount of available cash to function. Cash is the dominant means of payment within the euro area, as the clear majority of our daily payments are made using banknotes or coins. Cash is also essential for the inclusion of socially vulnerable citizens, such as the elderly or lower-income groups.
But cash offers other important functions and benefits... Banknotes and coins are the only form of money that people can keep without involving a third party.
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[On-Demand Webinar] Self-Service ATMs for a Socially Distanced World
This month's WCW Pro-Cash Newsletter featured article is from Fiserv.
Consumers required more self-service options in 2020, including ways to access their money. While many embraced digital opportunities, others were eager to return to a branch.
As consumers adjust to a new normal, banks and credit unions are faced with decisions on how to meet branch needs at the ATM.
In this 15-minute on-demand webinar hear from Brendan Watkins and David Johnson of Fiserv on how self-service, assisted self-service and teller automation models can guide your thinking about branch and ATM hardware, staffing and innovation.
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This U.S. Bank branch on wheels brings new meaning to mobile banking
Over the past decade, the U.S. Bank Mobile Banking Unit has put on tens of thousands of miles crisscrossing the country to ensure customers and communities have access to banking services when natural disasters or other events have made branches inoperable.
For example, we’ve deployed our mobile unit in the wake of flooding in Cedar Rapids, Iowa, and Fargo, North Dakota; a tornado in Joplin, Missouri; and wildfires in Paradise, California; as well as following civil unrest in Minneapolis, where the mobile unit rotated between two locations.
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Cash Demand during COVID-19
Since the onset of the COVID-19 pandemic, the value of banknotes in circulation has risen sharply. This was despite cash being used much less for everyday transactions. Much of the strong demand for banknotes can be attributed to people's desire to hold cash for precautionary or store-of-wealth purposes. This behaviour is common during periods of significant economic uncertainty and stress, and many other countries saw similar patterns of cash demand.
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More Than a Year Into the Pandemic, Concerns Are Still Swirling About Bans on Cash
More than a year after the Covid-19 pandemic hit, igniting fears that the virus could be spread by handling currency, a group of three financial associations and a Chicago-based cash-in-transit and money-protection service sent a letter Monday to members of Congress, governors, and state legislators around the country warning about the harmful economic and social effects of prohibiting cash payment for goods and services.
READ MORE...
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This Month's Newsletter is Sponsored By:
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Fiserv is dedicated to delivering technology and services innovation to help its clients push the boundaries of what's possible in financial services, delivering deep expertise and innovative solutions to help financial institutions, businesses and consumers move and manage money faster and with greater ease than ever before.
As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution.
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Celebrate Cash News with Withdraw Cash Wednesday
Cash globally remains the most widely used and popular form of payment today. ATMIA’s goal with the Withdraw Cash Wednesday initiative is to communicate as an industry the many benefits of cash, while combating the negative press cash has received over the last few years to ensure consumers have cash as a payment choice for years to come. This monthly newsletter is geared towards sharing positive cash news reaching more than 10,000 ATM industry readers per month.
Don't miss our recent newsletters:
January 2021 - Sponsored by Fiserv
February 2021 - Sponsored by Fiserv
March 2021 - Sponsored by Fiserv
View all past Pro Cash Newsletters here.
Follow Withdraw Cash Wednesday on Twitter and share our posts. You can even share your own personal cash story. Please share Withdraw Cash Wednesday news with customers, friends and family to promote cash usage!
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If you're interested in sponsoring the WCW Pro-Cash Monthly Newsletter and reaching over 10,000 emails, please contact Claire Feterl by email or at 605.274.0277.
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