Lithuanian banking technology company BS/2, working through its subsidiary BSKom, has implemented currency exchange at ATMs operated by Pasha Bank, one of the largest commercial banks in Azerbaijan.
BS/2 provided FCX.iQ software designed especially for Pasha Bank and its high-capacity ATMs, which are capable of holding up to 15,600 notes — twice as many as the average machine holds, a press release said.
"Such orders are extremely rare, since generally it‘s accepted that ATMs are intended solely for dispensing of [local currency]," BS/2 Deputy General Manager Tomas Augugevičius said in the release. "However, accepting cash and currency exchange are additional services that a bank can offer its customers."
ATMs with a currency exchange function save customers time by allowing them to skip an additional stop at a currency exchange office after getting cash, Augucevičius said.
Pasha Holding LLC, which owns Pasha Bank, also owns hotels, restaurants, tourism companies and other interests that made the implementation of multicurrency ATMs desirable.