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Electrical Engineering/ATM Accepting Coins Currency ?.


QUESTION: Dear Prof Cleggsan

Assuming that $50, $100 are manufactured as coins then can ATM Machine accept (input) and output to the Customer who wants to withdraw money in the forms of coins ?.

Awaiting your reply,

Thanks & Regards,
Prashant S Akerkar

ANSWER: There currently in the market place - banks and various financial service industries - that have coin counting machines to help customers.  The coins counted are given a receipt which allows the customer to make an inperson deposit at the bank counter which eases the transaction time with the teller.  Adding these counting machine technology to an ATM is not difficult, supposedly.

Here is some evidence that the banks are looking to coin features with automatic cards.

And from Japan:

And from Singapore:

Best wishes.

---------- FOLLOW-UP ----------

QUESTION: Dear Prof Cleggsan

Thank you.

Here the challenging aspect would be segregation of coins value kept in the ATM Machine ?. i.e. Rs 1, Rs 10, Rs 50, Rs 100, Rs 500, Rs 1000, RS 5000 etc in coins similar to paper notes currency.

There could be two drawers within ATM machine one each for paper currency notes and one for coins ?.

If a customer wants to withdraw money from ATM Machine, Then  there could be output of notes and coins both, only notes, only coins.

Awaiting your reply,

Thanks & Regards,
Prashant S Akerkar

With so much complexity in stocking the coin drawer, extra accounting by the ATM upkeepers and limited need for the hard coins it seems to me this product would fail the market test for business practicality.  What do you think?

On the other hand, there are self-checkout machines similar to this;  when making the purchase the customer can enter either coins, paper money or credit cards.  The checkout machine gives back change to the customer in paper and coin money.  These machines are very popular in big super market grocery stores in the USA and Europe.  Not so popular in Japan as they are going away from hard cash and using smart cards for everything.

In future, ATM machines of the kind you are thinking will completely go away in the marketplace I think.  

But, this is not an engineering question as such machines are easily designed and constructed so my opinion about the business for multi-money machines is opinion only.  

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