‘Working on the first Mobile ATMs, we never expected the service to become so popular, nor single deposits to amount to a few hundred thousand zlotys. It may take up to an hour to insert that much cash into a feeder that only accepts 150 notes at a time. That’s why, in order to make it easier for our clients to deposit large amounts, we’re introducing new cars equipped with custom drop chutes’, informs Barbara Chaber, Director of the Operational Support Office at Idea Bank.
The Bank recommends that its clients use the new Mobile ATMs for sums exceeding PLN 20 thousand. If one wants to make such a deposit and declares it via a mobile app, they will be presented with a possibility to order a drop chute-equipped vehicle. The first one – Ford Transit Connect – has just hit the streets of Warsaw.
It is one of the 19 Mobile ATMs currently available in Idea’s fleet, which is to grow by another 18 vehicles in the first half of 2017. New cars will all be fitted with customized drop chutes, designed by Globe, along with the automatic teller / cash deposit machines delivered by Wincor NiXdorf. They are adapted to money transportation purposes by Germaz. 18 ATMs are connected to Euronet, whereas the BMW i3 is communicating directly with the bank. The mobile booking app was created by iTaxi.
To deposit cash using a drop chute, you need a special envelope and a payment card linked to an account with Idea Bank. Users are asked to insert their card and scan a barcode printed on the envelope, and then to declare the amount they want to deposit. Operations are entered into the accounts within 4 hours maximum. Deposits made via CDMs that instantly count and verify the notes are recorded immediately.
Importantly, the envelopes can be used to deposit both banknotes and coins. That’s the first time Idea Bank’s clients have been given a way to remotely dispose of their change. Although total amounts deposited via Mobile ATMs are large, many account-holders use specie on a daily basis (shops, cafes, seasonal food outlets, etc.). Up to now they could not enter it into a Mobile ATM. The service is fee-free and commission-free for all kinds of deposits (CDM, drop chute, specie).
Average amount deposited via a Mobile ATM is PLN 6 440. In comparison, the average deposit made at a stationary CDM located at Idea Bank’s branch is PLN 1 990. Deposits under PLN 1 000 make up 17% of all transactions. Clients order the service primarily to deposit cash; the withdrawal function is hardly ever used. According to research carried out by Idea Bank, 32% of sole proprietors only use cash transactions, and the remaining 68% combine cash with other types of transactions.
Besides Warsaw, Idea Bank’s Mobile ATMs are also available in: Sopot, Gdynia and Gdańsk, Poznań, Katowice, Wrocław, Kraków, Łódź, Szczecin, Lublin, Rzeszów and Białystok.
The Mobile ATM project has scooped many prestigious awards in both domestic and international competitions. For instance, it was recognized as the world’s greatest payments innovation in the 2015 BAI Finacle Global Banking Innovation Awards. The Mobile ATM concept was put forward by Dominik Fajbusiewicz, Idea Bank board member.