Bank of Valletta is launching one of the most technologically advanced models of ATM that the market has to offer.

The device incorporates technology that will enable customers and businesses to deposit cash and cheques in a fraction of the time they are accustomed to.

The new ATM, at the BOV head office, precedes another that will soon be placed in Republic Street, Valletta.

The new ATMs, equipped with touch-screens for ease of use, accept cash and cheque deposits without the need for an envelope. Both cash and cheques are scanned by the machine and, in most cases, money deposited can be made available within a very short time.

Cash deposits are instantly credited to the account chosen by the customer, while the ATM is capable of automatically reading the account number and other information on cheques deposited, simultaneously transmitting the information to the bank’s main processing centre.

Another benefit is in the form of receipt provided by the machine. This contains an image of each cheque deposited for more accurate client records as well as enhanced security.

Up to 100 euro notes of mixed denomination can be handled by the machine at any one time, again without the requirement of deposit envelopes or bags.

In the near future the bank will also be introducing ATMs that handle batch processing of deposits, further streamlining the deposit procedure for businesses.

Ray Azzopardi, executive head, IT Services at Bank of Valletta, commented about the benefits to clients’ experience saying, “This innovation by Bank of Valletta is the start of a planned rollout of the next generation of ATM.

“It is designed to improve the cash and cheque deposit system as well as to greatly reduce waiting time for our clients.”