Cash may be declining in some markets, but handling physical currency remains a critical function for banks worldwide. Financial institutions are deploying increasingly advanced technology to manage deposits. Here are five revealing insights into how cash deposits are handled across different global markets.
1. Brazil Redefines Cash Management Through Recycling
Brazil has transformed its approach to cash deposits. Recycling machines now account for 97% of all automated deposit terminals in the country. This shift is part of a comprehensive branch transformation strategy that has dramatically improved security by minimising staff cash handling.
According to Brazilian banks, automated deposit terminals allow their staff to focus on sales activities rather than cash processing, with some institutions seeing 70% of cash deposits migrating from teller counters to self-service machines. The business case is so compelling that even when banks purchase machines without immediate plans to enable recycling, they typically select more expensive recycling-capable hardware for future activation. There’s also still plenty of potential in the market, with a large share of self-service deposits remaining unautomated, currently using envelopes instead.
2. Canada Is One of the Only Major Markets Not Using Recycling ATMs
Most markets are rapidly adopting cash recycling technology or are well on their way to doing so, but Canadian banks are resisting this global trend. Despite the potential cost savings, Canadian institutions are unconvinced, reporting no business case for deploying recyclers, as there are not enough balanced transactions at their ATMs to warrant their installation. Banks also cite concerns about reliability and high maintenance costs.
This resistance has created one of the few major markets where no recycling ATMs are in operation. Instead, Canadian deployers are focusing on enhancing other aspects of their deposit terminals. For instance, banks such as NBC recently introduced tap functionality through NFC readers for authentication, and CIBC is focusing on appealing to younger banking customers.
3. Turkey Has One of the Lowest Average Deposit Values
Turkey stands out among major markets for remarkably low average deposit value: just US$68 per transaction. This figure reflects the country’s high inflation and currency depreciation challenges. Turkish banks have adapted with a unique approach to cash recycling: processing only their highest denomination notes (200 lira), which are worth less than US$10 each.
This selective recycling strategy helps banks manage efficiency while minimising jams from heavily circulated lower-value notes. Some banks have even begun lobbying the central bank to introduce higher-value banknotes as current denominations become increasingly devalued.
4. Italian Customers Make Remarkably Large Deposits
In contrast, Italian customers make substantially larger deposits than most other countries, with an average deposit value of US$1,546—over 20 times higher than in Turkey. This pattern reflects cultural preferences for cash and the needs of Italian businesses.
Most Italian automated deposit terminals are specifically designed to handle these larger transactions, with higher storage capacity and the ability to process bundles of up to 200 notes at once. Banks report that these high-value deposits have been instrumental in their decision to transition to recycling terminals, which now make up 91% of Italy’s deposit ATMs.
5. Thai Customers Use a Unique Network of Stand-Alone Deposit Terminals
Thailand stands out globally for its extensive network of deposit-only terminals that don’t dispense cash. These “Boonterm kiosks,” operated by FSMART, number around 126,000 and are deployed primarily in rural areas. Unlike most markets where banks are the primary deployers of deposit technology, this unique Thai model provides financial services access to over 20% of the population through a network that extends well beyond traditional bank infrastructure.
The Future of Cash Deposits Remains Diverse
As banks continue to balance digital transformation with the ongoing need for physical cash services, these regional differences highlight how local economic conditions, security concerns and customer behaviours will continue to shape the evolution of deposit technology. Despite global trends toward standardisation, the way in which people deposit cash will remain surprisingly diverse across international markets.
Find out more about our global deposit automaton and recycling research.
