Planning to buy an ATM but deterred by the cost?
Now! You can “own” an ATM without buying one! ENCASH Independent ATM Deployer (IAD), the first and only one of this industry in the Philippines, makes this possible by installing Automated Teller Machines (ATMs) for banks who wish to provide cash dispensing services for any and all ATM cardholders in areas deemed less-than-attractive by commercial banks. ENCASH provides a cost-effective business solution for rural banks, enabling them to forgo the issues of expensive ATM infrastructure, technical skills, 24/7 operation, manpower and organization, among others.
A successful withdrawal is assessed a Convenience Fee, to be shared between ENCASH and the partner institution through a responsibility-sharing arrangement. Thus, this is the most profitable ATM initiative for banks!
A win-win situation for Rural Banks!
Through ENCASH IAD, rural banks are expected to roll out ATMs at a faster pace since they will be able to better manage their expenses for data management, space rental, and other incremental costs. Aside from the income generated from the Convenience Fees, rural banks will be able to showcase their modern capabilities to their clients, similar to those of commercial banks. Cash withdrawals are settled on the next banking day.
Cardholders will benefit from the convenience of accessing more ATMs throughout the country, while enabling them to perform additional personal transactions (e.g. salaries, government pension, remittances, conditional cash transfer) through a robust, proven, trusted channel.
