What is a reverse atm?

A reverse ATM is a type of ATM machine that allows users to deposit cash or checks into their bank account. Unlike traditional ATMs which dispense cash, a reverse ATM accepts deposits.

Reverse ATMs are commonly located in bank branches, as well as in retail locations such as grocery stores or convenience stores. They typically have a slot for inserting cash or checks, a screen for entering deposit information, and a receipt printer for providing a record of the transaction.

One benefit of using a reverse ATM is the convenience of being able to deposit funds outside of regular banking hours. This can be especially useful for individuals who have difficulty making it to a bank branch during normal business hours.

Overall, reverse ATMs provide a convenient and secure way for individuals to deposit funds into their bank account quickly and easily.