OREANDA-NEWS  On 30 September was announced, that within two years since Swedbank (Hansabanka's new name from September) installed the first cash deposit machine (CDM) in Latvia, 267 million lats have been deposited in its CDM network. In the first half of this year, the amount of cash deposited at CDMs of Swedbank exceeded five times the amount of cash deposited at all other CDMs in Latvia. Swedbank plans to take an 80% share of the Latvian CDM market till the end of year.

The amounts deposited at CDMs of Swedbank in Latvia are growing every month. If in June the amount deposited at CDMs of Swedbank was 20.2 million lats, then in July it reached 24.7 million lats, and 26.6 million lats in August. On average 20 million lats are deposited at CDMs of Swedbank every month.

“This shows that modern types of payment are becoming more popular among people and that they are better informed and know the benefits of electronic payments and banking services,” said Inвra Tiltiтa, Head of Daily Banking, Swedbank. “The main function of cash deposit machines is to give our customers a possibility to deposit by themselves, without the assistance of our employees, cash in their accounts and then do what they need - pay bills, make savings or purchases etc."

Presently, Swedbank’s customers have access to 287 ATMs and 54 CDMs at which almost 4 million transactions are performed every month. On average 140 million lats are withdrawn at our ATMs and about 20 million lats are deposited at CDMS monthly.

The design of CDMs is very similar to that of ATMS; it is intended only for cash depositing and it is a free service. CDMs accept all lats banknotes - the modernised Swedbank's CDMs also accept the new 100 and 500 lats banknotes.