Azerbaijani Bank Offers ATMs With Currency Exchange Function

Azerbaijan is now one of the few Caucasian countries whose residents and guests can use ATMs that withdraw and accept cash and exchange currency. The Lithuanian banking technology company BS/2 and its Azeri subsidiary BSKom provided a functional solution for PASHA Bank, one of the largest commercial banks in Azerbaijan.

PASHA Bank has acquired high capacity (up to 15,600 notes) ATMs and became one of the first regional banks to which BS/2 offered such capacious ATMs. Usually, banks purchase ATMs holding twice less. Also, BS/2 provided a unique FCX.iQ software, which allows for direct exchange of currencies, especially for this bank.

“Such orders are infrequent since generally it‘s accepted that ATMs are intended solely for dispensing of bills. However, accepting cash and currency exchange are additional services that a bank can offer its customers”, says Tomas Augucevičius, BS/2 deputy general manager.

According to Mr. Augucevičius, ATMs with a currency exchange function save customers‘ time since they don‘t need to withdraw cash and head to the exchange office afterward – since the ATM immediately accepts and issues cash in the selected currency.

PASHA Bank is one of the leading (being one of the five largest) banks in Azerbaijan. The PASHA Holding LLC that owns PASHA Bank also includes hotels, restaurants, insurance, construction, investment, and tourism companies.