What happens to the money in the atm deposit envelope after i insert it into the atm machine?
The envelope is transported via conveyor to a deposit bin inside the ATM’s protective safe. It is usually stamped by the ATM with details on the way by there there (I say usually because especially with NCR built machines the deposit printers are unreliable). The deposits are removed by whoever has access to the ATM safe, usually this is done at least once a day. The envelopes are then processed (either by the financial institution who owns the machines or their sub contractor) meaning the contents are counted and verify and the correct account credited. It is common these days for banks to get armored transport companies to manage their ATM networks so it is actually they who do the accessing of the safe and the processing. The armed guards collect the deposit envelopes and take them back to their depot where tellers count the contents. They then notify the bank by a certain time each day and the bank updates accounts accordingly. The actual cash from the envelopes is then processed i
