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Reception for cash issues

Due to the intensified struggle for private depositors, Russian banks are forced to look for new methods of attracting their money. Almost identical interest rates on deposits in most of the largest retail banks suggest that it is time to save on servicing depositors. To achieve this, banks began to open automated mini-offices and install ATMs in them that accept money.

Since Sberbank lowered interest rates by 1-2 points in September last year, there has been a lull in the private deposit market. The remaining banks, which immediately followed Sberbank in adjusting their interest rates, have been taking a wait-and-see approach for six months now. True, there has been a slight increase in interest rates on deposits in euros. Impexbank, which raised rates on these types of deposits by 1%, was followed by Gazprombank and Moscow Industrial Bank. But most likely, this local increase in rates does not indicate a flexible tariff policy of banks towards clients, but that the euro has become more attractive for banks.
After interest rates on ruble deposits have almost approached the level of inflation, it is becoming more and more difficult for banks to make a profit. The only one who feels confident in this market is Sberbank of Russia - due to the huge number of attracted deposits. For other banks, it becomes expensive to raise money from individuals: if there are more than 100 thousand private depositors, paperwork grows like a snowball. Many banks have not only realized the existence of this problem, but have also begun to resolve it - creating fully automated mini-offices. And now the struggle for Russian investors has reached a new level.
The pioneer in this matter was Citibank, which began working with Russian private investors at the end of last year. The bank did not follow the path of mass opening of branches, but reached an agreement with the BP company - information kiosks and ATMs are installed at its gas stations, which can not only issue money, but also accept it.
True, Citibank uses so-called envelope ATMs, which have a number of disadvantages. One of them is that funds are credited to the client’s account only after the collection of envelopes in which depositors deposit money into the ATM. The envelopes are opened at the bank in the presence of two employees, and the entire process is recorded on a video camera. However, controversial issues may arise here, not even regarding the number of banknotes, but their authenticity. If a banknote raises certain doubts among bank employees, they must send it for examination to the Bank of Russia. And if it really is fake, you won't see it again. Agree that losing money is always unpleasant: after all, the ill-fated bill could be exchanged at most exchange offices - and if not exchanged, then returned as a souvenir.
ATMs that accept banknotes are much more humane in this sense: they return questionable banknotes. Last week, the first such ATM began operating in Russia. BIN Bank installed it in its automated office. At the presentation dedicated to this event, the ATM, in full view of everyone, spat out a 50-ruble bill, which, at first glance, did not raise any doubt about its authenticity. Compared to envelope ATMs, banknote ATMs have one more advantage: money is credited to the account on-line. So far, at the BIN Bank ATM, you can only deposit money into a card account in this way, but by the end of the year the bank plans to credit funds to deposits as well. During the same period, BIN Bank intends to install ten more banknote ATMs.
But soon such a service will cease to be exotic. Several more Russian banks are ready to install cash-accepting ATMs in the near future. An ATM that accepts money in envelopes is currently being tested at Nomos Bank. The head of the payment systems department of this bank, Alexander Tyantov, told Dengi that by the end of the year the bank intends to install eight such ATMs “mainly in places with round-the-clock access.”
Alfa Bank has even more ambitious plans. In the spring, he intends to launch a project involving the creation of a network of retail mini-offices. Although during the day they will have two or three tellers, at night the mini-offices will operate in automatic mode. And here you cannot do without ATMs through which you can top up your account. As Alfa Bank press secretary Vadim Yurko told Dengi, 14 such ATMs will be installed in April, by the end of the year their number will increase to 60, and subsequently to 200. However, these will be envelope ATMs.
However, not all Russian banks are ready to provide new services to depositors. The fact is that the recently issued Regulation #199-P by the Central Bank regulates the operation of only envelope ATMs, which (due to the reasons described above) may remain unclaimed. Russian bankers are still wary of more modern banknote ATMs, which, by the way, are equipped with a currency exchange function. The fact is that, logically, banknote ATMs must be certified, just like machines for checking the authenticity of banknotes. However, according to Alexander Tyantov, so far none of the ATM suppliers has provided such certificates.
There is another factor hindering the installation of cash ATMs - their high cost. Using them for the small volumes of transactions that exist today, according to Sergei Larchenko, manager for development of the network of Citibank branches and ATMs, is simply not economically profitable.
Nevertheless, Citibank is considering the possibility of switching from envelope ATMs to banknote ATMs. The bank is currently testing them in Poland, and if this experiment is considered successful, then it is quite possible that Citibank will follow the example of BIN Bank and replace its envelope ATMs with banknote ATMs.
KIRILL YACHEISTOV

Conditions for accepting deposits in rubles by Russian banks

Conditions for accepting deposits in USD by Russian banks

Conditions for accepting deposits in euros by Russian banks

Magazine "Kommersant Money" No. 5 dated February 10, 2003, p. 64