Bank of the Bahamas Limited is known for its use of innovative technology to deliver cutting edge services to customers. It was the first Bahamian bank to offer comprehensive online banking complete with cheque imaging and the first to clear US deposits using electronic images in compliance with Check 21 procedures. Now BOB is leading the way in innovation once more as the Bank recently become the first to accept non-envelope cash deposits at its BOB Express ATMs.

Apart from being a more environmentally sustainable way of doing business what does this mean for customers? In the past when funds were deposited in envelopes, the funds would sit in the ATM until a bank employee manually extracted the envelopes, counted the funds and then applied them to an account. But in the case of BOB Express ATMs, cash is now inserted directly into the machines without envelopes, automatically counted by the machines and immediately credited to the customer’s account making funds available to cash cheques, pay bills or fulfill other financial obligations.