What is a reverse ATM?

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ATMs are just about everywhere, but reverse ATMs tend to be less common — at least for now.

Cash payments have been declining over recent years for a variety of reasons. Today, more and more businesses are choosing to only accept card payments. But these limits on cash payments present a problem for those without access to a debit card or credit card.

Reverse ATMs, which accept cash deposits and dispense a prepaid card in exchange, are one solution. However, they're not without drawbacks. Continue reading to learn more about how reverse ATMs work and the potential costs associated with them.

A reverse ATM, or a cash-to-card kiosk, is a freestanding kiosk that accepts cash deposits and dispenses a prepaid card in return. It looks similar to a regular ATM but performs essentially the opposite function.

The card you receive from a reverse ATM is like any prepaid card and comes with standard security features. You can generally use it anywhere debit or credit cards are accepted. Some reverse ATMs also offer the abilit

Fuente original: Yahoo Finance (https://finance.yahoo.com/personal-finance/banking/article/reverse-atm-142705138.html)