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Envelope-free ATMs increase cash deposits because bank customers receive an image of each note on their deposit receipts, says Nicole Sturgill, research director of delivery channels at TowerGroup, the Needham, Mass.-based research arm of MasterCard Worldwide.

Many bank customers refuse to put cash into an ATM-deposit envelope because they fear a bank employee might steal it, Sturgill says. Instead of depositing cash into the ATMs, bank customers deposit the money with bank tellers, Sturgill adds.

ATMs that accept envelope deposits provide a receipt for the overall transaction amount, but they do not identify individual bank notes deposited, she says.

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