This service is a South African first, Currently FNB and ABSA offer the service, it allows the existing customer to check if they are eligible for a loan by checking at the ATM whether if they qualify for a loan or not.
How ABSA and FNB ATM realy works?
If the customer does qualify they will withdraw the cash instantly at the ATM at that moment, this is very useful if you want quick cash or loan. This kind of a loan is payable in 30days. The approved amount of loan will be transferred to your ABSA Account, from where you can withdraw it and use as you desire. ATM loans up to 3000 rand from any FNB ATM on your average savings account.