ATM loans (Recurring advance deposit): This is an electronic service allowing customers to apply for small loans and receive immediate payouts at an ATM. It is a South African first. Currently FNB and ABSA offer the service where a customer can check to whether he or she qualifies and withdraw the amount, all from the ATM.
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It is more like an overdraft facility where the amount is offset against the next deposit. FNB ATM Loans , ABSA ATM Loans, NEDBANK ATM Loans
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