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"Greedy Algorithm"

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Diagram illustrating the Greedy Algorithm used for ATM cash withdrawals

ATM

What is the Greedy Algorithm?

In payment systems, the Greedy Algorithm is used to give the customer the minimum number of banknotes when withdrawing cash from an ATM. The algorithm used varies from bank to bank, since ATM cash capacity and transaction volume differ. For example...

ATM cash dispenser mechanism distributing banknotes

ATM

What Are the Cash Dispensing Algorithms Used in ATMs?

ATMs are important transaction points that let customers handle financial transactions without visiting a bank branch. 24/7 availability matters for customer satisfaction, so banks take steps to reduce both operational and cash costs.