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.
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