An ATM which can accept, validate and store banknotes which then become available for customers who wish to withdraw Money in physical form such as banknotes and coins.. Cash The process of converting waste materials into new materials and objects. Banknotes are increasingly recycled after destruction, and the waste is often used for landfills, isolation material etc. Polymer notes are melted into pellets which are recycled into new products. Recycling is often incorrectly used instead of recirculation. See Recirculation. ATMs need to comply with The right to recirculate banknotes that have been checked for authenticity and sorted for fitness by banks and cash-in-transit companies. The right is normally based on rigorous rules established by the central bank. regulations imposed by the central bank. The term recycling is improperly used instead of recirculating but has become commonly accepted.