An Introduction to ATMs

Before you begin, the most important question is to ask yourself the reason for hosting an ATM. Are your decisions based around offering a high level of service, attracting new customers, become more competitive, or are you looking to reduce cash processing costs? It’s common to include all of these, but finding the most important factors will help providers find the best solution for you.

With a Free Placement machine you should expect no upfront costs to lease, rent, make a deposit or pay ATM installation charges. If not, you will need to consider the amount of benefits around increasing sales and profits or reduced cash processing costs to make returns on your investments.

With the growing popularity of internal Free to Use ATMs, it’s important that providers meet the needs of the retailer.

Understanding a clear processing agreement with the ATM provider is important. You’ll need to understand if there are any set transactions to be agreed and if these are not met, will you be subject to any fees or charges?

Understanding a clear processing agreement will help you choose the right provider that’s fitting for your business.

There may be unforeseen instances when you may need to terminate the ATM agreement early. You will need to understand the flexibility and any associated charges before signing the agreement so you know what to expect from the start.

Operating a merchant fill ATM and having this located inside your store will help attract customer footfall and increase spending next to your products and service whilst providing the extra convenience.

Where cash is simply not available then the last option would be to consider fully cash managed and/or having the cash machine installed outside of your premises. Important points to factor in will be higher insurance costs, security prevention for cash kept in the ATM overnight and building resources around planning permission and additional business rates on using public access areas.

It is important to check that the provider for the full cash management service is registered with the Security Industry Authority (SIA) licence so you know the service meets minimum regulatory requirements.

There may be instances throughout the agreement that you would want additional services from your provider that’s not covered from the standard servicing agreement, e.g. store refurbishment, ATM relocation, etc. We always recommend retailers to find out if the provider can give you with a clear price list of additional options from the outset so you can avoid any unexpected costs from the provider.

A: The question around the settlement of funds from your ATM to your account will undoubtedly be an important one. You should understand clearly how settlement is agreed with your provider. There may be different service levels amongst providers but in general you should check for; the time taken to process your funds; method of payment into your account; and strict controls to ensure settlement is paid accurately and on time, every time.

A: By having the ATM installed inside your store, you can ensure the ATM is safer than an external through the wall machine from fraudsters looking to install cameras or skimming devices to offer your customers with a secure and reliable service.

If there has been a case of fraudulent transactions such as using cloned or stolen cards, you would not be held liable and your cash should be settled normally. As the ATM is processed securely on the LINK, Visa or MasterCard networks, liability of fraudulent transactions sits with your provider or the cards issuer. At YourCash you will receive the piece of mind that comes from a trusted provider.