Morning Musings – Outside In

Morning Musings – Outside In

The cash industry is simple, right? Banks and businesses keep the machines topped up, and we can just press a few buttons and have enough money for a spending spree or weekend away. Simple.

No. This morning I am writing one week into joining YourCash’s marketing team – and it’s been an eye-opener. I joined expecting to understand the whole process in a few hours, because before I joined it all seemed so simple. But how was I meant to know about the level of compliance each cash machine needs to adhere to? How knowledgeable our support teams need to be to keep our entire ATM estate running? How much efficient planning it takes to get an ATM into a location as fast as possible? How much dedication it takes to maintain maximum uptime on all of our cash machines?

We operate a service which many multinational banks run as a loss-making service, and roll it out to give business owners an easy means of saving money, and consumers the convenience of more ATMs to choose from.  How do we do it?

To find out, I have had the pleasure of desk-hopping into every department, and in each case have been overwhelmed at how efficient and knowledgeable the team is. Every person has an extensive understanding of not only their own area, but every connected department. A bespoke solution is offered to each merchant that contacts us, and a collective effort is required to ensure the process is smooth and as non-disruptive as possible.

YourCash is predominantly a supplier of freestanding cash machines, and interestingly I had always (given the choice) avoided these due to the expectation that they would charge me to access my own money – I’m sure I’m not the only one! HOWEVER the vast majority of YourCash ATMs are free to use and are no different to how you would use a through-the-wall ATMs which are sometimes (often wrongly) viewed as safer and more secure.

So next time you’re wary of using a freestanding cash machine – check it out. Our purple and orange cash machines are always free to use, safe and in convenient locations.

The industry is new to me, but what is clear is that cash is resilient – it’s definitely not the dying phenomenon as some report. ATM statistics are hitting new highs, and so are the sights of all at YourCash. There are definitely exciting times ahead – but when you next withdraw cash, spare a thought for the effort required to make it just that simple.

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