Cashless ATM's are a great addition to the Cash Discount Program for businesses that do not have a traditional ATM and do not want to stock extra cash to give back to customers. They work the same way as a regular ATM, but instead of spitting cash out it prints an approval slip that you treat as cash.
Cashless ATM's are simple credit card terminals that plug into a network cable or phone line. Most customers choose to have them sit behind the counter with a pin pad that faces the customer so they can enter their PIN. This way you can choose the amount they can take out. Amounts must be in multiples of $5 so if you have a transaction that is $37.98 you can choose to let them take out $40.00. That way you only have to give back change as if they handed you two twenties.
Cashless ATM's will work with any card that the customer knows the PIN to. They are not limited to just their debit cards. They are also much safer than taking checks since the transaction is approved using a PIN. When a customer uses your ATM the funds are direct deposited into your checking account much like the credit cards are now.
You can make money from Cashless ATM's. With our Cashless ATM there is a service fee the same way there is with mostly all ATM's. Our cost is $1.50 per transaction so you can choose to keep that or choose to increase it from there. Anything you choose to charge over $1.50 is 100% yours to keep.
Pairing a Cashless ATM with your new Cash Discount Program is a great way to not only offer your customers access to an ATM but to also make some additional revenue from it without the liability of having thousands of dollars vulnerable to criminals. It is also a great way to offer your customers an additional way to pay you with cash and not a credit card!