Home Cashless ATM How Do They Work Questions and Answers Free or Purchase ATM Products Benefits
Q. What is a Cashless POB ATM Machine?A: A scrip machine works like a traditional ATM except the Scrip Machine holds no cash. The Cashless POB ATM machine prints out a receipt for preset dollar amounts and the cashier redeems it for products, services, and/or cash back for the customer. This allows you to offer your customers the convenience of ATM service without the expense, security risks or the refilling of cash like traditional ATMs.
Q. How is Cashless POB ATM Machine Different?A: A Cashless POB ATM Machine gives the customer a two part receipt for redemption at checkout to pay for products, and/or services. The customer keeps the customer portion of the scrip receipt for the customer records and the merchant keeps the merchant portion for their records.
Q. Will my sales using a Cashless POB ATM?
A: Yes. More people carry ATM, debit, and bank cards than own a credit card.
Because of this many in the financial services industry are projecting the number of ATM machines in the
United States to increase every year. The best part is people will spend more if they have the
option of using their debit cards. Cashless POB ATM Machines pay you each time it is used.
Q. What do I have to do to install a Cashless POB ATM?A: We ship our scrip machines pre-programmed and ready to use. All you have to do is plug in the power cord to a standard wall plug, and connect the machine to a standard analog phone line and you're ready to offer ATM services to your customers.
Q: Do I need a dedicated phone line?A: No, you can use your existing line but we recommend shareing a fax line or dedicated.
Q: Do I have to pay for paper supplies?A: No. We supply paper for as long as you're processing with us.
Q: Is there a monthly fee?A: Yes. there is a monthly support fee that runs $10.00 per month which covers the cost of direct deposit and also provides a hard copy statement that is mailed to the merchant. This is if you own the machine and we provide the processing. If we own it there is never any fee!
Q: Do I have to provide insurance for this unit?A: We do not require you to have insurance coverage on your machine if you are buying it and own it outright. However if you carry an insurance policy on your business assets we recommend that you call your insurance provider and add the machine to your list of insured assets. If we own it we ask for an additionally insured certificate which is free from your carrier.
Q: Is there any signage provided?A: We provide decals for your business' doors, and a countertop stand that has signage on it. Banners, florescent Atm signs, and other promotional materials can be provided at additional cost.
Q: How fast do merchants get their funds?A: The funds that merchants pay out when honoring scrip recepts from the machine will be deposited into their bank account in about 3 business days through the banking system. The profits made from the surcharge is deposited into the merchant's account by the 15th of the month for each previous month's transactions.
Q: How much do I earn on each transaction?A: That depends on the amount you decide to set your surcharge. The amount above the merchant buy rate is what the merchant's profit is on each transaction. Contact us for buy rate amount for each approved transaction. If we provide the machine then you earn a percentage of the surcharge.
Q: What is the machine's power requirement?A: Standard 110 volt outlet within 10 feet of the unit.
Q: When transactions are dialing out, are there long distance charges?A: No. Our machines dial-up a tollfree number so you don't have to pay any long distance charges
Q: Will the unit be permanently secured?A: With no theft element, it is not necessary to secure the unit to the wall or floor. You can velcro the unit down to keep it from moving.
Q: How much is the surcharge that the customer pays?A: The average surcharge amount is $0.99 to $2.00. Gentlemen's clubs, and other specialty locations can charge $3.00, or more. The merchant decides what the surcharge amount will be on their machine.
Q: Once I sign up, how long before I can expect my equipment?A: You can expect your scrip machine to be delivered in about 5 to 7 business days after we receive payment for the machine, along with the necessary paperwork.
Q: Do you have a unit that will work for our drive thru windows?A: Yes. Pin Pads are available with long cords so your drive through personal can hand the unit out to the customer so they can enter their PIN number with convenience without getting out of their car. Call for a quote on external Pin Pads.
Q. What About Chargebacks?A: Charge backs are not an issue with cashless atm machines since they only performs PIN based transactions. For a detailed overview of Cashless POB ATM machines Click Here.