FAQs For Having An ATM For Business
Customers will no longer stop at a competitor’s establishment to get cash (and spend it there). Customers will instead stop at your place of business because you can accommodate their cash needs.
According to a 7/11 study, ATM users spend 25% more than non ATM users. If someone withdraws cash, they usually end up spending a portion of the money in that business.
Because businesses with ATM machines see fewer credit card transactions and more cash spending, business owners save money in credit card processing fees. Credit card transactions cost between 2%-3% of a purchase.
Cash does not bounce. When a customer uses cash, your risk of chargebacks, disputes, and bad checks are reduced or eliminated.
The owner of the ATM receives surcharge profits from the machine. For high traffic locations, this can add up to a significant profit every month.
An ATM can save your employees’ time by not having to run a credit card at customer checkout. It also saves the time of the customer because they are able to access cash as well as make a purchase all in one location.
By providing useful services for your patrons, your image is improved. One reason people patronize your establishment is value. An ATM adds value to your establishment.
ATM Facts and Figures
- ATM customers spend a average of 20%-25% more than non ATM users
- 40% of ATM users go to the ATM machine on average of 10x per month
- Stores with ATM’s increase sales by over 8%
- ATM users tend to use the same ATM machines repeatedly
- Customers enjoy the convenience of an ATM in the store they patronize
- There are no returned checks with an ATM
- You reduce or eliminate credit card processing fees with an ATM