Why you must have an atm in your business
- Quick access to cash
An ATM allows customers instant access to cash from their bank or credit cards. If you only accept cash as payment then an ATM in your business is especially important to have. If you are a business whose staff works for tips, you need an ATM in your business to ensure customers have an opportunity to take out cash to tip your staff members.
- Foot Traffic
When someone leaves a store to find an ATM, it is unlikely they will return to that place they just left. They will stick around and shop at the location where the ATM is located. It only makes sense to be that business that people go to when they need cash. The more people who enter your business to use the ATM, the more likely they are to purchase from your business.
- Fewer Credit Card Chargebacks
If customers cannot get a refund from you, they will contact their bank and challenge the charge in order to get their money back. This means the customer is requesting the bank charge the cost from your business account back to the customer's personal account. If the bank approves this claim, not only are the funds removed from your business account, but the customer is not obligated to return the item.
- Fewer Credit Card Transaction Fees
Credit card fees can way heavily on a business’s profits. Most major credit card companies charge merchants a fee between 1-3% for every credit card transaction made. Having an ATM in your establishment will allow customers to use cash instead of their card, ultimately lowering the daily fees charged to you. This means more profit for you!