Business owners and entrepreneurs want flexibility and convenience in their lives, which is a large part of the reason why they go into business in the first place. Although they may possibly own several businesses, they are able to stay successful and see growth if they can implement as many automated systems as possible into their stream of business. In the ATM business industry, one of most attracting factors of the industry is its ability to be as convenient and flexible for the owners. ATM machines can be installed almost anywhere and in any location so as to serve customers, whether that’s foot traffic or automobile traffic.
Drive-thru ATM machines are one component of the ATM machine business that has made it quite successful because of its convenience factor. Customers can simply drive through the financial institution’s window and make a transaction without ever getting out of their cars. The customer can make withdrawals, deposits or cash transfers with their banks, much like customers who go inside the bank and do the same thing. There are even ATM windows that also have automated voice response windows that interact with customers, answer questions or give directions, much like a live teller would. Although mobile ATM’s are flexible and convenient, there are also other kinds of ATM services that provide even more flexibility to its customers.
No doubt that customers do like the convenience and flexibility of ATM’s, mobile ATM’s are another type of business that’s also a big draw for customers. You’ll find mobile ATM machines in places or events where stationery machines are not conducive to the situation. Whether the situation involves a security risk or simply the logistics of bringing in a stationery machine, which may not be feasible, mobile ATM’s are more of a safety solution or a practical solution for a service that customers will need.
Events like outdoor concerts or events, fairs or circuses or temporary events are ideal places where mobile ATM’s are found. Mobile ATM machines are generally set-up in locations of the event that are going to see high traffic. This is usually at the entrance of the event where there is a lot of traffic, but also where there is going to be more of a secure area instead of tucked away somewhere at the event that’s far away from the bulk of people traffic.
To further ensure that the ATM machines are kept safe and secure, they may be drilled down to a foundation or bound to a stationery area or post that’s already at the event. ATM machines generally weight in the thousands of pounds, making theft a difficult possibility. However, by securing the ATM machine to a firm foundation, this further ensures that there won’t be any problems at the event.
Mobile ATM’s can be moved from one site to another generally easily enough to make it a business that many ATM business owners concentrate solely on doing. Instead of owners finding and renting a location to hold their ATM machines, they simply book events and locations where they can park their mobile ATM’s and do business.
Attracting mobile ATM customers is certainly not a problem either. Anywhere where there is a steady amount of diverse traffic at an event is an opportune time for ATM owners to serve customers looking for cash machines. Workshops, seminars, concerts and even corporate events that travel from one location to another are perfect for mobile cash operations. ATM business owners can work out contracts with the event planners to host cash machines at their events for each time the event occurs. This is an ideal flexible solution for both business owners and the customers.
A mobile automated teller machine (ATM) is a special type of ATM. Most ATMs are meant to be stationary, and they’re often found attached to the side of financial institutions, in stores, and in malls. A mobile ATM machine, on the other hand, is meant to be moved from location to location. This type of ATM is often found at special events for which ATM service is only needed temporarily. For example, they may be found at carnivals, fairs, and parades. They may also be used at seminars and workshops when there is no regular ATM nearby.
Mobile ATMs are usually self-contained units that don’t need a building or enclosure. Usually, a mobile ATM can be placed in just about any location and can transmit transaction information wirelessly, so there’s no need to have a phone line handy. Mobile ATMs may, however, require access to an electrical source, though there are some capable of running on alternative sources of power. Often, these units are constructed of weather-resistant materials, so they can be used in practically any type of weather conditions. Additionally, these machines typically have internal heating and air conditioning units that help keep them functional despite the temperature of the environment.
In many cases, mobile ATMs are equipped with safety features. This can be important for inspiring confidence in the people who want to use them. If a potential customer feels that using a mobile ATM places him at risk, he may be far less likely to withdraw money and spend it at an event. To help ATM users feel more secure, a mobile ATM often comes equipped with fluorescent lighting, and some come equipped with canopies as well. By placing a mobile ATM in a bright, well-exposed area of an event, an event planner can further help ensure user security.
While a business owner or event planner could depend on nearby ATMs to serve his customers, a mobile ATM can also provide financial benefits. For example, if an event attendee has to leave an event to get cash from another machine, he may be less likely to spend money at the event. A mobile ATM, however, makes it easy for people to make impulse purchases without searching for an ATM. This type of ATM may also make it easier for event vendors to make money, even if they do not have credit card terminals. If easy access to an ATM isn’t provided, on the other hand, event attendees may be less likely to spend money with vendors who cannot take credit cards.
As if ATM machines weren’t simply convenient enough, the technology to do just about everything imaginable with using ATM’s can certainly get a lot better for some customers.
Bill Paying and Consolidating
ATM machines that are designed to do a whole lot more than simply dispense cash is what a lot of convenience stores and bill payment kiosks in the mall are getting into doing. These custom-made machines or ATM-styled terminals are also known as Vcoms. They look, act and produce just like an ATM machines, but they’re able to do so much more than the standard machines that are cash dispensers. Made and manufactured by the Verizon communication services company, these machines can:
- - dispense cash (of course)
- - handle bill payments to several categories of bill payors
- - allows customers to send money to other recipients (money transfers)
- - consolidate bills and bill payments
- - cash checks
Just about anything dealing with the transference of cash or cash activities is a big draw with these types of machines. Those customers who really like what it offers are the ones who want to keep their financial dealings brief and streamlined.
Bill Paying and Consolidating via ATMs When You Don’t own a computer?
There are many customers who do not own a computer, and simply just don’t want to for various reasons. Whether those reasons are personal or financial, they choose not to have a computer to perform their various weekly or monthly financial obligations, but choose instead to use these bill-paying kiosks to take care of everything.
It’s an especially useful form of financial management for those customers who have chosen to do bill consolidation and streamline their financial activities and debts. When they decide to reduce their spending, they may also reduce other things in their lives, which can also include the way(s) that they take care of any financial obligations. In bill consolidation, reducing computers and hardware in favor of kiosks is for some the best method to use.
Bill consolidating does get mixed responses from everyone on either side of the fence. That’s likely going to be because while people do in fact feel differently about this method of financial organization, it’s also a process that has given many individuals mixed feelings overall. Some agree with its validity and effectiveness, while there are still others who think that bill consolidation is an idea that should be done away with. No matter which side of the table people may stand, it is true that there are some good and some not so good benefits of bill consolidation that each individual should consider before engaging in this type of financial dealings. They should know what they can and should expect.
Bill consolidation allows individuals to eliminate their debts quickly and gives them flexibility needed to restructure their entire financial picture. They can consolidate debts into one bill payment to make things easier to manage. They can also use the bill consolidation process to rebuild any weak credit or damaged credit scenarios. This is especially helpful if people are trying to reestablish their credit standing or need to establish themselves as a viable credit risk. And since this bill payment method style can be managed at most any specialized kiosk ATM machine at any time, it makes it an even more convenient and attractive form of payment for its customers.
Bill payees aren’t concerned with where or how the payments originate, or how often the customer uses the kiosk. However, the customer does need to use a trusted, reliable and reputable kiosk machine in places where he knows they will work. Other than availability and functionality, these types of kiosks are a wonderful convenience for most any busy lifestyle.
Working with bill consolidation and using technologically advanced resources gives customers the satisfaction of feeling accomplished with a goal and also feeling better about their financial pictures while working towards their end result and financial goals.
Using ATM machines is without a doubt one of the most flexible and convenient methods that you can use to access quick cash from most any location. They’re available worldwide in high traffic areas, banks, restaurants, sports venues, airports, gas stations, and stores and even at events like traveling carnivals and libraries. You wouldn’t be hard-pressed to find an ATM machine most anywhere if you were to look around. But even with that kind of availability and flexibility, ATM cash machines are not always the best choice for some people. As a matter of fact, they can sometimes be the worst things for them.
ATM Debit vs. Credit
ATM machines can take both debit and credit cards to perform a transaction. The debit card allows the person to access their bank account and get money that’s directly available in their accounts. Although there are sometimes daily limit withdrawals for most transactions, it is still possible to withdraw a substantial amount that’s needed for most people. Also, if the person has a feature on their account called “Overdraft Protection,” they can still gain cash access if they don’t have sufficient funds immediately available in their bank accounts. Just as it is with credit cards and interest rates, there are interest rates or fees attached to this overdraft protection feature if the balance is not satisfied within a certain length of time.
Credit card transactions performed at ATM machines will access the person’s account, but will do so by using their credit card accounts. This means that they can and will gain access to the cash, but that access is also going to mean that they’re going to have a bill because that transaction is essentially acting as a “loan” to the person who withdraws the money. Along with this loan transaction comes an interest fee that is going to be attached to the withdrawal when the statement is released at the end of the billing cycle.
What’s the Problem?
Educating oneself on the processes of cash transactions and the different methods of withdrawing cash is the only way to avoid having financial issues. Some people who choose to make these types of “alternative” transactions aren’t fully aware of how the process works and may find themselves completely overwhelmed with debt in a short amount of time.
For instance, an overdraft protection fee for a customer may be set at an advance of an automatic $50.00 for each transaction instance, even if the person only withdraws $20.00 from the ATM machine. The other $30.00 may be deposited into their bank account, and the customer will see his balance slightly increase. This may be a great thing until the customer gets his statement and realizes the substantial amount of money that he’s been charged for making that transaction. The charge for interest rates or fees calculated on the $50.00 instead of $20.00 can be quite significant. Compile that with the possibility of customers withdrawing hundreds of dollars at a time with this method, and the idea of mounting fees and rates can be staggering.
For this reason, it’s best to know and fully understand each ATM and financial institution policies regarding cash advances and withdrawals. Financial maturity in handling money matters is also very important in realizing that everything is not “free,” especially when it comes to making transactions that will require you to treat them as types of loans.
It’s important for customers to read the fine print and any printed or digital material that comes with each banking transaction. They can also check with the financial institution where they’re making the transaction to inquire about its withdrawal policies. Customers should also take care to carefully read the digital readout that appears on ATM machines just before withdrawal or overdraft transactions are made. Being fully informed and aware of details before making withdrawal choices can save customers a lot of time and money down the road.