Bill Paying and Consolidating Via ATMs

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

Bill Paying and Consolidating Via ATMs

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.

Cash Limits at ATMs

Cash for Convenience

Cash Limits at ATMs

It’s a matter of convenience when you want to withdraw cash from an ATM machine. You may find yourself in a cash crunch and need access to cash right away. Whether it’s to pay a bill or for some cash for last-minute spending, the convenience of the cash machine can be a glorious, welcoming site!

However, cash machines can also bring a bit of angst with their conveniences. Meaning that sometimes when you have to or find that you need to withdraw particularly large amounts of cash, you may find that there are imposed limits on just how much cash you can retrieve. Why is that? Is it fair? After all, since it is your money, how can the ATM machine or the banking facility impose a limit on your money and block you from getting what’s yours?

Locating Cash Machines

There are some cash machines that will tell you or show you the daily limit that you can retrieve from that particular machine. What some customers will attempt to try is to go to several different ATMs and try to withdraw their cash requirements and try to skirt around the imposed limit. They are usually not always successful because the cash restrictions are not tied to the cash machine itself, but rather to the account for which the transaction is tied to. That means that no matter how many machines are visited, the limit will follow the account and not the transaction.

Why Cash Limits Are Imposed

So why is it then that there are limits imposed? Simply put, for security reasons. By implementing a cash withdrawal threshold for each account, this guarantees that a someone who has wrongfully gained access to the person’s account will not empty the account out.

This is especially good news for the person who has either lost their ATM card or find that it has been stolen. If this were to ever happen, the person of course would notify the bank immediately when they discover this. However, at that point it is theoretically possible that the thief can essentially withdraw all of the money from the account, whether that amount is $100 or $100,000. But with limits, there is a cutoff, and the person’s account would essentially be affected by that amount.

Customers and ATM Protection

Stolen cards would become void and deactivated, and then eventually replaced by the bank for the customers. So the person who stole the card would not be able to use it to access the individual’s account, and there are no worries about the account being completely emptied. In the case where there may have been money stolen, the ATM and banking institution will usually have insurance to cover against these losses, and the banking customer would be reimbursed for any losses.

Free-standing ATM machines very often don’t have human security systems, such as guards or uniformed policemen. They have security cameras that record traffic activity and that also monitor any activity from the machine. Therefore, if there is any suspicious activity milling around the machine, the camera will record it and aid in any investigative attempts at fraudulent behavior.

ATM machines will also sometimes display a notice stating the amount of money that the cash machine holds, or, what the daily withdrawal amounts are per customer. They do this for two reasons; 1.) to deter any criminal activity with anyone thinking that the ATM machine contains a substantial amount of money, and 2) to keep customers aware of limits so that they can guard against any ATM suspicious activities like skimming or stalking. Also, ATM machines will sometimes post notices stating that the machines are stocked every 24 hours, also in an effort to discourage suspicious activity in thinking that the machines are full of monies.