How to Increase Security for an ATM

Increase Security for an ATM

How Can You Increase Security for an ATM and Safeguard Against Theft?

We all know ATM’s are like candy to would-be thieves. However, that doesn’t mean your ATM has to be a target. People target these machines because they are small and they think they store a lot of money.

In reality, most merchant-owned free standing ATM’s (the ones in stores) don’t contain much cash. Many store owners remove the cash each evening like a cash register.

As a store owner or ATM operator, there are certain precautions you can take to limit the chance that an ATM is stolen or broken into and increase security for an ATM.

It’s easy to add a camera monitor for your ATM machine to ensure that it puts a person at risk if they try and steal money from it. The more measures you take to secure your machine the less likely someone will attempt to steal money out of it.

  • Install surveillance cameras around your ATM. No one wants to be spotted on camera. Put one directly on top of the machine and another in a location that has a good view of the ATM. These camera systems are inexpensive and work great.
  • Hang a sign up in the area to let people know that it is under constant surveillance. Thieves will think twice before making an attempt to steal from the ATM when cameras are around. Several higher-end machines come with cameras installed inside to help lower the chance of theft.  The some of the new Genmega series ATMs have surveillance deterrents pre-installed at the factory.
  • Put your ATM near a brightly lit area. The more lit the area where the ATM is located, the less chance someone is going to try and break into it. Make sure that the area directly above the machine and surrounding area has the proper lighting. This will also help customers feel more at ease when completing a transaction. No one wants to withdraw cash from an ATM in an area that is dark. Added security to a machine can help protect the money inside and help draw in customers.
  • Place the machine inside your store. Properly secure windows and doors to prevent people from trying to break in and remove cash each evening like a cash register.
  • Install an alarm in your store so if someone tries to get inside they will trigger it. Your machine should be more secure if it is inside your business. An alarm usually makes criminals move to the next target where they don’t have alarms. Alarms are inexpensive these days and go a long way to make would be criminals think twice about breaking into your business to steal your ATM or any other valuables inside for that matter.

Protecting your investment is just good business. You do not need someone stealing from your ATM. Make sure your installer properly secures your machine to the floor or wall. Make sure the area surrounding your establishment is well-lit, and if you own and operate your ATM machines, simply remove the cash when you close and leave the safe door open is the best security measure. If the ATM in your store is operated by someone else, most of the suggestions above deter criminal activity. A few small protective measures is all it takes to increase security for an ATM and protect your valuables.

The Future of ATMs

The Future of ATMsWill ATMs Become Obsolete?

ATMs are far from becoming obsolete, we know this to be true. These machines are evolving into devices that can complete the same type of transactions as tellers. ATMs are also turning into machines that can help a person get cash in a matter of seconds as opposed to minutes. New machines will start popping up in the next few years that will change the way you think of automated banking. Get an idea of what’s to come in the future for ATMs.

Banks are adopting ATMs that resemble tablet devices. These machines take the place of a teller and can receive your check, dispense cash, and complete most transactions a teller would handle. This allows banks to provide superior customer service by providing tellers on the bank floor to greet customers and answer any questions present. Tablet ATMs do not threaten a teller’s job; they simply allow banks to create a more welcoming atmosphere for customers.

How will these New ATMs be More Convenient?

Gaming consoles have used motion sensor technology for years and now ATMs will too. A new motion sensor machine is currently being developed. People that are wary about germs on a keypad do not have to worry any longer. These ATMs allow users to use their hands to pass motions. A number of transaction options are available at these ATMs. The current design has a woman sitting to produce a calm mood for the person using this type of ATM.

We have all experienced waiting in line to withdraw quick cash while the person in front is completing a series of transactions. The Tower is an ATM that is designed specifically to dispense cash. This machine will speed up the lines so that people do not have to wait to get cash. A user sets up a withdrawal from their cell phone and then taps the machine to get cash. These machines can help people in need of quick cash move quickly while others complete longer transactions at traditional ATMs.

Another machine designed to get you money in seconds is the cash barrel dispenser. All that is required is your debit or credit card and thumbprint. There is a selection of withdrawal options available and within seconds a user can take cash. A machine like this takes the worry out of being cautious about inputting your pin number while at an ATM. No one can learn your personalized pin with an ATM that only requires your thumbprint.

Businesses can benefit from having multiple machines available for people to complete simple or complicated transactions. The different machines allow banks to provide customers with a variety of options to choose from to complete a transaction to their liking. The ATM machines of the future have unique designs and offer solutions to make lines move faster. An investment into one of the machines of the future can prove to help make customers pleased with the selection of ATMs available.

Getting More than Just Cash from an ATM

Getting More than Just Cash from an ATM

Are ATMs Going to Become Obsolete?

ATM machines will never grow out of popularity. Cash is always going to be in demand, but the other services an ATM provides might not be necessary any longer. Most banks accept checks through your smart phone now so you do not have to go to an ATM to deposit money into your account. Instead of going to an ATM to withdraw money to pay a friend you can transfer money into their account online. So what are the things an ATM can do that you did not know about? You’d be surprised at what you may find.

  • You can collect gold from an ATM in certain places now. There are already gold dispensing ATMs in places such as Europe. Now gold dispensing ATMs are popping up all over the world. Whenever you decide that you want to invest into gold then you can go to an ATM and withdraw this metal. The machine will literally display an up to date exchange rate so that you can make a wise investment.
  •  Learn about financial opportunities when you visit an ATM. The screens have become highly advanced and now let people look at advertisements. ATM screens now show people ads that target that individual. For instance, if you have recently married, the bank might show you an ad about great home loan rates offered. This type of advertising has helped a lot of people learn about financial opportunities they did not know were present.
  • Did you know you could play the lottery on certain ATMs? As long as the state lottery commission approves it you can purchase a lottery ticket through the machine. A ticket is printed right there on the spot. You can also have your numbers sent to your phone so that you can verify whether or not you are a winner as soon as the numbers are released. Money is taken directly out of your account for the number of tickets you purchase.
  • Pay your taxes at an ATM. You will need to bring some important documents to the machine, but it is possible to pay taxes on certain ATMs. This can take a small amount of time so it is not recommended if there is a line behind you. Once your taxes are filed you can choose to pay any debt right there on the spot. Paperwork is printed and an e-receipt is given to you as proof of paying your taxes.
  • Withdraw money and reload your mobile device if you are on a pre-paid plan. Certain ATMs allow you to add more minutes or data straight from the machine. Every transaction you complete will take money directly out of your account. When you go withdraw cash you may want to add more minutes or additional data to your phone after you have seen your account balance.
  • Limit your spending by setting a limit on yourself. Some banks now allow people to set a budget to follow each week and month. The ATM will notify you of your remaining budget balance on your printed statement balance after every transaction you complete. You are not obligated to follow the budget you set. The purpose of setting a budget is to try and manage your money better so that you do not overspend. This is a good tool to use if you are trying to save money and want to closely monitor your spending habits.

The ATM has evolved to allow people to complete dozens of tasks beyond taking money. One machine that is far from being obsolete is the ATM. ATMs are continuing to expand the range of tasks you may complete at the machines. You can now even apply for loans or make a donation straight from an ATM. Businesses should take note and invest into machines that allow people a range of options to conduct at an ATM to improve the amount of potential customers.

How To Ensure You Profit From Your ATM

Ensure You Profit From Your ATM

So you have an ATM, but do you even know if you’re making any real profit? Some ATM operators consider the additional money spent in their location as profit but you may want to know the actual profit from the machine.

Do not become a business owner that buys an ATM and never calculates whether or not profits are being made. That’s no way to run a business. It’s a good idea to figure out how much you make a month and year so that you know the value of your investment.

When you don’t feel like you’re making as much profit as possible then you may want to consider ways to get more people to withdraw cash from your ATM. There are a few things you can do to encourage more customers to use your ATM.

How Much was the ATM?

Using the cost of the machine and how much profit you make from it monthly you can quickly see your ROI (your return on investment). Most business owners simply pay cash or use a credit card to finance the ATM (they aren’t that expensive anymore) so calculating ROI is fairly straight forward. While you can take advantage of depreciation and amortization as a piece of business equipment, you should also calculate how long it actually takes to recoup your investment.  We’ve seen busy ATM’s have an ROI of less than 1 month, while slower machines can take 6 – 12 months, which is still a fantastic ROI.

When you figure out how long it is going to take to pay off what you paid for the machine (your ROI) you’ll get a better understanding of when you will make a real profit. It should not take longer than a year to pay off what you invested to get the machine. Most business owners are able to pay off or recoup the investment in the ATM within a year.

Big factors include how much business you generate and the location of your machine. Make sure that your ATM is in a place people can easily find it. Consider putting your machine near the front of your store so people will be more likely to come in and use it if they need quick cash and don’t forget to load the ATM everyday.

How Much Does It Cost to Operate an ATM?

The factors that add to the operational cost of an ATM include communication (phone, internet or wireless device), a little electricity, and paper for the receipts.  All this added together is probably less than $0.85 per day.

Are you Keeping Track of the Money Going In and Out of Your ATM?

Most retail business ATM operators load cash daily similar to a cash register. So you should balance daily if you can. Otherwise, you can use the trial cassette close functions and online balance functions to track or count the money in the machine daily if possible. Whenever you or someone else loads the machine make your you have procedures in place to keep track of the funds. If you trust someone to load the ATM for you, be sure they keep a ledger or journal and make sure funds balance. This helps keep track of the money to ensure that you are not losing or missing any cash. Some people are tempted to think you’ll never miss a $20 bill here or there, so the last thing you want to realize is that someone you trust has been stealing a $20 here or there for a few months. Twenty dollars here and there might go unnoticed but it could add up.

You should be able to trust your employees but caution is always good to practice. Use the printer balance functions and put the receipts in envelopes and balance to the online system whenever you load or do your closeouts.

Are You Advertising that You Have an ATM?

A few signs, one for inside the store and a couple to put outside can make a big difference. Make your ATM very easy to find once people get inside. Post a big sign outside that reads “ATM Inside” so that people will know if they need cash all they have to do is walk into your store. Place another sign in close proximity to your store that notifies people there is an ATM within walking distance. A small investment into signs can go a long way and help you generate a lot of more profits on a weekly basis.

Another way to generate more ATM usage is to offer specials or coupons on the ATM receipt.  Most of the late model ATM machines make it easy to offer your customers extra value for using the ATM. If you have coupons in other publications, advertise those. You can also make deals with neighboring stores to advertise their store on your ATM if they advertise your store. You can also offer a coupon good for a special during their next visit.  There are lots of other ways to make your ATM more profitable. Want more tips on how to profit from your ATM, give us a call.