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Who fills the ATM with cash?

ATM cash fills
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Who fills the ATM with cash?

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You fill the ATM with the cash takings from your business. It’s often easiest to think of the ATM as being just another till. However you only need to put in enough cash to last each day – for most businesses this will be around R2,500 – R10,000. Your current cash flow probably goes something like this: 1. Cash from customers goes into tills 2. Cash from tills is then transferred to night safe at close of business 3. Next day, cash float returned to till – rest of cash is taken to bank (bank charges you to bank this cash) The same happens once you have your ATM except that each morning the notes you have are now ‘banked’ into your ATM rather than you taking them off to the bank (as in point 3 above). Customers withdraw this cash from the ATM during the day and then at night when you ‘close’ (z read) your tills you also ‘close’ the ATM. The withdrawn cash is transferred direct into your bank account. A major benefit of this is that there are zero bank charges for this transfer! This alo

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There are 2 ways to do this: • Using your own takings to replenish the machine, thereby reducing your cash banking. • Using a cash provider to do this. Using a cash provider will impact on the revenue share or transaction revenue.

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