Automated Teller Machine/Cash Ticket Machine
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1-800-742-0400 | |
| ATM/CTM Frequently Asked Questions | ||||||||
| Automated Teller Machine/Cash Ticket Machine |
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| Q | What is the Cash-Vantage ATM? | ||||||||
| A | The Cash-Vantage ATM is a cashless ATM, also referred to as an ATM/CTM, which dispenses a script instead of a cash. The customer uses the script in lieu of cash to pay for their order or presents the script for cash back. The self-serve, stand-alone system allows the machine to be placed anywhere in the business. | ||||||||
| Q | What businesses are best suited to use the Cash-Vantage ATM? | ||||||||
| A | Ideally, businesses that deal solely with cash transactions can increase sales as the ATM/CTM terminal increases customers access to cash, thus more purchasing power while continuing not to incur card transaction fees, returned check fees or increased insurance premiums. However, businesses that accept credit and debit card transaction now have an alternative mode of operation which can reduce their operating costs and financial risks (e.g. card disputes, reversed payments). Presence of the ATM/CTM terminal can bring in customers looking for the convenience of an ATM, thus potentially gaining additional purchases. Even where a business currently has a conventional ATM, they can reduce their operational costs considerably replacing the expensive equipment, eliminating insurance premiums, reducing the cost of loading and maintaining the ATM, eliminating the headaches of jammed money, and decreasing the risk of robbery. |
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| Q | Is the Cash-Vantage difficult to use or confusing to the customer? | ||||||||
| A | No. The cashless ATM basically operates just as a conventional ATM except that it dispenses a script rather than cash. The customer provides uses the script to pay for products and/or services in lieu of cash. The Customer simply slides their card through the terminal, enters their PIN number, the amount required and receives a bank certified script. The terminal also provides the step by step instructions on a display screen. | ||||||||
| Q | Can the Cash-Vantage ATM accept credit cards? | ||||||||
| A | Yes provided a PIN number is used. | ||||||||
| Q | What are the amounts that can be dispensed? | ||||||||
| A | There are 7 programmable options. The most common denominations are $10, $20, $40, $50, $60, $80, and $100. The final decision is completely up to you. All options must be in $10 increments. | ||||||||
| Q | Is there a maximum transaction fee? | ||||||||
| A | Although not a requirement, a $1.50 to $2.00 transaction fee will generally create the best public reception of the ATM/CTM. However, if there is a special situation that needs an exception, a higher transaction fee can be programmed. Towing companies typically charge $4.00. The Cash-Vantage ATM offers the same opportunity to receive transaction fee income as a conventional ATM at a fraction of the cost of a conventional ATM of $5,000 to $15,000. Using the ATM/CTM also eliminates security and theft concerns. |
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| Q | If there is no counter space, how can the unit be displayed? | ||||||||
| A | The Cashless ATM (ATM/CTM) can be mounted on a floor standing kiosk. | ||||||||
| Q | Can the Cash-Vantage ATM be used at a drive-in? | ||||||||
| A | Yes. A separate Pin pad can be equipped with the ATM/CTM and mounted at a drive-up window. | ||||||||
| Q | What security measures need to be taken for installation and operation? | ||||||||
| A | Since the ATM/CTM holds no cash, the unit does not need any special mounting to securely fix the terminal in place. Without cash, there is reduce risk of robbery and theft, reduced accumulated cash receivables to lock-up and the credited funds are deposited directly into your bank account on the NEXT BUSINESS DAY! | ||||||||
| Q | Does a dedicated phone line or special service line need to be installed? | ||||||||
| A | No. The Cash-Vantage ATM is a dial-up device that dials the financial processing company when required and uses a standard phone line. Consequently, it can be hooked onto an existing telephone line. However, a dedicated phone line is recommended for customer convenience but not required. | ||||||||
| Q | What are the power requirements? | ||||||||
| A | The Cash-Vantage terminals use a standard 100 volt power supply located within 10 feet of the terminal and should be on a dedicated circuit breaker. | ||||||||
| Q | Can the equipment and service provisioning be purchased totally from Cash-Vantage? | ||||||||
| A | Cash-Vantage provides a total solution which includes the terminal and an account with the service provisioning company. However, you must have or establish a bank account to receive the credited funds. | ||||||||
| Q | What is the cost for repair or replacement of the unit if it fails to operate? | ||||||||
| A | The terminal manufacturer provides a one year warranty on the terminal and the service provisioning company guarantees the terminal for as long as you maintain an active account with the company. | ||||||||
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