FAQs

What does the ATM look like and how much space does it need?

Click here to the product page that shows ATM dimensions

Will the operation of the ATM take me a long time each day?

No. Cashbox has worked closely with the machine manufacturer to develop and simplify the process. Our customers now tell us that on average, the morning set up takes just 2 minutes and the evening close around 3 minutes. Please note that other brands of ATM may take significantly longer to operate each day (up to half an hour).

Who fills the ATM with cash?

YOU fill the ATM with the cash takings from your business. The ATM is just another till on your premises. You will only need to put in enough cash to last each day - for most businesses this will be around £250-£1,000.

Your CURRENT CASHFLOW probably goes something like this:

  • Cash from customers goes into tills
  • Cash from tills is then transferred to night safe at close of business
  • Next day, cash float returned to till - rest of cash is taken to bank (bank charges you to bank this cash)

CASHFLOW WITH ATM

  • 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. This starts an electronic transfer of the withdrawn cash direct into your bank account.
  • Having closed the ATM you then remove any remaining notes from the machine and place them in your night safe, just as you currently do with cash from the tills.
  • The ATM door is left open over-night, much like you may already leave your till drawers open over-night.

Doesn't this provide another opportunity for my cash to 'go missing'?

The ATM keeps an electronic journal of every single transaction and the LINK network has a fully audited trail between the ATM and UK banks.

This is further backed up by Cashbox's free Dispute Management Service. The complete audit trail ensures that cash going into the ATM safe is much more secure than the cash currently sat in your tills!


How much cash do I need to put in the ATM?

Most people assume that an ATM must need filling with 1000s of pounds. This is true if a cash-in-transit company fills your ATM only periodically. In this case the ATM may be filled with £20-£35,000! And this sits in the ATM 24hrs per day - something of a major security worry to most people!

However, Cashbox's self-fill programme means that you only put enough cash in the ATM to last you each day - and then nothing is left in the ATM overnight. For most businesses this means that they are only filling the ATM with £250-£1000 per day, depending on your individual level of trade. This cash comes from your takings and is 'banked' into the ATM each morning, instead of taking it to your bank


How long does it take for this cash to reach my bank account?

At the end of each day a 'Closeout' is performed on the ATM (just like a Z-read on a till). This action starts a BACS transfer of the withdrawn cash to your nominated bank account. BACS takes 3 working days to arrive in your account.


What about security? Am I more likely to have a break-in if my business has an ATM?
  • Having the ATM doesn't increase the amount of cash you have on site - it simply moves from a night safe to a day safe (in the ATM), and at night all cash is removed from the ATM.
  • The ATM is securely bolted to the floor and the safe is secured by an electronic, PIN protected, lock.
  • Leaving the safe door open overnight (just like a till drawer) clearly shows the ATM to be empty.

Will my Insurance Company put my premiums up if I install an ATM?

Because you fill the ATM with your own cash, there is no extra cash being brought on site. Therefore your current insurance policy for cash should still provide the cover you require. However we always recommend you inform your insurer prior to installation to avoid any confusion.


What about the ATM itself - who covers that?

Cashbox provides a full Parts & Labour warranty for the ATM itself, including all accidental or vandal damage. This warranty extends for the lifetime that the ATM is processing through Cashbox. So you'll never have any costs to keep the ATM in working order


What happens if someone tries to use a stolen card in the ATM?

Every transaction is authorised via the LINK network - so you will never have an issue with recharges or fraudulent transactions. If a valid card is used in conjunction with the correct valid PIN code, LINK will authorise the transaction and you are guaranteed to receive the funds to your nominated bank account


Do I have to deal with cards the ATM retains?

No. Unlike a traditional 'through the wall' bank ATM that 'sucks' the card into the machine, the Cashbox ATM uses a 'dip-card' reader. This means that the card never fully enters the machine and so it is impossible for the card to become jammed or be retained. This is a deliberate design feature to ensure that retailers never have to deal with retained cards (or angry customers)


I'm definitely interested in the idea of having an ATM installed, but want to know more before making a final decision. What's the next step?

We are more than happy to provide you with as much information as you need to make your decision. Please call Cashbox direct on 08701 126 2274 or email us on info@cashboxplc.co.uk or complete the query form direct from this website.





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