How does the ATM transaction work?

The ATM user swipes their card and request a withdrawal, for example $100 is requested and the surcharge is set to $3.00. The ATM dials into the appropriate banking network through a secure phone or wireless modem, the network accesses the banking network who then verifies the pin and other account information. If the requested amount is available, then the bank system processes the transaction sending a signal back to the ATM approving the withdraw. The ATM then dispenses the $100. Moments later the network automatically wires the $100 to the ATM owners account, plus sends to $3 surcharge to a holding account.

How do I get paid?

PocketCash pays each vendor at the beginning of the month for transactions from the previous month. Direct deposit is also available.

How much money can an ATM hold?

Most ATMs are designed to hold more than you will need to put in it. Depending on how often you want to replenish the funds, most ATMs will need a few thousand dollars to last a week or more.

What is the earliest that I can get an ATM installed?

Depending on manufacturer lead time and availability along with completed required documents, we can deploy the ATM in as early as two weeks.

What is the average surcharge fee?

This ranges across the country, and the type of location. Fees are from $2.00 to $20.00 depending on the location and nature of the business.

What if a cardholder says he didn’t get the money requested at my ATM?

There could be several reasons why the cardholder did not receive the money requested. The cardholder may not have enough funds in their account or in some cases the ATM was low on cash. If this occurs and you are the owner of the ATM we would tell you to inform the customer to speak with the bank. The bank will then file a “Reg E” form causing a dispute on that ATM. As the owner of the ATM, you would be required to provide a journal receipt, which is stored in the ATM hard drive. That receipt is submitted to the processor and the transaction is made whole electronically.