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#1724821 - 07/30/12 03:48 PM Privately Owned ATMs
Golfer9 Offline
100 Club
Joined: Sep 2007
Posts: 199
We have one business that owns their own ATM - only keep $500 in it (inside their business, balanced, replenished under dual control). But we have 2 businesses that have contracted with a business (each has contracted with a spearate business) to allow the company speicalizing in owning and operayting ATMs to place a machine in their factility and pay our customer a commission for this option. MY QUESTION: What are my bank's responsbilities for monitorying these ATMS and their risk? Even our customers know very little about the ATM (amt. of cash in them, how often serviced,cash dispensed, etc?

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eBanking / Technology
#1725069 - 07/30/12 11:26 PM Re: Privately Owned ATMs [Re: Golfer9]
rlcarey Offline
10K Club
Joined: Jul 2001
Posts: 74,768
Galveston, TX
How can you possibly monitor these ATMs when your customer has nothing to do with them except they get a spiff on each transaction or a monthly fee? I don't think it is any of your concern unless your customer is involved in the actual transactions in some way.
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