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#2134128 - 06/13/17 05:07 PM Privately Owned ATM's
Jennifer Offline
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Jennifer
Joined: Dec 2014
Posts: 164
The business indicates they do not own the ATM, but they do the servicing via their contract. The contract is not signed by the ATM provider and the business says this is "all they have and can obtain".

Second - ATM settlements are running $15 - $20K monthly; however, cash out's to replenish are only $5,000 - $7,500. The business indicates they are supplying the replenishment with their daily sales.

I see way too many red flags with this. Doesn't the guidance request that the settlements and replenishing need to be balanced for risk mitigation?

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#2134132 - 06/13/17 05:13 PM Re: Privately Owned ATM's Jennifer
RockChucker, CAMS Offline
Diamond Poster
Joined: Jul 2013
Posts: 1,569
The Country
Without having a way to balance the ATM ACH credits into the account and the Cash Out activity, it is very difficult to feel confident nothing fishy is going on.

You need to get things to a point where you are comfortable with the activity. If this means you ask them to get their cash to fill the ATM exclusively from you then you work that out with the business.
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