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#2205506 - 02/08/19 05:20 PM Fee for POATM
RVaughn, CAMS Offline
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I am scrambling to sure up our policy and procedures regarding POATM. So I am hoping to get some responses from my peers on:

Does your institution charge a fee to entities that own/operate an ATM? Does your institution require a designated account for those activities? Will your institution entertain the idea of opening an account for an ATM owner who will replenish the ATM from their store cash?
Last edited by RVaughn; 02/08/19 05:21 PM.
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#2205519 - 02/08/19 06:45 PM Re: Fee for POATM RVaughn, CAMS
SmallBankBSA Offline
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We require the entity to have a designated account for the ATM activity and to withdraw the funds from that account to replenish their ATM

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#2205520 - 02/08/19 06:57 PM Re: Fee for POATM RVaughn, CAMS
P*Q Offline

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We have over 50 private ATM customers, at least half replenish themselves from store proceeds. Their accounts are here so I can monitor stated versus actual activity and yes, it's a stand alone account. No fee currently but will be to compensate for the extra EDD required. No fees to be discussed due to anti-trust laws. smile

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#2205538 - 02/08/19 08:07 PM Re: Fee for POATM RVaughn, CAMS
Q Offline
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Does your institution charge a fee to entities that own/operate an ATM? We do not charge any monitoring fee as it does not take up that much time to review. The only extra time it takes is due to the number of ATM owners that we have. There are fees charged based on the amount of cash that is withdrawn as bank will charge for strapped money.

Does your institution require a designated account for those activities? We currently do not but would prefer it. Some business open up separate account which is great.

Will your institution entertain the idea of opening an account for an ATM owner who will replenish the ATM from their store cash? We have plenty of owners that will replenish from store, mostly gas stations.

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#2205544 - 02/08/19 08:35 PM Re: Fee for POATM Q
RVaughn, CAMS Offline
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For your ATM owners who replenish from store cash, how do you reconcile/monitor that activity?

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#2205551 - 02/08/19 09:05 PM Re: Fee for POATM RVaughn, CAMS
P*Q Offline

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We do an annual site visit and ask a series of questions about ATM volume. We compare stated to actual activity. That's about all you can do there. For our larger volume ATM customers (meaning their ATM gets lots of daily usage), when we do our site visits, we look to see if store volume supports the actual ATM volume. In our market place, you'd be surprised how much volume some of our convenience store ATM's get, apparently folks don't mind paying the ATM fees or bank where their fees are rebated.

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#2205553 - 02/08/19 09:19 PM Re: Fee for POATM P*Q
bcompliance Offline
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Originally Posted By P*Q
We do an annual site visit and ask a series of questions about ATM volume. We compare stated to actual activity. That's about all you can do there. For our larger volume ATM customers (meaning their ATM gets lots of daily usage), when we do our site visits, we look to see if store volume supports the actual ATM volume. In our market place, you'd be surprised how much volume some of our convenience store ATM's get, apparently folks don't mind paying the ATM fees or bank where their fees are rebated.


Does your BSA department staff or branch employees conduct the site visits?
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#2205626 - 02/11/19 05:05 PM Re: Fee for POATM RVaughn, CAMS
P*Q Offline

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Branch staff. They also look for additional product sales opportunities during these visits.

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#2205756 - 02/12/19 01:55 PM Re: Fee for POATM RVaughn, CAMS
thomasj Offline
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Pennsylvania
I used to have a lot of ATM owners who replenished from cash on hand or a combination of cash on hand and cash withdrawn from our bank. When dealing with a customer who was replenishing from their own cash, one of the things I looked at was the volume of the ATM settlement transactions. I would add that volume onto their cash deposits for the same time period to see if the total cash was reasonable for their business.

Ideally, you would want to have them deposit all of their cash and withdraw the cash for the ATM as it makes your EDD process much easier. The one situation you don't want to find yourself in is having just the settlement account without having the operating accounts as well. If all you are seeing are ACH credits from ATM settlement and then transfers or withdrawals going somewhere else, it's nearly impossible to do proper EDD.
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