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#2219136 - 08/05/19 08:08 PM ATM account use
Susan Offline
Member
Joined: Mar 2018
Posts: 55
Customer (convenience store) has an ATM it owns and services. They have a separate ATM account with us. Similar customers with ATMs have very clear patterns of daily ACH deposits, and weekly (usually) cash withdrawals from the account to refill the ATM. This customer transfers funds back and forth to the operating account, and has deposited some cash and checks into the account.

Thoughts?

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#2219137 - 08/05/19 08:10 PM Re: ATM account use Susan
BrianC Offline
Power Poster
BrianC
Joined: Nov 2004
Posts: 6,085
Illinois
Tell them if they want you to continue providing deposit services, you expect them to find the ATM solely with withdrawals of cash from the ATM account and keep is segregated from operating funds.

Or say nothing and manage the added risk and monitoring headaches this activity pattern will create.
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#2219142 - 08/05/19 09:00 PM Re: ATM account use Susan
Q Offline
Junior Member
Joined: Jun 2015
Posts: 49
Have customers like this. we asked them and they told us the machine is funded from register. Most do this as a convenience as well as avoiding any cash fees from bank. We simply monitor activity for any irregularities.

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