Welcome to the Ocean ATM Blog

Wells Fargo is giving consumers a paperless option for ATM receipts.

The company said today it's the first bank to give customers an option to have their ATM receipt sent immediately to their e-mail account or to a Wells Fargo online account inbox. Users can choose the option at the end of their transaction. The e-mail will include an image of the transaction receipt.

Wells quietly rolled this out to San Francisco users last month and is now feeling good enough about the program to trumpet it. Jonathan Velline, head of ATM banking for Wells, said about 7-8 percent of users have already started requesting receipts via e-mail.

Velline said the move to e-mail fits the lifestyle of many tech-savvy customers and it also provides green benefits with the reduction in paper.

"Customers are used to online and mobile banking to track their finances so figuring out ways to move the ATM channel into the way they're working is important," said Velline. "People are also looking for ways to be greener but they the want data on the receipts so email is a logical solution."

Velline said the move to e-mail also helps with litter around the banks.

To make use of the free service, a customer must also sign up for an online banking account. The e-mails receipts will be sent to a customer's secure Wells Fargo online inbox or to the e-mail account attached to their online account.

Velline said the rest of the Bay Area will get the e-mail option later this spring. The service will go nationwide sometime later this year.

Read more: http://www.sfgate.com/cgi-bin/blogs/techchron/detail?&entry_id=57478#ixzz0iHAFbDS5

Nautilus Hyosung America names new president, CEO

Nautilus Hyosung has named a new president and CEO for its base in North America.   Charles Jung Sr., executive vice president of Nautilus Hyosung, has been named president and CEO of Nautilus Hyosung America Inc. Jung will assume responsibility for Nautilus Hyosung's business in North America and South America and will be based at the U.S. headquarters in Coppell, Texas.   Jung replaces former Nautilus Hyosung America president and CEO Chan Park, who has been at the helm of U.S. operations since January 2007. Park led the company through growth, which included Nautilus Hyosung's ATM partnership with Citibank. Park will now oversee global finance, human resources and procurement for Nautilus Hyosung in Korea.   According to a statement released by Nautilus Hyosung, Jung previously served as the senior executive advisor for Nautilus Hyosung.   Jung is a graduate of Seoul National University in Korea and holds a Ph.D. in computer science from Syracuse University. He also holds a master's degree in business administration from the University of Texas in Austin.   Before joining Nautilus Hyosung in 2008, Jung worked for IBM in the United States for more than 17 years. While with IBM, he held various positions, including roles in sales, marketing and product development. He also served at Cap Gemini Ernst and Young Consulting as a senior vice president for Korean businesses.   In 2002, Jung served as a senior vice president at Samsung Electronics, where was responsible for the IT solutions business.

• ATM(s) are supplied free of charge
• This program is self-funding and self-sufficient. All aspects of operating the ATM(s) including cash management and maintenance are handled by Ocean ATM
• More cash in visitor's or resident's pockets could mean less credit card transactions which saves local merchants money on credit card processing fees
• A portion of the surcharge fees goes directly to the township resulting in additional revenues

This is a no risk program with significant income potential. We have case studies that detail further how this program could help ease your budgetary concerns this year.

Please contact us at paris@oceanatm.com for more information.

One of the most common service issues that ATM machine owners encounter, is the bill jam.  Bills can get jammed for a variety of reasons, most commonly rips, tears, folds, tape on bills and staples.

Also, brand new bills may have a tendency to stick together so make sure to separate, or fan your bills before loading.

In the video below, Ocean ATM's Service Manager Mike Ring demonstrates how to clear a typical bill jam.

Starting Your Own ATM Business With Ocean ATM

Have you ever dreamed of owning an ATM business? Here’s what you need to know before getting your first ATM machine.

It might sound like a dream come true, owning a machine that spits out money on command. But the truth is, you can have your own money machine in the form of an ATM machine. Investing in ATM machines and placing them in high traffic locations is a viable livelihood for persons who are entrepreneurial, have the money to invest in the machines, and the drive to find good locations for them.

The advantages of having your own ATM machines are numerous. It’s a business that doesn’t require employees or a storefront and the start-up costs are relatively low when compared with many retail operations. Plus, you can operate an ATM business while still holding down another Here’s a brief outline on how to own an ATM machine:

Determine how much money you have to invest in your business.
ATM machines can cost anywhere from several thousand dollars up to $6500 dollars each. If you’re not prepared to make this type of investment, don’t be discouraged. You always have the option of leasing your machines on a monthly basis for around $100.00 each. Once you know how much you can afford to spend, get price quotes on ATM machines from sites such as buyerzone.com or simply do your own search online for ATM machine suppliers.

Find locations for your machines.
Before taking the step of buying your first ATM machines, you need high traffic locations for placement. Don’t make the mistake of purchasing a machine with the intention of locating a site after it arrives. You don’t need an empty ATM machine to store in your garage or basement. Make a list of convenience stores, gas stations, restaurants, bars, and large retail stores in your area that get enough daily traffic to support an ATM machine. Approach the owner and ask if he or she would like the benefits of a free ATM machine in his or her store. It’s a win/win situation for both you and the owner. The owner will benefit from their customer having ready access to cash to spend in the store while you’ll benefit from the transaction fees. When possible, it’s best to place ATM machines indoors for safety and security reasons.

Write a business plan.
Don’t skip this step. A plan is essential for being successful in any business. The ATM business is no exception.

Select an ISO
You’ll need the services of an independent sales organization or ISO to process your transactions for you. One organization that can help you find an ISO is the NAAIO (The National Association of ATM ISO’s and Operators) which can be found through a Google search. You’ll want to do your research by interviewing a variety of companies since you’ll generally establish a contract with them for a period of one to several years.

Decide how and when to service your machines
You’ll need to place money in your ATM machines which can be done through your own finances or borrowed from a bank. After a transaction is completed, the funds will usually be deposited back in your bank account within 2 days. You can generally get by with adding enough cash to get you through a 48 hour period. Of course, you’ll be making your money through the transaction fee that’s charged to the customer each time they use your ATM machine. Don’t forget about safety and security. Security is of the utmost importance when servicing machines. If your ATM’s are to be placed in outdoor locations, you may want to consider using the services of an armored guard. You’ll also need a plan for troubleshooting machines should they need repair. This should all be outlined in your business plan.

Once you know how to own an ATM machine, you may feel you need more guidance. You can also enter the ATM business by purchasing an ATM franchise. A franchise can guide you through the process and help you find good locations. The downside is you’ll be paying an ongoing franchise fee which will eat into some of your profits. Be sure to do your research and write a business plan before even considering purchasing your first ATM machine. Now that you know how to own an ATM machine, you can use it as a basis for further research before taking the all important step of purchasing your new machines.

ATM Cash Machines - Get One For Your Store

Why should you offer the convenience of in-store banking to your customers? For the simple reason that an Automatic Teller Machine will also provide you with more convenience as a store or business owner. By buying an ATM, you can increase your profits with little effort, attract more customers, keep regulars coming back, and even cut down on the time you spend bookkeeping.

Nautilus Hyosung 5050

ATMs are guaranteed to make you money via surcharges. A surcharge is a small fee tacked onto each withdrawal a patron makes. This fee ranges from one to three dollars and, unless you choose to rent a machine, it’s all yours to keep. Since maintenance fees for your ATM rarely cost more than a receipt roll once every couple of months, you’ll pay off the cost of your machine very soon, and the rest is pure profit in your pocket.

If that doesn’t sound good enough, its been proven that people who use ATMs are more likely to spend the money in the store they withdrew it from. Cash in a customer’s hand means more in your register at the end of the night. People are also much more likely to buy on impulse and more small ticket items, than if they had access to their credit card or checkbooks alone. The option of having dollars on hand simplifies the process for both the customer and you.

ATMs have a magnetic pull, bringing in new customers who would normally waltz pass your store at any other time. Think of an ATM as free advertising. It will increase footfalls and increase new business for your store. And if you’re fortunate enough to be an area that is has few other cash machines, your store has the potential to become an essential pit stop or landmark.

For those patrons who come in just to withdraw cash and don’t buy from your store, you’ll still be collecting a surcharge. If you have the option of providing an outdoor ATM, it will provide you with profits twenty-four hours a day, seven days a week. It’s a win-win situation for you and your customers.

Imagine closing your books at the end of the day with less checks and credit card charges to deal with. No bounced checks, fees, or further action is required if more patrons are using cash for their purchases. To further encourage the use of your ATM and cash in general, you could do what many stores are now doing and opt for a nominal charge on credit cards or offer some items as cash-only, such as lottery tickets.

If you’re still unsure about the benefits of an ATM, many companies offer renting or lease options, so you can test one in your store without committing to the expense of purchasing it. Cash machines are also available in different sizes, so they can fit into any store’s layout and size. Some of the newer ATMs even have advertising space for sale on them, when not in use by a customer. You could even get a machine that prints out coupons for products available in your store and entices customers to put the cash they just withdrew back into your business. There’s no reason not to invest in a cash machine for your store Savvy business owners know that buying a cash machine for their store is a great way to boost sales and profits.

Does Your Business Need an On-Site ATM Machine?

So you’re wondering whether or not its worth buying an on-site ATM machine for your retail store or other business? The best way to find an answer to this all important question is to measure foot traffic in your vicinity, and determine the number of customers that will see and use the machine on an average day.

To justify your multi-thousand dollar investment in an on-site ATM, you will need to place the machine in a prime location where it will be seen by hundreds of people on a daily basis.

Another point that might factor in to your decision is your business’s reliance on cash. If your retail locations do not accept alternate payment methods such as checks, credit, and debit cards, an ATM could be an especially valuable way to increase revenue.

If you do accept alternate payment methods, you should remember the fact that installing an ATM will likely reduce usage of your credit card processing systems, potentially cutting down on processing costs and ultimately saving you money.

On-site ATM machines aren’t for everybody, and if there are one or more other ATM machines within close proximity to your store, installing another one may not do your business much good. If your customers often find themselves short of cash, however, and need a quick and convenient way to refill their wallets, the benefits of installing an ATM could be incalculable.

ATM Machine Boosts Your Profits

Buying an ATM machine for your store or business is an inexpensive and hassle-free way to produce major profits and increase foot traffic. Customers who withdraw cash from stores with ATMs have been proven to spend significantly more than other patrons. In addition to luring more customers, ATMs create profit through surcharges, which are set by the establishment, bringing in money for minimal effort.

Hyosung Mini-Bank 1500

Although it might seem that these machines are everywhere, a strategically placed machine will still draw customers. Often you only need a few customers each day before you begin to see your profits rise. Buying an outdoor ATM can even bring in the money 24 hours a day. If neighboring stores have cash only policies or limits on credit card use, that means you’ll be benefitting from their customers dropping by your store as well.

If you’re concerned that people will come to your store purely to use the machine, remember that they are more apt to spend cash in hand than use a credit card, especially for smaller purchases. Even if a customer chooses only to use the ATM machine in your store rather than purchasing any goods then that cash might persuade them to buy an item they normally wouldn’t want to put on credit. These small ticket items can add up to big profit that you otherwise would be missing out on.

To encourage people to utilize your machine, you may also choose to enforce minimum amounts for credit purchases, charge a small fee, or refuse plastic altogether. Some businesses offer cash-only items like lottery tickets to further push people towards the ATM. While these methods can improve your sales, use them with caution as they can result in alienating certain consumers.

To further capitalize on your machine, there are advertising opportunities available. Companies often buy ad space in the form of video and audio on machines. So now your ATM can work for you even when it’s not in use. Some can even be programmed to print coupons for your store, further enticing customers to spend the cash they just received on some of your products.

Although ATMs can lure in customers, surcharges will account for a large percentage of the profits. You may set whatever surcharge you deem fit, although some ATM companies will split a certain percentage. If you choose to buy your own ATM, it will be costly at first, but they can pay for themselves quickly, and you won’t have to fuss with confusing contracts.

The more cash that flows into your store the more benefits you will reap. Dealing with checks and credit cards involves hidden fees, penalties, and extra paperwork. Not only will buying it bring in new customers and keep regulars returning, but you’ll be receiving work-free surcharges. And with numerous contract options, machine sizes, and available services, owning and maintaining is even more stress-free. Often times you won’t even have to worry about changing the receipt paper. You do enough work already and now let an ATM do some for you.

An ATM machine has the capability of generating huge volumes of foot traffic wherever they are present. This gives the opportunity to store owners and businessmen to increase their profits and existing customer base. To learn more, about custom ATM solutions and Hyosung, Tranax, and Triton ATM machines, visit www.oceanatm.com

Buy an ATM Machine - Do's and Don’ts of Installation

When you decide to buy an atm machine one consideration you should make is where you are going to place it in your facility. For the purpose this document, we will be discussing convenience stores, but most of the topics will relate to anyone who want to buy an atm machine and place it in bars, hotels, amusement parks, etc.

After you buy an atm machine, when you select your installation point, you should consider access both by customers and persons who would do harm to your machine. A machine needs to be as visible as possible so that people who are not aware you have a machine are able to find it without looking. This promotes the possibility of impulse use. Many customers will come into your store with the intent of paying for gas and getting a soda and realize that you also sell food items such as burritos and hotdogs. If they dont have enough money on them, they may elect to make a withdraw from the machine to satisfy there impulse purchase of a soda, hot dog and chips, thus increasing your sales. In addition there original intent may have been to use a credit card and when they see the machine or sign, they might decide to get some pocket cash and then pay for the items with the cash instead of using a credit card which saves you on credit card processing fees.

You should select a highly visible area of your store when you buy an atm machine where the customer will see the machine immediately. You should pick a spot where the customer has easy secure access so they dont worry about someone seeing them enter there pin number. You should pick a spot where it is NOT easily accessible by breaking a window and throwing a chain around it so they can jerk it out of its mount ( which is the most common way a machine is stolen ). You should select a spot next to impulse items such as chips and drinks when possible. Do not put it among other machines where it blends in, they customer will simply scan right past it when they are looking around the store. Instead, try to place it where nothing blends in with it such as next to fountain drink machines or at an end cap near the entrance.

ALWAYS, ALWAYS, ALWAYS bolt the machine to the floor after you buy an atm machine. Many store owners want to leave it unbolted so they can move it to sweep and buff there floors. This is absolutely the worst idea you can have. A customer comes in a uses the machine and realizes its not bolted down, they can come back that night, break your window and carry the machine out the door before the police are even notified your alarm went off. It is highly recommended that you install a video recording system in your store if you are going to have an atm machine. This will usually deter most thieves and the money you save by reducing your shoplifting will almost always pay for the equipment in a year or so.

Signage is also important. Put stickers on your gas pumps and entrance doors of your store. I usually put stickers on the cooler doors of beer and soda when I buy an atm machine for a store. You should also have signage on the store sign by the road as well as lighted signs in the window to attract customers who dont know you have decided to buy an atm, they may be driving past you to go to another store to use a machine.

Article by Clifford Smallwood