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1. Is an ATM right for my business?
2. Who fills the ATM with cash?
3. Which cards does the ATM accept?
4. Where would I locate my ATM?
5. Is an ATM a security risk?
6. What if a customer has a problem with the ATM?
7. What fee do customers pay to use a Spark ATM?
8. Will I do enough transactions?
9. What if the ATM breaks down?
10. Will the operation of the ATM take me a long time each day?
11. How much cash do I put in my ATM?
12. How long does it take for the dispensed cash to reach my bank account?
13. What are the insurance implications of hosting an ATM?
14. What do I do if the ATM swallows (ie retains) a customers card?
15. I’m definitely interested in hosting an ATM, but want to know more before making a final decision?
16. Once I’ve signed up, how long will it take for my ATM to be installed?
17. Will I be able to reconcile my reimbursed cash?
1. Is an ATM right for my business?
The answer is probably 'yes'. ATMs are located in almost every location that is visited by the public including convenience stores, supermarkets, liquor stores, pharmacies, delis, bars, nightclubs, currency exchangers, cinemas, hotels, entertainment venues, restaurants, retail stores, hospitals, post offices and other venues.
During our site survey, we will address this question and also survey the surrounding area for competing ATMs, review your customer base and business profile and agree on the best location to install the ATM.
Refef to the Benefits section for an overview of all the benefits you can expect from hosting your own ATM.
2. Who fills the ATM with cash?
You fill the ATM with the cash takings from your business. It's often easiest to think of the ATM as being just another till. However you only need to put in enough cash to last each day - for most businesses this will be around R2,500 - R10,000.
Your current cash flow probably goes something like this:
1. Cash from customers goes into tills
2. Cash from tills is then transferred to night safe at close of business
3. Next day, cash float returned to till - rest of cash is taken to bank (bank charges you to bank this cash)
The same happens once you have your ATM except that each morning the notes you have are now 'banked' into your ATM rather than you taking them off to the bank (as in point 3 above).
Customers withdraw this cash from the ATM during the day and then at night when you 'close' (z read) your tills you also 'close' the ATM. The withdrawn cash is transferred direct into your bank account.
A major benefit of this is that there are zero bank charges for this transfer! This alone can save many business owners R1000s per year.
Having closed the ATM at night, you then remove any remaining cash from the machine and place them in your night safe, just as you currently do with cash from the tills.
Finally you simply leave the safe door of the ATM open overnight, much like you may already leave till drawers open overnight.
3. Which cards does the ATM accept?
All South African & International Bank, ATM, Debit & Credit cards are accepted. Diners Club, American Express, Visa and Mastercard are all accepted.
4. Where would I locate my ATM?
An ATM location should be in a highly visible, well-lit, busy and safe position in your premises to attract as many customers as possible to your ATM. During your site survey, Spark ATM Systems will assist you in determining the optimal location for your ATM.
A Spark ATM occupies a footprint of only a quarter of a square metre (55cm D x 45 cm W) and is typically located next to a wall or pillar, in a high visibility location. The cash cassette is roughly the size of a shoebox and measures 26cm D x 24cm W x 13cm H and fits in most office safes.
5. Is an ATM a security risk?
Because the ATM is merchant-filled, the level of cash in the machine is controlled by you. You therefore only put as much cash in the ATM as it needs (generally up to R10,000 at any one time), so the amounts in the machine are very small compared to bank ATMs in the wall. For retail locations, the cash container is removed and the ATM door is left open overnight to publicly display that it is empty. Furthermore, the cash is located inside the ATM in a secure safe. These factors combine to make your ATM secure and an unprofitable and unattractive target for thieves.
Refer to our Security section which gives a detailed overview of ATM Security
6. What if a customer has a problem with the ATM?
If the problem relates to their account, simply advise the customer that they need to contact their bank and the problem will be resolved. If the problem relates to the ATM machine itself, simply contact our Customer Call Centre and one of representatives will gladly assist you.
7. What fee do customers pay to use a Spark ATM?
Your customers will pay their bank's regular Saswitch fee. This is the same fee that they would pay if they use any ATM other than their own bank's ATM. Each bank sets this fee individually.
8. Will I do enough transactions?
As illustrated in the ATM Return on Investment section, the level of transactions required for your ATM to make you money is very low. An ATM is beneficial if you achieve approximately 200+ transactions per month.
9. What if the ATM breaks down?
Your ATM is specifically designed for everyday use and has a very low level of down-time. However, should the machine break down, we guarantee that we will return it to a working condition within 48 hours. Naturally, you won’t pay a cent for this service.
10. Will the operation of the ATM take me a long time each day?
Quite simply, No! Because of the extensive development work Spark ATM Systems has completed to simplify the process, our customers tell us that on average, the morning set up takes just 2 minutes and the evening close around 3 minutes. Please note that other brands of ATM may take significantly longer to operate each day (up to half an hour). Also, other brands of ATM require that you close your ATM each day otherwise you don't receive your cash reimbursement. Regardless of whether or not you do the Day Close on a Spark ATM, you will be reimbursed for daily dispensed cash.
11. How much cash do I put in my ATM?
Most people assume that an ATM must need filling with 1000s of Rands. This is true if a cash-in-transit company fills your ATM only periodically (ie every 2 weeks) In this case the ATM may well be filled with R300,000 - R500,000! And this sits in the ATM 24hrs per day - something of a major security worry to most people!
However, Spark ATM Systems' merchant-filled programme means that you only put enough cash in the ATM to last you each day - and then nothing is left in the ATM overnight. For most businesses this means that they are only filling the ATM with between R2,500 - R10,000 per day, depending on your individual level of trade. This cash comes from your takings and is 'banked' into the ATM each morning, instead of taking it to your bank.
12. How long does it take for the dispensed cash to reach my bank account?
Cash that is dispensed by your ATM for every 24 hour period ended 7pm each evening is transferred directly into your nominated bank account the following day. These funds will reflect in your account that evening or the following morning, depending on who you bank with. All transactions for the weekend are batched and transferred on a Monday morning.
13. What are the insurance implications of hosting an ATM?
Because you fill the ATM with your own cash, there is no extra cash being brought on site. Therefore your current insurance policy for cash should still provide the cover you require. However we always recommend you inform your insurer prior to installation to avoid any confusion.
Spark ATM Systems provides a full parts & labour warranty for the ATM itself (i.e. the hardware), including all accidental or vandal damage. This warranty extends for the lifetime that the ATM is processing through Spark ATM Systems so you'll never have any costs to keep the ATM in working order.
14. What do I do if the ATM swallows (ie retains) a customers card?
Unlike a traditional 'through the wall' bank ATM that 'sucks' the card into the machine, the Spark ATM uses a 'dip-card' reader. This means that the card never fully enters the machine, the customers fingers never actually let go of the card and so it is impossible for the card to become jammed or be retained. This is a deliberate design feature to ensure that retailers never have to deal with retained cards (or angry customers!)
15. I'm definitely interested in hosting an ATM, but want to know more before making a final decision?
You can either call Spark ATM Systems directly on 0861 114 751, email us on info@sparkatm.co.za or complete the online Spark ATM Enquiry Form
We will then contact you and arrange a convenient time to visit your premises and perform a free site survey.
Whilst on site we will also be able to answer any other questions you may have and will give you an independent opinion as to the viability of having an ATM in your business - we take into consideration competition from other ATMs, location, business type, customer numbers etc to give you an informed view as to the likelihood of the ATM being a success.
16. Once I've signed up, how long will it take for my ATM to be installed?
Once we have all the relevant application forms and paperwork from you it normally takes around 2-4 weeks to get your ATM installed so you can start benefiting from increased footfall, increased sales, bank charge savings and transaction revenue as soon as possible.
17. Will I be able to reconcile my reimbursed cash?
Of course you will. The ATM prints a Day Close report, which allows you to reconcile your daily reimbursed cash. You will also receive a detailed monthly statement which will clearly lay out your day-by-day transaction count and reimbursed cash amount.
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