Category: ATM Benefits

  • Why Having Financially Healthy Employees is as Important as Medically Healthy Staff

    “Only about 30 percent of your employees are doing well. The rest need help.”

    Imagine hiring the brightest doctor in the nation to come and assess your employees. After surveying each one, doing a complete examination, and running a series of tests, he comes to you with the news that 70 percent are unwell. How would you respond? Would you get the care and attention to make the company a more healthy workplace? Of course, you would!

    Unfortunately, this statistic isn’t imagined, but it may not be a problem for physicians to solve. According to a recent article, these numbers reflect the financial health of most Americans. Financial wellness is often overlooked but plays a critical role in the health of any organization. Not buying it? According to data from SUM180, an online financial planning service, 29 percent of employees admit to missing work to deal with stress caused by their own finances. That has a huge impact on your bottom line.

    Employers often think their industry is the exception to the rule despite data proving otherwise. In the article cited above, a survey by research provider Raddon found that 44 percent of responders said they were “very” or “extremely” literate, but when given a financial quiz, only six percent scored an “A.” And to open your eyes on how bad off employees are, a late March report showed 45.4 percent of consumers had $2,500 or less in savings, while 15.6 percent had no savings at all.

    But there is hope, and it’s easier than ever to help your staff. ATMatWork can match your company with a local bank or credit union that will offer a surcharge-free ATM in the workplace for your staff and bring solutions directly to your doorstep. Having a surcharge-free ATMs in your break room will immediately save your employees money. To see more data and the results your company could obtain, download our case study.

    Having a bank or credit union branded ATM in the workplace not only provides staff with savings, but they will consistently educate your employees. Partnering with ATMatWork means you have immediate access to financial pros for questions that can reduce the financial stress of employees. Many offer programs and discounts for the needs of employees that will bring the overall financial wellness of your company to a healthy level. From savings to mortgages, your company will have a financially healthy team working on your behalf.

    To learn more, call at 866.440.4700 or email us at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.

  • Protect your Employees and Provide a New Benefit with an ATM in the Workplace

    Since the first case of the novel coronavirus (COVID-19) was confirmed in the United States in January 2020, life as we know it has changed dramatically. Social distancing, plexiglass barriers, face masks, frequent hand washing, the use of hand sanitizer and meetings via Zoom have all become the new norm.  

    As companies begin to reopen, how to adequately protect employees is on the minds of executives. In addition to following the Centers for Disease Control (CDC) guidelines for workplace safety, many companies are looking for creative ways to make their staff less anxious as they return to work.

    ATM at Work: A Creative Way to Safeguard Staff and Add a Benefit

    There are many advantages to having an ATM in the workplace. It is a convenient way for employees to get cash and do routine banking, it saves employees valuable time, helps workers save more of their paycheck with reduced or no fee transactions, but most importantly having an ATM on-site helps to keeps staff safer in our new post COVID-19 world.

    For many employees, especially hourly employees, cash is essential. According to the latest statistics from the Federal Reserve, 42% of transactions under $25 and nearly 50% under $10 are in cash, and households earning less than $25,000 annually prefer cash to other payment methods.

    Having an ATM in the workplace, exclusively for staff use, is a great way to ensure the safety of your employees and is a benefit your employees will appreciate.

    Social Distancing & Disinfecting – With an on-site ATM, employers choose the safest location for the machine. The company controls other variables, as well, such as how often it is cleaned and sanitized. They can also limit who has access to the ATM, establish perimeters for social distancing, and provide guidance to restrict traffic as needed. Unlike public ATMs, the employer can directly monitor all of these procedures. 

    Cash is Safe: Viruses Don’t Spread Easily on Surfaces – Despite early information that came out during the pandemic, cash is safe according to medical experts and central banks around the globe. The CDC also recently stated that “the virus does not spread easily on surfaces” such as ATMs, although it’s still recommended that anyone touching a foreign surface wash there hands.

    Time is also on the side of company ATMs when it comes to the transmission of any virus. Most viruses live on porous surfaces for no more than 24 hours. Its unlikely employees will touch cash that has been handled by anyone in that time frame. The cash withdrawn from an on-site ATM is most likely to have sat in the machine for much longer than the time any virus would be present.

    Reduced Physical Danger – Beyond the immediate health concerns, an ATM in the workplace will also lessen the physical dangers that employees face using public machines. As life returns to normal, grabbing cash and running errands after a shift or during the lunch break is common for most people. An on-site ATM offers your employees more than just a clean environment, there is little chance of thieves having access to the machine and hacking card numbers. Also, more violent crimes – such as robbery – are dramatically reduced when using an ATM in the workplace.

    Time Saver for Employees – Another advantage of a workplace ATM is the time-savings to employees. Hourly employees can be profoundly positively affected when employers provide an on-site solution. A recent case study conducted at a company in Texas demonstrated the impact. The Texas company employs 650-700 workers and has two full-time shifts. ATMatWork estimates that employees at the location saved approximately 400 hours on average each month. It was demonstrated to be crucial for hourly employees who only have a half-hour for lunch and short breaks during the day.

    Saving More of Their Paycheck – With ATMatWork offering many surcharge-free options, employees and staff can save more of their hard-earned paycheck. The financial advantages of an ATM in the workplace for employees are evident in the study mentioned above. The Texas employees completed 1,325 transactions in the first month. While 517 of these were balance inquiries, which are always free, 732 cash withdrawals were performed ‒ saving employees a total of $5,480.66 in surcharge and bank fees. The employees had previously been using ATMs off-site before the installation and paying an average fee of $4+ per transaction.

    As employees return to work, now is a great time to add an ATM for employee use – to ensure the safety of staff and provide a cost-effective benefit that will help to reduce anxiety and help staff save more of their hard earned paycheck.

    To learn more, call at 866.440.4700 or email us at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.

  • Thank your employees for their hard work and help them keep more of their paycheck with the benefit of an ATM on-site!

    5 benefits of having an ATM at work as an employee perk!

    1. Cash for lunch, vending and the weekend

    2. Saves time. Allows employees to remain at work

    3. Helps staff keep more of their paycheck

    4. Safe, secure environment for employees to do ATM transactions

    5. Competitive advantage for recruiting

    FREE to the Employer | 100% Hassle-Free for HR Staff

    Email us at sales@atmatwork.com to schedule a personalized 10-minute consultation

  • 4 Benefits to Having ATM Services in Your Hospital

    Most hospital visits are unexpected and chaotic for the patient as well as their family and friends. In the rush to get to the hospital, important items ‒ such as cash for the cafeteria, vending machines and other necessities can be left behind.

    Providing convenient access to cash on the hospital campus ensures that family members can use the facilities without having to leave their loved ones alone.

    Easy access to ATMs on hospital grounds benefits employees as well. Working long shifts, especially the overnight shift, can be harrowing and doesn’t leave staff much time to go to the closest bank branch to do routine banking. Providing access to an ATM ensures that staff have an easy and convenient way retrieve their money and allows both day and night shift workers to make the best use of their breaks and free time.

    Benefits of having ATMs on hospital campus include:

    1. Easy Access to Cash for staff, patients and visitors

    2. Convenience for Staff who work long shifts, especially the night shift, and family members who don’t want to leave their loved ones

    3. Time Savings for staff and visitors, allowing them to stay on campus

    4. Maximize Safety as the ATMs are located in safe, secure locations

    Satisfaction of all parties at the hospital is crucial to the well-being of the institution, and providing ATM services not only satisfy patients, family, visitors and staff, but would add to the overall morale of the establishment.

    FREE to the Company & 100% Hassle Free

    Give us a call at 866.440.4700 or send us an email at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.

  • Why Credit Unions Should Have Surcharge-Free ATMs on University Campus’

    As we move into an increasingly digital world consumers have more banking choices than ever before such as paycards, pre-paid cards, digital-only banks and payment apps such as PayPal, Venmo and Zelle. This means credit unions have had to get creative in order to attract new members.

    One of the most cost-effective and easiest ways to attract new members – particularly Millennials and Gen Z consumers is to offer branded, surcharge-free ATMs on university and college campus’.

    Despite the hype, cash is still the most popular payment method for consumers 18-25 years-old and for small-value purchases. According to the Federal Reserve’s 2019 Diary of Consumer Payment Choice, cash represents nearly half of all payments under $10 and 42% of payments less than $25. And increasingly consumers have come to expect the quick, convenient, free cash access wherever they go.

    With almost 7 million U.S. students enrolled in undergraduate programs and numbers expected to rise another 3% in the next decade, colleges are a hotbed for small cash transactions. For a college student on a budget, ATM fees can add up quickly. Professors and university staff are also beholden to campus economy, often needing cash access as much as students for everyday items like vending machines, the cafeteria and bookstore supplies.

    Having easy access to a surcharge-free ATM provides major benefits to students, especially for money conscious Millennials and Gen Z consumers, and university personnel alike. Custom branded ATMs on college campuses are a cost-effective way for credit unions to attract new accountholders and grow their membership base.

    • Consumers Love Saving Money. College students, especially those on a budget, can save thousands of dollars per year in fees when using a surcharge-free ATM. Providing branded, surcharge-free ATMs on college campuses are an easy way to attract money conscious Millennials and Gen Z, as well as university staff.

    • Convenience. Convenience. Convenience. Easy access to an ATM provides users with convenient access to payday funds and allows them to complete their daily banking without a trip to their financial institution. With surcharge-free ATMs in locations they frequent, college students and university staff are more likely to switch to the credit union that sponsors the ATM they use most often.

    • Time Savings. With no need to leave campus in search of an ATM, students who may not have access to a car or are juggling work and school are better able to manage their time. Providing convenient ATMs on campus are a perk, college students will appreciate. Combined with customized branding on the ATM, signage, on screen advertising and optional brochure holders, ATMs on college campus’ will enhance a credit union’s brand exposure.

    With more than 100 years combined experience, the professionals at ATMatWork understand credit unions no longer wish to own or manage ATMs. That’s why our program is hassle-free with no need for credit union staff to load cash or do routine maintenance. There are no upfront out of pocket expenses and our program includes a fully branded bank grade ATM with a 15” monitor that is surcharge-free for members… and most importantly will help grow your membership.

    Give us a call at 866.440.4700, send us an email at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having custom-branded ATMs on university campuses or on-site for employees at SEG locations.

  • Adidas Expands Surcharge-Free ATM Access for Employees at Two Additional Locations

    Selects ATMatWork to provide additional ATM access for their employees

    After successful providing easy, surcharge-free cash at their main office in Spartanburg, SC as an employee benefit, Adidas has expanded the program to include staff at two nearby distribution hubs.

    In 2018, Adidas management made the decision to expand their employee benefits by installing an ATM at their South Carolina headquarters. They partnered with ATMatWork, which specializes in providing ATMs as an employee benefit, and decided to go with the popular Allpoint option to provide the maximum benefit to employees.

    According to Bankrate, the national ATM surcharge average is $4.69, and the out of network fee charged by financial institution for using an ATM, not affiliated with their bank or credit union, is around $2.50 per transaction. Allpoint, the largest surcharge-free ATM network in the U.S., offers fee-free ATM withdrawals to account holders of more than 1,200 banks and credit unions, and the most popular paycard providers.  That’s a savings of more than $7 per cash withdrawal.

    Some of the benefits to Adidas employees include:

    • Saves staff thousands of dollars in surcharge & banking fees

    • Safe, secure environment for ATM transactions

    • Saves time. allowing employees to remain on-site

    • Easy access to payday funds

    • Cash for lunch, vending and the weekend

    Some of the benefits to Adidas management include:

    • Competitive advantage for recruiting

    • Keeps employees on-site

    • Cost-effective benefit

    • Helps employees keep more of their paycheck

    • No upfront costs for the company

    • No extra work for management, ATMatWork handles it all

    Give us a call at 866.440.4700, send us an email at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.

  • Employees Want Alternate Payment Methods, Financial Wellness and Convenient Access to Cash at Work

    In the last several years, employers have begun offering a wider variety of benefits to inspire staff, retain employees and attract quality talent. A recent study by ADP Institute discovered that traditional perks, such as pay raises and medical benefits, are not the only offerings required for employers to remain competitive in today’s job market.

     According to Evolution of Pay, employees desire easier access to their earnings, financial wellness and more payment choices. Research shows that nearly 80% of employees are now willing to accept payment via unconventional means like payment cards, which are rapidly growing in popularity.

    With employee expectations for financial wellness growing as well, having easy access to a surcharge-free ATM that is sponsored by a local credit union or community bank ‒ that can provide financial wellness education ‒ is a growing new favorite benefit among employers and employees alike.

    An on-site ATM provides major benefits to employees and employers alike, such as:

    • Employee Savings. Employees can save thousands of dollars each month in surcharge fees when using an employer-provided ATM. This can be especially important to employees using a paycard, who may be limited to the number of withdrawals they can make each month or penalized with out-of-network fee for using other ATMs.

    •  Improved Security. Off-site banking poses a greater over-all risk. An employer provided, on-site ATM offers a private, secure environment where employees can withdraw cash, check balances and complete transfers with little risk to their physical or financial safety.

    • Convenience. Easy access to an ATM means employees can complete daily financial transactions without a trip to the bank, as well as having access to cash for lunch, vending and drink machines. On-site ATMs also allow employees quick access to payday funds.

    • Greater Time Management. With no need to stand in long lines at the bank or leave the premises in search of an ATM, employees are able to manage their time better, which means less time away from work and more relaxing breaks.

     An employee provided surcharge-free ATM offers multiple benefits to both employees and provides employers with a competitive edge when it comes to recruiting and retaining talented staff.

    ATMatWork offers several surcharge-free programs so employer can choose the option that best works for their employees’ individual need, including ATMs sponsored by local financial institutions that can offer financial wellness.

    Give us a call at 866.440.4700, send us an email at sales@atmatwork.com. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer.

  • Using ATMs to Promote Financial Literacy

    One of the silver linings of the financial recession in the mid-2000s was that it was supposed to have taught consumers a hard lesson about the dangers of debt and other financial issues.

    However, statistics from CareerBuilder show that 78% of U.S. workers live paycheck to paycheck and one in four don’t save. And while most people acknowledge the need for emergency savings and a retirement plan, few understand how to attain those goals. A limited number of Americans can successfully implement a budget, leaving many adults in debt with no understanding of how to dig themselves out.

    In a 2015 study by FINRA, participants were asked five questions covering aspects of economics and finance encountered in everyday life, such as compound interest, inflation, risk and diversification principles, the relationship between bond prices and interest rates, and the impact that a shorter term loan can have on total interest payments over the life of a mortgage. Only 37% of participants were able to answer four or more of the five questions correctly – indicating that the majority of Americans are financially illiterate to some degree.   

    Americans Look to Banks & Credit Unions for Financial Planning

    A study by Raddon found that 55% of consumers are more likely to turn to a bank or credit union for resources on financial literacy than a financial adviser.

    The report also suggests banks and credit unions have an opportunity to entice consumers to switch financial institutions by engaging consumers with financial education. And, the best way to market retirement and wealth management programs is in small digestible chunks of information.

    However, the study also notes that financial institutions struggle internally with their support of financial literacy programs, mainly because these programs are expensive. Justifying the cost of educating account holders on financial literacy to upper management can be difficult since return on investment is difficult to document.

    ATMs as a Marketing Channel for Financial Literacy

    Banks and credit unions have been exploring the unique marketing capabilities ATMs offer such as customized screens and signage that help them enrich the consumer experience for some time. As a critical touch point for account holders, ATMs can also be used to educate consumers and market financial planning programs with little or no extra cost to the financial institution.

    Self-service options are also vital to the way younger generations, especially Millennials, manage their money, with statistics showing that mobile banking users are more likely to visit an ATM than a branch ‒ which strongly suggests ATMs are the perfect channel to market important financial services.

    Marketing financial planning programs while consumers are actively accessing their account and considering their personal spending habits makes them more likely to remember the services offered. The ATM also allows financial institutions to track participation in variety of ways, such as requests for information using a unique landing page URL, QR code, Text/SMS response or promotional code on the ATM wrap, screen and the receipt.

    Engaging Consumers at Work

    Employers all over the country are beginning to see the opportunity to enhance their workplace benefits by offering ATMs on-site. The practice is beneficial to employers and employees alike as it provides easy cash access in a secure environment and allows staff to better manage their time.

    By partnering with local companies, banks and credit unions can offer ATMs that allow surcharge-free transactions for account holders, increase brand awareness for the unbanked or competitor-affiliated user, and market their institution with financial education and retirement planning information in the environment where consumers are most likely to engage – the place they make their money.

    To help financial institutions better market financial education, ATMatWork offers:

    • Customized ATM wraps that can include a QR code

    • Rotating ATM screens and welcome screens customized for the institution

    • Static or video signage

    • Receipts that include promotional offers

    • Attached brochure holders for educational materials

    Partnering with local companies to provide employees with easy cash access with an ATM is a valuable resource that banks and credit unions can also use to offer information vital to raising Americans’ financial literacy. And, with ATMatWork’s unique programs it is hassle-free and cost-effective.

    Our experts have more than 100 years combined experience. ATMs is all we do! Contact us today to find out how we can help you build a bank at work program that delivers results.

  • Q&A Interview with SHRM

    What is ATMatWork?

    In today’s tight job market, companies need to get creative to attract and keep talented employees. And, with Millennials and Gen Z entering the workplace, these younger generations are looking for more than just a paycheck. Some companies offer benefits like pet insurance, flexible hours, mental health days and more. ATMatWork offers employers a cost-effective benefit that will save their staff time and money – easy cash access by having an ATM on-site.

    How does ATMatWork save employees money in ATM and banking fees?

    Despite the rise of credit cards and digital payments, cash remains the number one payment instrument in the U.S, according to the Federal Reserve’s Diary of Payment Choice. Cash representing 30 percent of all transactions; 55 percent of transactions under $10 and 32 percent of payments between $10 and $24.99.

    Employees are using ATMs – and the fees they pay for going to the closest ATM can add up quickly. The national average for withdrawing cash is $3.50 and financial institutions charge an additional fee of as much as $2.50 on average for using an out of network ATM. That’s $6 for withdrawing $60.

    ATMatWork offers a number of surcharge-free options that allow staff to get cash for lunch, vending or the weekend at no charge. And, some of the options available also save employees the banking fees as well. We offer Brinks paycard fee-free ATMs, bank or credit union branded ATMs, machines that run surcharge-free networks or free for everyone options.

    Can you provide an example?

    A Corpus Christi, TX-based company, that employs around 700 workers in two full-time shifts, was looking for a better way to pay their employees and save them money. Aware of the fees their employees paid to cash checks, management decided to make the move from paper checks to Brinks Money paycards.

    However, that was only one piece of the solution. They also needed a way to make it easier for their staff to access their funds without having to pay ATM fees and save them time ‒ especially since hourly employees only have a 30-minute lunch hour.

    After reviewing the variety of options ATMatWork offers, the Human Resources Director decided on a surcharge-free ATM that would provide free balance inquiries for everyone, and fee-free cash withdrawals and no out of network ATM fees for the majority of their employees – both those who had bank accounts and those who participated in the Brink’s paycard program.

    Installation of the ATM in the break room was an immediate success. On average, employees complete 1,600 transactions every month, withdrawing as much as $100,000 over the course of a month and save in excess of $4,600 in fees. Having the ATM in the break room also saves employees a great deal of time because they no longer have to leave work to obtain cash for lunch, vending or leave early on payday to go to the bank.

    What are the biggest challenges companies face when implementing ATMs at work?

    Installation of an on-site ATM is easy, hassle-free for management and can be completed in two weeks. ATMatWork owns and manages the machine so there is no extra work involved for management. All the employer needs to provide is an electrical outlet and a place to put it. ATMatWork also provides custom marketing materials to help HR professionals promote the benefits of having an ATM on-site.

    What do you wish more HR professionals knew about ATMatWork?

    Cash remains the number one payment option for Americans, with Millennials relying on cash more than any other demographic. And the less an employee makes the more they rely on cash.

     According to the FDIC National Survey of Unbanked and Underbanked Households, 32.6 million  U.S. households are unbanked or underbanked. In 2017, the survey estimated 25.2% of Americans had either no access or limited access to a bank account or used alternative means such as paycards or pre-paid cards, to access their wages. Virtually all unbanked or underbanked employees belong to households making less than $50,000 annually. These workers, which can least afford it, are subject to fees for check cashing and ATM fees.

     Having a surcharge-free ATM on-site is a benefit that companies can offer their employees that will allow them to keep more of their hard-earned wages. It’s affordable as well. In most cases, the cost of having an ATM on-site is less than what the company pays for just one employee to have health insurance.

    How important are benefits like this in employee retention?

    The cost of ATM fees and out of network fees charged by an employee’s financial institution can quickly add up, and employees know it. If the employer is offering this service, staff are less likely to switch jobs for an extra dollar an hour, especially if their potential new employer does not offer an ATM on-site.

     Human Resource Directors know their employees are using the ATM and understand the benefits once they see it in action for themselves. We frequently get calls from HR professionals, who have switched companies, wanting to add an ATM.    

    For anyone who won’t be able to make it to the ATMatWork booth in Las Vegas, what do you want them to know?

    Give us a call at 866.440.4700, send us an email at sales@atmatwork.com or visit our website. We’ll be happy to walk you through the many benefits of having an ATM on-site for employees and the surcharge-free ATM options we offer. Our staff goes above and beyond and will work with you to find the best option to fit your employees’ needs.

  • ATMatWork Welcomes The People’s Bank & YMCA

    More than an ATM… A Powerful Dynamic Marketing Tool

    The fully branded ATM at the YMCA is more than just a cash dispenser… it’s a Powerful Market Tool that helps the bank to:

    • Grow Deposit Accounts 

    • Enhance Relationships with account holders and local businesses

    • Creates a Better Brand Impression with custom marketing on the ATM

    Affordable & Hassle Free

    No need for the bank or credit union to buy hardware, load cash, maintenance or keep up with compliance. The ATM experts at ATMatWork handle it all for a low monthly fee.

    Download our brochure to learn more about our ATM programs.