No out of pocket expenses
Bank grade ATM with a 15” monitor
Fully branded ATM – custom wrap, signage & rotating ads
Installation, maintenance & cash loading
Regulatory compliance reporting
Surcharge-free for your members
Serving local employees has never been so easy or so cost-effective!
Email us at sales@atmatwork.com to schedule a personalized 10-minute consultation
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.
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.
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.
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.
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
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.
Reaching new members through brand awareness and visibility is at the forefront of every credit union’s marketing strategy, especially those with a regional and local focus. There are scores of options, but most aren’t leveraging one of the easiest and inexpensive strategies ‒ a bank at work program with on-site ATMs as the centerpiece. When used to the fullest potential, having ATMs as part of a bank at work program creates lasting partnerships and offer an avenue to open new deposit accounts, loans and market products and services.
Prospect Smarter, Not Harder
There are likely many candidates in your existing membership base, such as select employee groups (SEGs) that you may have signed up years ago, that would benefit from an on-site ATM and a bank at work program. The first step is to analyze the SEG’s industry, range of salaries and company size. Working with the Human Resources department will also allow you to fully understand the financial needs of the employees.
However, many credit unions don’t believe they can afford to offer ATMs to every SEG. Providing an ATM to SEGs doesn’t have to be expensive or time consuming. ATMatWork, which specializes in placing ATMs at employee group locations, offers placement options that fit any sized budget ‒ and it’s totally hands off and hassle free for the credit union. There is no need to purchase hardware, load cash, monitor the terminal, send out technicians or carry insurance ‒ ATMatWork does it all.
Tailor Marketing for Each Employee Group
Branding an ATM is one way to build recognition and trust, but don’t stop there. Customizing marketing messages are a simple and effective way to generate new deposit accounts, loans and promote products and services at the ATM. ATMatWork’s unique approach turns the ATM into a dynamic marketing tool with a myriad of changeable content including customizable ATM screens, wraps, toppers and an optional brochure rack. As your marketing messages change, so can your marketing at the ATMs in your SEG locations.
Regular Visits to the SEG
Once your credit union establishes an on-site ATM as part of your bank at work program, use regular visits to maximize the partnership. Being proactive while visiting the location and using face-to-face interactions to educate, inform and engage with the employees is imperative.
With the right approach and the right partner, credit unions can maximize opportunity to communicate to a captive audience of current and prospective account holders by offering a bank at work program with ATMs as the centerpiece.
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.
On-site ATMs for local businesses are a great way for banks and credit unions to increase brand presence. But, when used correctly, they are also a step toward creating a community partnership that develops new accounts and revenue for the financial institution through Bank at Work programs.
Our cost-effective and hassle-free program will help you:
Promote payroll deposit accounts to associates and executives at employee-based locations
Introduce employee-based groups to your products and services
Branded ATM becomes the centerpiece for enhanced relationships with the employee groups
Hands off, hassle free ATM – completely managed by the ATM experts at ATMatWork
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.
Your employees are using an ATM and chances are they are spending a great deal of their paycheck on fees to obtain cash.
Many Human Resource professionals recognize this and that’s why having ATM in the building to give their staff easy access to cash — surcharge-free — is becoming one of the hottest new employees benefits being offered by employers.
Having an ATM on-site Saves Employees Time and Money, Keeps Staff at Work and provides a Convenient and Safe Environment for employees to do their banking. And best of all ATMatWork offers ATM options that are Hassle-Free and, in most cases, less than what you pay in insurance for one employee each month.
Your employees are using an ATM and chances are they are spending a great deal of their paycheck on fees to obtain cash.
Many Human Resource professionals recognize this and that’s why having ATM in the building to give their staff easy access to cash — surcharge-free — is becoming one of the hottest new employees benefits being offered by employers.
Having an ATM on-site Saves Employees Time and Money, Keeps Staff at Work and provides a Convenient and Safe Environment for employees to do their banking. And best of all ATMatWork offers ATM options that are Hassle-Free and, in most cases, less than what you pay in insurance for one employee each month.
Studies show the average employee uses an ATM four to five times each month, typically withdrawing around $60 in cash at each transaction.
However, the vast majority of ATMs in the U.S. are not operated by financial institutions. These “foreign” machines usually result in a fee for use – from both the ATM operator and the ATM user’s bank or credit union. Together these fees average around $6.00 per transaction. This is a considerable investment of funds to get cash.
Paycards are a new and growing trend among employers with 25-35% of U.S. employers switching to the paycard model for employees that are unbanked or do not provide financial institution information for direct deposit. Due to the higher fee rates, these employees end up spending more than the average person when withdrawing cash ‒ and taking home less of the money they have earned.
There is a better way. Companies can help their employees better utilize their funds and save a great deal more of their earnings by offering them a surcharge-free ATM solution ‒ conveniently located within their workplace.
The workplace is one of the safest places for employees to use an ATM. Having a surcharge-free ATM on-site saves employees the risks of traffic, theft and time constraints while providing additional security through its indoor, on premise location. On-site ATMs are also a convenience, whether money is needed at that moment on the job or for use in after hour’s activities.
On site ATMs also provide the added benefit of helping workers keep more of their hard-earned pay check, as well – when they are partnered with a financial institution and/or surcharge-free network like Allpoint or Money Pass. Allpoint, for instance, has over 1400 financial institutions in its network including national and regional banks, and credit unions as well as the leading pay card providers.
MasterCard’s report, “Measuring Progress Towards a Cashless Society” revealed that cash remains the most commonly used method of payment across all ages. This is particularly true for Millennials (those born from 1981 -2000), who currently comprise 33% of the workforce.
Statistics show Millennials are not only technically savvy, they put a great emphasis on convenience. And, as they saw their parents greatly affected by the housing market crash and recession, they have a deep distrust of financial institution. They are the generation pioneering payment alternatives such as PayPal and Venmo – and are more likely to utilize cash than other forms of transaction.
Representing one-third of today’s workforce, it is more important than ever to stay a step ahead of these technically savvy employees – and other companies who may be looking to lure them away. An ATM at work is just one way to provide convenience and incentive, while helping employees keep their hands on more of their income.
Now offering an Allpoint surcharge-free ATM option, transactions are free for employees who use some of the most popular paycards and bank at the more than 1,400 financial institutions that are part of the network.
And best of all the ATM is hassle-free and, in most cases, less than what you pay in insurance for one employee each month.
The mortgage crash of 2008 did a lot more than cause a recession. It created a long-lasting anti-financial institution mindset in a large chunk of America’s younger generation. This change in behavior has led to a gradual increase in the un- and under-banked throughout the US – a number now floating around the 15 million mark.
As Millennials begins dominating the workforce, many employers are faced with the dilemma of finding ways to pay them. Where many in older generations enjoyed the benefits of direct deposit, a lack of bank accounts for younger workers has resulted in a surge of payments by check. However, a study from Workforce Institute at Kronos reported paychecks arrive late for about 15% of Americans and 25% of respondents reported regular receipt of incorrect payment.
It is for exactly these reasons that many businesses have come to rely on the ability to direct pay employees. But, with the rise in un- and under-banked workers, employers are struggling to bring all of their employees into the digital payments fold. The solution for many? The paycards or payroll card.
The idea behind use of paycards is simple. Employers have an electronic way to provide fast funds disbursement as well as an easy way to quickly resolve pay discrepancies. In return, employees have immediate access to their funds on payday, rather than having to take the time to deposit or cash a check. As an added benefit, most paycards utilize the rails of major card networks, allowing the cards to be used for debit transactions.
But, just like checks, paycards are not all sunshine and rainbows. Similar to some bank accounts, there are many paycards that also issue fees to their cardholders. Some of the most popular fee-incurring situations include an ATM usage fee, card replacement fees and low balance fees. In some cases, there are additional charges for not using the card over a certain period of time. In short, they may “have their money” but they have a great deal of difficulty accessing it without loosing a chunk of their earnings to fees.
Fortunately, there are several easy ways for businesses using payroll cards or paycards to help their employees avoid fees while better managing their funds.
Promote Use of Surcharge-Free ATM Networks – Most major paycards are also members of one or more surcharge-free networks such as Allpoint, MoneyPass and CU Alliance. These networks provide nationwide cash access at participating ATMs. Employers can provide a link to the ATM the locator app and information for any network associated with their payroll cards as well as maps, flyers and other reminders to their employees paid via paycards.
Encourage Financial Health – Employers can host workshops and knowledge sessions for paycards employees that help inform attendees about the steps to financial health and freedom including budgeting, investments and knowledge of the fees associated with their payroll cards…as well as ways to avoid them.
On-Site ATMs – An ATM in the workplace provides safe, secure access to cash in a convenient location. The machine can be loaded with one of the surcharge-free networks associated with the paycard in use on-site, offering employees a fee-free way to access their funds – on payday or any day.
Employees often need access to their money right away. However, without a bank account to initiate direct deposit, paycards are one of the only ways to ensure this convenience. Helping employees avoid these additional costs through education, information and on-site ATM programs not only encourages financial independence – it puts more money in the employee’s pockets.
One of the hottest new benefits being offered by employers, having an ATM on-site saves employees time and money, keeps staff at work and provides a convenient and safe environment for employees to do their banking.
ATM options include:
Surcharge-Free for Everyone
Allpoint or MoneyPass Surcharge-Free Networks
Bank or Credit Union Branded
Generic ATM
And best of all the ATM is hassle-free and, in most cases, less than what you pay for insurance for one employee each month.
An efficient work-force is able to get things done safely and consistently. Unfortunately, staying on-task can be a challenge – especially when balancing personal and business priorities. Fortunately, there are ways to help your employees manage their time more effectively.
1. Invest in time and project management services – Many people plan their days in the morning. While this is not a bad thing, it often leads into a 24-hour mentality rather than an efficient use of time and energy. Fortunately, there are a variety of time management and project applications such as Todoist, Google Keep and Any.do that can eliminate the need for daily “to-do” lists while increasing employee-to-employee communication on projects.
These types of applications provide a venue for employees to organize their tasks over a period of time and collaborate with other project participants and departments. Employees are able to stay up-to-date on the status of other aspects of projects, keep customers informed and plan based on the needs of the company.
2. Discourage Multitasking – Many people pride themselves on the ability to multitask. However, studies have shown that multi-tasking is not real. Instead of focusing on more than one thing at once, the human brain is actually rapidly switching between the two tasks. Neither task receives the full focus. Instead of attempting to juggle a multitude of items, it is best to focus on a single task with full attention before moving onto the next item.
The “multi-tasking” mentality has become so ingrained in today’s culture that many employees may mistake their balancing of tasks as a benefit. Often, the ability to multi-task is looked on as a source of pride. It is important to present research dispelling this notion and train employees the value of focus.
3. Encourage Employees to Stay Onsite – Many employees will leave the campus during lunch or breaks in order to get food or run errands…especially banking. Providing an onsite ATM can offer a safe, easy cash and bank account access without the stress and dangers of traffic and long lines.
Onsite ATMs can bring additional benefits including financial institution partnerships and offerings. These often include special checking, savings and loan offerings as well as financial education and/or mentoring to help employees navigate personal financial landmines, plan for retirement and make other important financial moves.
Providing the appropriate tools and training is essential in creating a safe and efficient workplace. Onsite ATMs, time management training and project management services are just a few of the ways HR managers can offer guidance to employees.
