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The recent federal stimulus package is being distributed to bank accounts and mailboxes, giving people’s accounts a much-needed boost. One result of the monetary addition to bank accounts is an increase in ATM usage. According to PCSU, one of the nation’s premier credit union service organizations, “ATM usage saw a notable year-over-year week 16 increase, with balance inquiries up 8.9% as consumers sought to validate receipt of stimulus funds. Correspondingly, ATM withdrawals were up 18.1% over week 15 in 2020, though still down 11.9% year over year.”

What Does This Mean For ATM Owners?

This increase in ATM use is good news for ATM owners. Why? Because each time a customer uses an in-house ATM, there is a transaction, or convenience, fee. An increase in ATM fees can really add up for ATM owners.

Why Are People Increasingly Using ATMs?

With the uncertainty of COVID-19, people have increasingly needed the reassurance of having cash on hand. Customers have been taking advantage of the convenience of using an in-store ATM to access cash while out running errands.

Additionally, customers are using ATMs to learn what their bank balance is. Since much of the federal stimulus money was delivered by direct deposit, people want to know if their stimulus money has arrived.

What Can ATM Owners Do To Keep Up Usage?

Service, service, service. Here are a few ways you can keep up foot traffic to you ATM:

  • Let your customers know that you have provided an in-house ATM for their convenience.
  • Purchase or lease an ATM from a company that provides customer service to help keep your ATM up and running at all times.
  • Keep your ATM stocked with cash.
  • Reassure your customers about how you are keeping your ATM clean and safe during COVID-19, such as increased cleaning of high touch areas, disinfecting your machine on a daily basis, and quarantining the cash used to vault your ATM for 48-72 hours prior to stocking the ATM. You can do this by providing signage on your machine or as the home screen messaging.

If you’re looking for instructions on how to clean your ATM, watch this Puloon USA video that takes you step-by-step through the process.

By taking steps to add customer service opportunities to your business, you will likely enjoy repeat business to your ATM long after COVID-19 has become a story for the history books.