Card-Issuing Bank – The bank that issues the customer an ATM, credit, or check card
Cassette – The box inside the dispenser that holds the cash
Dedicated Phone Line – A telephone line that is not shared with any other device
Dispenser – The mechanism inside the ATM that dispenses the cash from the cassette
Foreign ATM Charge – The amount being charged by the bank to the card user for using an ATM not owned by the bank. The average fee is $1.25, but ranges from nothing to $2.00.
Interchange Revenue – This is the revenue paid by the card-issuing bank to the national authorizing switch (Cirrus, Plus, etc.). Ocean ATM and other ATM companies are paid from this revenue stream. Banks typically mark this fee up and pass it along to their customers as a foreign ATM charge.
LAN Connection – A wired or wireless Local Area Network connection that can be used to connect certain types of ATMs
Reg E – This stands for the federal banking regulation for electronic funds transfer. If a customer doesn’t receive his money from an ATM, but he was charged, then this is where a Reg. E would come into effect. The customer can call us and we can walk them through the proper protocol. The customer will need to go to his bank and the bank will issue a provisional credit to the customer. The bank then files the Reg E paperwork. The paperwork comes to Ocean ATM and we compare this with the journal from the ATM to determine what happened. If the ATM owner owes, then they are charged. Otherwise, the bank retracts the provisional credit. Reg E claims typically require 6 weeks to complete.
Incredible service! Todd is readily available to help, pleasant to deal with, and quick to answer questions. He went above and beyond and was a true pleasure to work with. Joe was excellent during the installation process and made the process simple. He was patient and did an excellent job guiding me through the process. I highly recommend Ocean ATM and I can't imagine using any other company.
Ocean ATM and Todd have absolutely been fantastic to work with! From my initial query about a new ATM, through delivery and setup, they have been extremely helpful. I have never worked with a business that has been so responsive! I highly recommend them for all your ATM needs
Very pleased with Todd from Ocean ATM. I have a very busy schedule and he was able to work with me on my time. The process was also very smooth and got my ATM promptly. Specialist Joe was also very helpful assisting with the software installation and getting my ATM up and running. 5 Star for Ocean ATM. Thanks guys!