While cannabis has become legal for medicinal or recreational use in a growing number of states, the gap between federal and state law still creates a lot of complications for marijuana dispensary businesses, especially when it comes to processing payments. Many dispensaries bridge this gap by installing ATM machines on the premises, making it easier for customers to have access to cash. Let’s discuss why marijuana dispensaries need reliable ATMs to help keep their businesses running smoothly.
Dispensaries Have Limited “Cashless” Options
Regardless of changing attitudes about marijuana, and despite many states changing their own laws regarding cannabis, the federal government still classifies it as a Schedule 1 drug. This means it’s still technically a federal crime to use, possess or sell cannabis. While the federal government has chosen (for the moment) not to interfere with individual state laws on this matter, federally backed financial institutions like banks and credit card companies still can’t do business with dispensaries without running a risk of money laundering charges. For dispensary owners, this greatly restricts their ability to take checks or credit/debit cards from customers — which means that cash is king. A reliable ATM machine on site ensures customers always have access to cash for their purchases.
Wear and Tear
Since cash is the only accepted form of payment at most cannabis dispensaries, their ATM machines see a lot more use than ATMs at other locations. Machines must be meticulously maintained and constantly restocked. Any breakdown of the machine almost immediately translates to lost sales and revenue. Thus, it’s critically important for dispensary owners not just to install the cheapest version of an ATM, but rather one that is designed for repeated and consistent use — one that holds up under an increased amount of wear-and-tear.
Reliable Warranties and Maintenance
Sometimes, despite everyone’s best efforts, an ATM machine will go down for one reason or another. When this happens, time is of the essence to get it up and running again. If the dispensary owner also owns the machine, it’s up to him or her to get a repair technician on the scene as soon as possible; if the dispensary has a placement contract with an ATM provider, the provider will take care of maintenance and repairs. In either case, it’s of the utmost importance to have a robust warranty in place, and preferably an extensive preventative maintenance plan, to keep downtime to a minimum.
As you can see, it’s important for marijuana dispensaries not just to have an ATM available to customers, but one that is highly reliable, able to hold up to the demands of the business. AtmMachines.com, LLC provides reliable, state-of-the-art ATM machines from only the most reputable manufacturers — and for dispensary owners who don’t want the additional responsibility of care and maintenance, we provide unmatched levels of care and maintenance through our ATM placement program at no charge to the business owner. To learn more about your options for installing a reliable ATM machine in your cannabis dispensary, call us today at 1-866-295-2329.