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Is paper really that expensive?
02-24-2020, 11:04 AM
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#1
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,155
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Is paper really that expensive?
Got an odd email from Chase this morning. Apparently they're spending too much on receipt paper in their ATMs. Seriously?
Screen Shot 2020-02-24 at 1.02.18 PM.png
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I thought growing old would take longer.
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02-24-2020, 11:10 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Jun 2016
Posts: 1,951
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It's like Olive Garden only giving one olive on a plate (hello... its called OLIVE Garden)... most of the customers don't eat them so OG ends up throwing out a lot of olives.
Just look at the number of ATM receipts laying all around the ATM. I'm amazed so many people leave info like that... although it's also interesting to see the number of sub-$100 balances documented on those discarded receipts.
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02-24-2020, 11:12 AM
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#3
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gone traveling
Join Date: Dec 2015
Location: Berkeley, Denver, CO, USA
Posts: 1,406
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Quote:
Originally Posted by Spock
although it's also interesting to see the number of sub-$100 balances documented on those discarded receipts.
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So?
For me, ATM usage is free.
But, on the other hand, I only use an ATM about once every 3 years.
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02-24-2020, 11:18 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,973
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Some Chase executive must have gone to my old Chase bank (it closed) and saw all the wasted paper receipts lying around.
I think it's a good idea, certainly less messy.
It may really save them a lot more money than the paper, as I'm sure sometimes they have to send out a person to refill the paper, even when there is plenty of money in the ATM.
Also reduces the risk of theft, as one less reason or at least less frequency of opening the ATM to refill paper.
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Fortune favors the prepared mind. ... Louis Pasteur
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02-24-2020, 11:19 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Jun 2016
Posts: 1,951
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Quote:
Originally Posted by davebarnes
So?
For me, ATM usage is free.
But, on the other hand, I only use an ATM about once every 3 years.
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The average customer only has one checking account. If that account has less than $100 in it, somebody is having to make choices between groceries, gas, diapers, and rent.
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02-24-2020, 11:48 AM
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#6
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,155
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I use ATMs fairly often, monthly at least. Seems to me that many of them ask if I want a receipt instead of printing one automatically. That would be a better solution.
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I thought growing old would take longer.
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02-24-2020, 11:53 AM
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#7
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Thinks s/he gets paid by the post
Join Date: Jun 2017
Location: Western NC
Posts: 4,600
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Mine sends everything to email...and I love it.
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02-24-2020, 12:48 PM
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#8
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gone traveling
Join Date: Dec 2015
Location: Berkeley, Denver, CO, USA
Posts: 1,406
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Quote:
Originally Posted by Spock
The average customer only has one checking account. If that account has less than $100 in it, somebody is having to make choices between groceries, gas, diapers, and rent.
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My checking account (I have only one) usually has <$300 USD in it. I don't rent and am don't need diapers (for my butt) yet. We only put 4200 miles/year on our car. [Insert your favorite deity here] invented Apple Pay for a reason.
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02-24-2020, 04:38 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,712
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So I go to CVS and buy a pack of gum with my "Care Card." The register regurgitates 10 feet of (mostly worthless) coupons. I'm not exaggerating too much here - maybe just a little.
My guess: The paper in an ATM is virtually 'free' by comparison to what it costs Chase (or whomever) to INSURE that their machine NEVER runs out of paper. The bonded folks who service the machines probably cost $35 a call to stuff the machine with cash and change out the paper rolls (long before they need it - just in case.) YMMV
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Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
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02-24-2020, 04:42 PM
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#10
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,155
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Quote:
Originally Posted by Koolau
So I go to CVS and buy a pack of gum with my "Care Card." The register regurgitates 10 feet of (mostly worthless) coupons. I'm not exaggerating too much here - maybe just a little.
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Oh yeah! CVS receipts are notorious.
The long, long history of long, long CVS receipts
__________________
I thought growing old would take longer.
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02-24-2020, 04:48 PM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,973
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Quote:
Originally Posted by Koolau
So I go to CVS and buy a pack of gum with my "Care Card." The register regurgitates 10 feet of (mostly worthless) coupons. I'm not exaggerating too much here - maybe just a little.
My guess: The paper in an ATM is virtually 'free' by comparison to what it costs Chase (or whomever) to INSURE that their machine NEVER runs out of paper. The bonded folks who service the machines probably cost $35 a call to stuff the machine with cash and change out the paper rolls (long before they need it - just in case.) YMMV
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More like $135 per call. (my guess).
They require probably 2 workers, as I asked once long ago at the bank and it was 2 workers, because if some cash went missing, did the customer really deposit it
For $35 it's hard to get a couple of pizza's delivered by some pimple kid that could never pass bonding.
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Fortune favors the prepared mind. ... Louis Pasteur
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02-24-2020, 04:51 PM
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#12
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,155
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Quote:
Originally Posted by Sunset
More like $135 per call. (my guess).
They require probably 2 workers, as I asked once long ago at the bank and it was 2 workers, because if some cash went missing, did the customer really deposit it
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I've seen ATMs being refilled many times and there is usually only one person. Occasionally two, but mostly one.
__________________
I thought growing old would take longer.
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02-24-2020, 05:39 PM
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#13
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Thinks s/he gets paid by the post
Join Date: Mar 2011
Location: North TX
Posts: 1,788
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Not to mention the machine cost & maintenance. Good cost cutting idea imo. We only use ours a couple of times each year, so wouldn't bother me.
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02-24-2020, 06:50 PM
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#14
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Recycles dryer sheets
Join Date: Jul 2019
Posts: 262
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I always go into the bank to visit the nice ladies, and pick up my free ink pen & a piece of candy. I wonder how much they spend on pens & candy? (Probably more than they pay in interest these days!)
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02-24-2020, 07:15 PM
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#15
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Thinks s/he gets paid by the post
Join Date: May 2016
Location: Mid-Atlantic
Posts: 2,642
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Agreed, the cost of the supplies is probably negligible, it's probably the labor cost. I know I hate getting paper other than $$$ from ATMs; that just means I have to carry it around until I can drop it in a shred bin. I withdraw rarely enough that I can reconcile the transactions from memory.
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02-25-2020, 05:22 AM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2008
Location: NC
Posts: 21,148
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Quote:
Originally Posted by braumeister
I use ATMs fairly often, monthly at least. Seems to me that many of them ask if I want a receipt instead of printing one automatically. That would be a better solution.
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We use ours weekly. Our ATM offers email, print or both receipts. DW insists on a receipt, I think it’s a waste of paper. So I’d be privately pleased if our bank eliminated ATM paper receipts, makes sense to me for several reasons like environment, bank labor, etc.
I’m curious where all you infrequent ATM users get your pocket money?
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02-25-2020, 05:44 AM
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#17
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2016
Location: Colorado
Posts: 8,971
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What’s pocket money?
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02-25-2020, 06:06 AM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,973
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I take out about $150 every 6 months.
Sometimes prior to a trip I'll go to the bank to get a pile of $1 and $5 bills for tipping while on travels.
Other than that I use CC.
__________________
Fortune favors the prepared mind. ... Louis Pasteur
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02-25-2020, 06:17 AM
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#19
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Moderator
Join Date: Nov 2015
Posts: 13,846
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I rarely use the ATM, but I can say that while I usually get a receipt, I cannot remember any time ever looking at it again other than when I dig it out from my wallet/purse to throw it away.
Some benefits to doing away with them, besides the minor cost, maintenance, one-more-thing-that-occasionally-breaks-in-the-machines:
Shorter transaction times for the end user (greater safety, the less time I spend at the machine)
One less thing to code for, test for during changes
One more reason to push people to their stupid app
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02-25-2020, 06:43 AM
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#20
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Thinks s/he gets paid by the post
Join Date: Jan 2017
Posts: 2,628
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Thread drift:
What about those banks (and other companies) who want to charge you for one paper statement per month, but every week they send one or two large, glossy advertisements in the mail?
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