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Is paper really that expensive?
Old 02-24-2020, 12:04 PM   #1
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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?

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Old 02-24-2020, 12:10 PM   #2
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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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Old 02-24-2020, 12:12 PM   #3
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although it's also interesting to see the number of sub-$100 balances documented on those discarded receipts.
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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Old 02-24-2020, 12:18 PM   #4
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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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Old 02-24-2020, 12:19 PM   #5
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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.
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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Old 02-24-2020, 12:48 PM   #6
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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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Old 02-24-2020, 12:53 PM   #7
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Mine sends everything to email...and I love it.
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Old 02-24-2020, 01:48 PM   #8
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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.
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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Old 02-24-2020, 05:38 PM   #9
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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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Old 02-24-2020, 05:42 PM   #10
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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.
Oh yeah! CVS receipts are notorious.
The long, long history of long, long CVS receipts
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Old 02-24-2020, 05:48 PM   #11
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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
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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Old 02-24-2020, 05:51 PM   #12
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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
I've seen ATMs being refilled many times and there is usually only one person. Occasionally two, but mostly one.
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Old 02-24-2020, 06:39 PM   #13
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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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Old 02-24-2020, 07:50 PM   #14
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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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Old 02-24-2020, 08:15 PM   #15
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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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Old 02-25-2020, 06:22 AM   #16
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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.
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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Old 02-25-2020, 06:44 AM   #17
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What’s pocket money?
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Old 02-25-2020, 07:06 AM   #18
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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.
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Old 02-25-2020, 07:17 AM   #19
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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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Old 02-25-2020, 07:43 AM   #20
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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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