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Renting An ATM For Your Nonprofit Fundraising Event
Brian Robinson
Planning a big gala auction or fabulous art sale to help raise money for your nonprofit organization? Don't forget to have an ATM (automated teller machine) on hand so your supporters can quickly and easily get money.
Why Have an ATM at Your Fundraiser?
While many people are used to checking out of auction or sales events with a credit card or even writing a check, having an ATM on hand may encourage attendees to spend more than they would otherwise.
Even with a credit or debit card, many auction-type events encourage additional spending with raffle tickets, surprise boxes or grab bags and other spur-of-the-moment opportunities to donate. There also may be an open bar or other refreshments that aren't included in their entry tickets. Your attendees will find paying for these things much easier if they have a bit of cash in their pockets.
And there are benefits to you as well. By encouraging your guests to use cash for payment, you can avoid additional fees generated when you accept credit cards.
How to Rent an ATM
Having an ATM available at your special fundraising event is usually a simple process. Most ATM services companies will deliver and pick up the machine in your requested timeframe. To find a reputable company, talk to your bank or other fundraising professionals for recommendations.
You are not responsible for any costs of having an ATM at your event. The company that supplies the ATM makes money from charging small fees to bank customers for the convenience of having cash available on site.
Common Questions About ATM Rental
- Is a phone line or cable modem required? Some machines do need a physical phone line, while others can operate via wireless connectivity.
- How much cash is available in the ATM? Your ATM service company will use a formula based on your location, your estimated number of attendees and the time of your event to determine how much money the machine will contain. This is typically considered proprietary information and isn't shared with you. If you do run out of money, a local service technician can restock the machine.
- What happens if the machine isn't functioning correctly? Most ATM service companies will have a service technician available--either on site or on call--for problems and will be able to respond quickly.
- Who is responsible if the machine is damaged? ATMs come with a number of security features to prevent damage, vandalism or financial loss. In almost all cases, the company that supplies the ATM will take full responsibility for any damage that occurs and will be able to identify the perpetrators. However, you will likely be asked about the security measures and personnel you plan to have in place at your event.
Talk to your ATM services company for their recommendations and more information about having an ATM at your nonprofit organization's fundraising event.
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