How The Use Of Credit Cards, Online Banking, And ATM Machines Has Made Our Lives Easier

Nowadays, there are more ways to move money around and pay for goods and services than ever before. Previously, you had to go to a physical bank to withdraw money that you would then use to pay for goods and services. Now, it requires even less effort. Below, we will be going over some of the ways that online banking, ATM machines and credit cards has made our lives easier.

1. Convenience.

Perhaps the biggest advantage this has led to has been added convenience that you would not be able to get with other methods. With online banking and credit cards, you never have to physically visit a bank to get money to pay for things that you need to purchase. This alone saves us time and the hassle of having to go to the bank on a daily or weekly basis. The convenience factor alone is a huge advantage that has come from these methods of banking and paying for goods and services.

2. Safety.

With credit cards and online banking, no longer do you have to walk around with a lot of cash when you are looking to make expensive purchases. Now, all you need to do is bring your credit card along with you and you will be able to make large purchases safely without the threat of being robbed, misplacing the money, or having it stolen. A credit card gives you the safeguards necessary to keep your mind at peace knowing that you are fully protected against unauthorized use.

3. Speed.

Another major way that these changes have made our lives easier is through the speed at which we are able to make transactions and make payments. Now, with ATM’s and online banking, you are able to make deposits even when the bank isn’t open. This means that you will be able to deposit money much sooner than you would if you had to wait until the bank physically opened. Along with this, the transfers get processed much quicker because you don’t have to wait for a teller to handle the transaction for you. With credit cards, you are able to pay for things much quicker because you can purchase things online with your credit card number and you can even buy things that you would otherwise have to go to the bank to withdraw cash for.

Overall, these modern changes in banking and technologies have led to significant improvements in quality of life for consumers. Nowadays, you don’t have to physically go to the bank anymore to deposit checks and to withdraw money. Nor do you have to carry around huge amounts of money at any given time to make large purchases. Instead, you will be able to use your credit card to purchase high-value goods and services without having to lose the cash immediately. Since you will be purchasing it on credit, it can free up your cash flow and allow you to make installments if necessary. These changes have really made our lives much easier as a result.

The Advantages Of Having An ATM Machine In Your Store

It is common to see ATMs located in different businesses. From coffee shops to hair salons to marijuana dispensaries, it seems many are reaping the benefits of this decision. If you are unclear of the advantages associated with this, here is a bit of insight.

Preventing Chargebacks

When people pay for purchases using a credit card, they have the right to request a chargeback if they are not satisfied with the goods or services they received. Unfortunately, there are occasions when someone may take advantage of this and claim to be unsatisfied so they can obtain a refund.

As a business owner, this means that you will have to watch as the money you rightfully earned is taken away from you. If there is an ATM located in your business, this will increase the number of cash purchases, which means less opportunity for chargebacks to occur.

Reducing Card Fees

Merchants who accept credit cards are required to pay a fee for each transaction. If you own a major corporation, this may not be a huge deal, but it certainly is for those with a smaller business. In some cases, there are so many fees that it starts to eat away at the profits.

The more people who pay in cash, the less you will have to pay. Customers like the convenience of grabbing money on demand and you can save a bundle. It is a win-win situation.

Additional Income

In case you were unaware, when people have ATMs placed in their business locations, they generate income with each transaction. The fees that are required of each transaction go to the business, not the bank that the machine is owned by. Imagine a $3 surcharge and 50 customers daily who use an ATM. In that scenario, it would be possible to earn more than $50K in addition to your business profits. With the high level of income that most marijuana dispensaries are taking in, if you do run one we strongly advise you to get an ATM for your marijuana business as it is likely a cash only business in your state.

Customer Retention

If you do not accept debit and credit cards, this means that everyone walking in will need access to cash. Do you really want to give them the opportunity to walk off in search of what they need elsewhere? When this happens, there is always a chance that they will not return. Having an ATM available means that they are likely to withdraw money and continue with their original purchase intent.

Attracting Potential Business

Even if someone enters your business with the sole intention of using the ATM, there is a possibility they may see something they like and make a purchase. This means that in addition to the fee you earned with their transaction, there is a chance they may purchase an item or two. No, every person walking in will not make a purchase, but there are many who will.

As you should be able to understand by this point, having an ATM inside your business can be quite beneficial. Between saving money, appealing to more customers and having the ability to boost your yearly income, it would be a mistake for you to avoid giving this some careful consideration.

Getting More For Your Money During Any Financial Recession

During any financial recession money can be tight, so it is a good idea to review your shopping habits and start making additional savings by cutting your weekly shopping bills down.  By taking some time to look at your shopping bills and finding ways to cut costs, you can free up money and help to take the pressure off other financial commitments you may have.

Watch Prices

Set aside plenty of time to do your food shopping, and look carefully at the price of each item before you put it in your trolley.  It can be tempting just to pick up the same goods each week without checking the cost, but you could make a lot of savings by swapping your usual brand or ketchup for a cheaper, supermarket own label, or by looking out for an alternative brand that is on offer that week.  Also watch the prices at your local petrol stations, so that you can spot which ones are cheaper so that you can make some savings on your fuel bills.

Buy in Bulk

It can be much cheaper to buy certain items such as toilet roll, tinned foods and frozen foods in bulk, and as these items will last in your store cupboards so you can stock up on them every two to three months, and then just put them away until you need them.  Only ever buy those items you will actually use in bulk though, or else you will just be wasting your money and cluttering up your cupboards for nothing.

Buy Fresh

Ready made meals and takeaways are very convenient, but they are also very expensive and you can save a lot of money by buying the basic ingredients and making meals yourself, and they will also taste much nicer and be better for you in the long run.  If you are stretched for time at the end of the day, then set aside one afternoon/evening a week and cook up some simple suppers such as lasagne, cottage pie, pasta bake etc. and then portion these up and put them in the freezer.  Then all you will need to do is heat them up and serve them with some fresh crusty bread when you get home from work.

Coupons

Most supermarkets and larger stores offer coupons with money off goods and services, so make sure you look out for coupons in magazines, newspapers and also in store to help you cut your weekly bills, and don’t forget to check out the coupon codes on retail websites as well, as these can make you great savings online.