When it comes to running a modern casino, one word is more important than most: convenience. Today’s tech-forward, instant society has created the demand for convenience and ease of access everywhere, including on casino floors. Your patrons want quick access to their money, no matter its form, so that they can continue playing as long as they’d like. Of course, merely offering check cashing at your cashier’s cage is no longer enough. Waiting in line and dealing with the time involved in an actual human transaction isn’t worth it to many players. So, what’s the solution?
With the CM-2020 from CASINOMONEY, you can offer check cashing right at the self-serve kiosks on your casino floor. That means people will have instant access to all of their cash, and in turn, they will take it to play slots and table games in your casino instead of going somewhere else. There are probably a lot of questions you need to be answered first, though, if this is your first foray into considering casino ATM solutions that include check cashing and cash advance features. Keep reading to learn more about the benefits of offering this service and how it works with the CM-2020.
What are Casino Check Cashing Services?
It might sound like a simple concept, but some people are entirely unfamiliar with the fact that casinos can cash checks from personal, business, or government accounts. Most people (including some casino owners and managers) might not even realize that they have the potential to offer check cashing services to their patrons. However, integrating this service is relatively simple, and it is an advantageous move for any casino’s bottom line.
Just think about it for a minute. Imagine if you have players on the floor who are having a great time, but they suddenly run out of cash. They might have a paycheck on them, or even a personal check they want to cash from their bank when they don’t have an ATM or debit card. By facilitating the check cashing, not only are you helping the patrons who want to play more, but you’re helping your bottom line because they aren’t leaving to get money (and probably play) elsewhere.
How Does it Work?
Utilizing a ticket redemption machine like the CM-2020 from CASINOMONEY allows you to set up a variety of payment processing and ATM services, including check cashing features. Patrons will be able to access the kiosk, provide a few personal details, and feed their check into the machine. Once the check has been verified, the kiosk will pay out cash in exchange, down to the exact penny.
Your casino or card room can even set up the service to include a check cashing fee or service charge to cover the cost of providing this service to your patrons. As long as it’s reasonable, most people won’t mind spending a little extra for the convenience of having instant access to cash. Since the CM-2020 is an entirely customizable Linux-based solution, it’s easy to set up your casino cash advance and check cashing services precisely the way that you want.
The CM-2020 kiosk offers integrated EMV certification, bill breaking, check cashing, credit card cash advances, ticket redemption payouts, and other services in a single machine, featuring cloud-hosted systems with advanced security features and total customization from top to bottom. Plus, the interface of the machine is simple and engineered to be user-friendly for all patrons, no matter how tech-savvy they might be.
Beyond the Obvious Benefits of Check Cashing
Aside from the apparent profit margin increase that you’ll see by giving people more access to their money, you’re also going to see a lot of other perks as a result. For starters, when you implement the service along with a self-serve kiosk-like CM-2020, you’re giving people the benefit of convenience. As mentioned previously, that is critical for today’s consumer. Whether it is with grocery shopping, getting money, or even gambling, people want easy, convenient solutions that allow them to spend less time waiting or working for their fun.
Believe it or not, there are still some people out there who don’t have an active bank account for one reason or another. These people may find it difficult to cash checks, being limited to various convenience stores, or check cashing and financial service centers. When they’re gaming at your casino, and they run out of money, they aren’t going to have an ATM card just to run over and grab more cash. Rather than letting all of these patrons walk out the door, you can offer casino check cashing services through the kiosk and keep people gaming longer.
Another thing to keep in mind is that this is essentially a double-profit point for your business. Not only are you profiting from people spending the money they cashed at your machine in your casino, but you’re also cashing in on that service charge that comes with the convenience of a check-cashing kiosk like the CM-2020. Necessarily, you don’t have much to lose, but you have everything to gain. You’re making casino and cage management easier for yourself and your employees and making gaming accessible and convenient to everyone who walks in the door.
The Bottom Line
Check cashing isn’t going to become the bread-and-butter of your business, by any means. However, since you’re already considering investing in a new casino management system like the CM-2020, it’s definitely worth considering as an addition to your custom kiosk setup. There are no real drawbacks, thanks to the advanced security and technology of the machines that allow the checks to be validated upon deposit so that they can be cashed safely.
You’ll enjoy all kinds of flexible solutions with a self-service multi-function kiosk, but being able to provide your patrons with easier access to all of their money is definitely an important consideration. To learn more about how the CM-2020 and other kiosk solutions can help you, download the CASINOMONEY brochure or contact us today.
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CASINOMONEY, a division of MOBILEMONEY, is a full-service provider of innovative cash solutions for the gaming industry.
CASINOMONEY offers cutting-edge technology and financial services that improve cage operations and cashier performance while increasing cash on the gaming floor.
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