Gotta Have It!
Highlights of new, unusual and nifty products for banks and bankers
By Kelly Childs, Independent Banker
"Our bank bought a mobile ATM last year, and I guess you could say we've gotten some mileage out of it," jokes Nat Bothwell, online president at Arkansas National Bank in Bentonville, Ark.
The $450 million-asset bank purchased a mobile ATM cargo van that zooms all around Benton and Washington counties, bringing cash to patrons of the region's many outdoor events like fairs, sports events and rodeos.
Once on-site, the ATM can operate completely cordless running off a generator supplied with fuel. It runs on the generator for power and then the ATM unit has a cell for communications.
The unit cost the bank less than $100,000.
"If you're looking at putting up an ATM stand complete with a kiosk-type building that is both heated and air conditioned, you'd probably spend $100,000 easily," says Bothwell. "The obvious benefit with the cargo van model is you can move it to where the people are. It's a great idea for areas that are frequented by tourists, and where there are festivals and other events."
He also says the mobile unit makes a great backup ATM. That allows the bank to continue service if trouble disables one of the bank's permanent ATMs.