A new kind of kiosk is popping up at venues, gas stations, and even the San Antonio Zoo. They’re called reverse ATMs, and they do exactly what the name suggests. You put cash in and get a prepaid card out. Sounds simple, but for a lot of folks, it’s causing real frustration.
These machines are pitched as a way to speed up lines and cut down on handling grimy bills. Companies like BluePoint ATM Solutions say they help businesses serve customers faster. But the reality is that people are getting stuck with balances they can’t recover, cards that can’t be reloaded, and refund processes that take forever. One New York subway rider lost $100 in a year just from unclaimed money sitting on these cards. An ice cream shop in Philadelphia refused a $10 bill and pointed a customer to one of these machines instead.
The Federal Reserve says no law requires private businesses to accept cash, so this trend could keep growing. Some cities have passed cash-acceptance laws, but enforcement is unclear. For rural and small-town listeners who still rely on cash every day, this hits close to home. What happens when the only gas station in town goes cashless? Have you run into one of these reverse ATMs lately? Let us know how it went.
About the Author
Andrew Johnson
Andrew Johnson is a contributor to LocalBeat, covering local news and community stories.
