Vault cash

Definition

The operator's own money loaded inside the machines, which never appears as revenue.

Why It Matters

This is the working capital that makes an ATM route unlike any other route business: the operator funds the cash a customer withdraws and is repaid through settlement days later. The average withdrawal has risen from 134 dollars to 210 while the count fell, so the dollars a fleet must fund have held about level as the surcharges earned on them shrank. A buyer funds that float from day one and a lender rarely lends against it. Establish how much is in the fleet, who owns it today, and what it costs to carry.