As a marijuana dispensary owner you’re intimately familiar with the risks involved in running your all cash business. This is why we designed the dispensary automated cashier to remove all cash handling from your budtenders and securely vault your cash.
This article will outline a few tips for dispensing cash from your dispensary automated cashier.
Dispensing cash can be invaluable for making change to your customers like a budtender, but there are best practices which must be followed in order to ensure a smooth transaction with your customers.
The dispensary automated cashier is equipped with a bill recycler which allows it to both accept and dispense cash. A bill recycler is a much more complicated and expensive device than a bill acceptor which only accepts cash.
In order to ensure smooth transactions with your customers there are a few tips you should follow.
Tip 1: Monitor your cash levels
In order to avoid running out of cash to dispense it will require detailed knowledge of your dispensaries daily sales figures to gauge just how often you’ll need to refill your bill recycler.
At first, you’ll want to regularly refill your bill recycler and determine the number of bills remaining of each denomination. This knowledge will be useful for determining the right bill denominations to recycle.
The dispensary automated cashier offers a real-time notification system which lets you know exactly when your bill recycler reaches critical thresholds.
With careful monitoring and regular refilling you can help ensure that your bill recycler will have the notes necessary to make change.
Tip 2: Choose the correct bill denominations to recycle
A common misconception about bill recyclers is that they can dispense bills of any denomination. The reality is that just because your bill acceptor can accept a bill of a certain denomination doesn’t mean it can dispense that denomination.
Your bill recycler limits the number of denominations you can recycle. Our smart cash vault uses the MEI BNR, one of the largest bill recyclers and supports recycling up to 4 denominations thanks to its 4 recyclers.
For larger transactions, typically reaching into the hundreds of dollars, then it would be wise to configure your bill recycler to support dispensing higher denomination notes.
Based on your sales figures our staff will recommend which denominations your dispensary automated cashier should be configured to recycle.
Tip 3: Understand what’s involved in refunding a transaction
When I talk about refunding a transaction I’m referring to the scenario where the customer doesn’t have enough cash to complete the transaction.
They should get their money back right?
Yes, but there may be a problem with that. Let me explain why refunding a transaction might not work if your bill recycler hasn’t been configured properly.
Let’s say your bill recycler is configured to dispense $1, $5, $10 and $20 notes. Now let’s say the customer needs to insert $910 to complete their transaction.
She inserts 4 $100 notes and 25 $20 notes for a total of $900. At this point she is $10 short and doesn’t have the cash on hand to complete the transaction.
Since you have a bill recycler capable of dispensing cash you want to refund her money right?
This brings up an issue. The 4 $100 notes she inserted are now in the cashbox and cannot be dispensed. Remember, your device is configured to recycle only smaller bills, not $100 notes.
This means that your bill recycler has to find the extra $400 to make up for those notes in the recyclers.
What happens if there isn’t another $400 in the recyclers to give? Even if there is the available cash to dispense in smaller bills you will massively deplete your smaller bills which can cause issues with giving change for future transactions.
This brings me back to my point on the importance of choosing the right denominations to recycle. If you fail to do so you may not be able to return the customer’s money in the case where they can’t complete the transaction.
How can I ensure my Dispensary Automated Cashier is configured properly?
Our staff is here to help you understand exactly how to provision your dispensary automated cashier. We’ll take a look at your sales numbers and typical transaction size and recommend the denominations you should recycle.
By using our real-time notification system you’ll know well before your bill recycler reaches critical levels.