So how exactly can an ATM save your retail customers money? It comes down to the payment method - cash vs cashless. A landmark study from the University of Adelaide found that consumers tend to spend more when using credit/debit cards and other cashless payment methods versus using cash. This tendency was especially pronounced for purchases of status products meant to signal wealth or success.

This cashless disconnect is one of the reasons many financial advisors recommend using cash instead of credit/debit cards as much as possible when trying to stick to a budget. Using cash can guard against unplanned, impulsive purchases by making the spending experience more tangible and memorable. It's simply harder to lose track of how much you've spent when you can physically see your cash reserves dwindling.

Of course, in today's increasingly cashless society, it's not always easy or convenient for consumers to access cash. With bank branches closing and most banks still operating from 8 a.m. to 5 p.m., withdrawing cash has become more difficult. In addition, more paychecks than ever are either direct deposit or payroll cards, meaning fewer paychecks are being issued via physical checks that can be cashed.

ATMs, particularly those located at retail stores and other convenient locations, can play a big role in helping customers save money. By providing easy access points to withdraw cash, retailers with ATMs on premises are empowering their customers with a budgeting tool - the ability to pay in cash.

When retail customers can easily convert part of their paycheck into cash via an on-site ATM, they gain the ability to:

1. Ditch impulsive overspending by using a cash payment method that is psychologically more “painful.”
2. Keep tighter control over their budget by physically seeing their cash reserves dwindle with each purchase.