More NYC Restaurants Using Reverse ATMs to Get Around ‘Cash-22’ Dilemma
5th April 2023
A growing handful of New York City restaurants are determined not to handle cash despite the Big Apple’s ban on refusing hard currency – and they are turning to a new twist on old technology.
Slutty Vegan, an Atlanta-based vegan comfort food chain with outposts in Harlem and Brooklyn, is among restaurants that are installing “reverse ATM machines” that spit out prepaid cards to get around the “Cash-22” dilemma, Side Dish has learned.
One service provider – called ReverseATM, appropriately enough – rents out ATM-style machines that accept cash bills in exchange for an “open loop” debit card whose balance can be used anywhere that Visa and MasterCard are accepted.
An executive at the ReverseATM – whose clients range from fast-food eateries to large sporting venues like Madison Square Garden – told Side Dish that customers are never charged a fee for the debit cards.
Of course not–they get their piece from the business that accepts the card, as is normal.