danielirubin Posted August 12, 2011 Share Posted August 12, 2011 http://www.vendingmarketwatch.com/news/10318208/bill-recyclers-increase-vending-sales-meis-chuck-reed-tells-southeastern-vending-association-convention link is to an article defending why bill recycler's make your machines more profitable... would you rather use these or fight your bank for dollar coins Link to comment Share on other sites More sharing options...
RJT Posted August 12, 2011 Share Posted August 12, 2011 http://www.vendingmarketwatch.com/news/10318208/bill-recyclers-increase-vending-sales-meis-chuck-reed-tells-southeastern-vending-association-convention link is to an article defending why bill recycler's make your machines more profitable... would you rather use these or fight your bank for dollar coins I think recylers have their place in certain accounts and would bump profits to a certain degree. Why fight with your bank for golden dollars? Order them direct from the US Mint for face value with free shipping. If you charge them on a credit card that give you miles then you are getting free miles. Winner, winner, chicken dinner..... Link to comment Share on other sites More sharing options...
danielirubin Posted August 12, 2011 Author Share Posted August 12, 2011 omg rjt you are brilliant!!! can i do it online or is there a number that I need to call just read that you cant purchase them with credit cards anymore because of what you said about frequent flyer miles lol "The Mint has determined that this policy change is prudent due to ongoing activity by individuals purchasing $1 coins with credit cards, accumulating frequent flyer miles, and then returning coins to local banks. Local banks, in turn, returned coins to the Federal Reserve. While not illegal, this activity was a clear abuse and misuse of the program." Link to comment Share on other sites More sharing options...
mission vending Posted August 13, 2011 Share Posted August 13, 2011 I think recylers have their place in certain accounts and would bump profits to a certain degree. I agree. Probably will add them to the next couple of glassfronts I will buy and see how it goes. You can also get some of the same benefits by adding debit/credit acceptance. The only real diff IMO between recyclers and debit is that the debit has ongoing processing costs and once you pay for the recycler you get to keep the extra profits. Link to comment Share on other sites More sharing options...
dogcow Posted August 14, 2011 Share Posted August 14, 2011 I agree. Probably will add them to the next couple of glassfronts I will buy and see how it goes. You can also get some of the same benefits by adding debit/credit acceptance. The only real diff IMO between recyclers and debit is that the debit has ongoing processing costs and once you pay for the recycler you get to keep the extra profits. bill recyclers dont tattle on you to the IRS Link to comment Share on other sites More sharing options...
vendcobros Posted August 14, 2011 Share Posted August 14, 2011 Ok guys.. I have to admit I don't understand - what exactly is a bill recycler? Just a validator that accepts higher than $1 bills? Link to comment Share on other sites More sharing options...
lurtsman Posted August 14, 2011 Share Posted August 14, 2011 I was excited to read this because I have cash rewards on my credit card. Oh well. Grats to the first in. Link to comment Share on other sites More sharing options...
dogcow Posted August 14, 2011 Share Posted August 14, 2011 Ok guys.. I have to admit I don't understand - what exactly is a bill recycler? Just a validator that accepts higher than $1 bills? it dispenses cash change instead of coins. so you end up with the higher denomination bills and the lower denomination bills are recycled back to the customers as change Link to comment Share on other sites More sharing options...
ANDERSONVENDING Posted August 14, 2011 Share Posted August 14, 2011 it dispenses cash change instead of coins. so you end up with the higher denomination bills and the lower denomination bills are recycled back to the customers as change The recycler returns ones or fives depending on the setting in the recycler dogcow it sounds like you are having a Yogi Berra moment. "it dispenses cash change instead of coins" ;D Link to comment Share on other sites More sharing options...
RJT Posted August 15, 2011 Share Posted August 15, 2011 omg rjt you are brilliant!!! can i do it online or is there a number that I need to call just read that you cant purchase them with credit cards anymore because of what you said about frequent flyer miles lol "The Mint has determined that this policy change is prudent due to ongoing activity by individuals purchasing $1 coins with credit cards, accumulating frequent flyer miles, and then returning coins to local banks. Local banks, in turn, returned coins to the Federal Reserve. While not illegal, this activity was a clear abuse and misuse of the program." You still can buy the Golden Dollars direct from the mint at face value with free shipping thru money order or wire transfer. Link to comment Share on other sites More sharing options...
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