Herring Bank sent out the following notice to their merchants in response to Visa’s press release regarding cashless ATM’s in January.
Dear Valued Customer,
In light of Visa’s press release dated December 2, 2021 wherein Visa stated that the use of the cashless ATM’s is in violation of their rules and is prohibited regardless of industry, Herring Bank is requesting that all customers currently using a cashless ATM or similar payment system as described in the press release, seek other payment methods and cease utilizing such payment methods within 90 days of receiving this notice, 4/13/2022, due to Visa’s firm stance. Failure to comply with this request could lead to termination of your account with Herring Bank.
For additional information related to this, please click this link to see the press release from Visa.
Thank You,
Herring Bank
There are different interpretations of the Visa letter that came out. The biggest take away here is to keep your business in legal and procedural compliance with State and Federal regulations. It may be time for a new solution.
If you’re concerned about anything regarding the Visa notice and your current payment processing solution, send us an email. We are happy to answer any questions and or reservations you may have.
Chris Mills, CEO