Change machine
Encyclopedia
A change machine is a machine
that accepts large denominations of currency
and returns an equal amount of currency in smaller bills
or coin
s. Typically these machines are used to provide coins in exchange for paper currency, in which case they are also often known as bill changers.
In the US
, these devices are typically seen in the vicinity of machines that will not accept paper currency. This can be in a parking facility that has parking meter
s, in laundromats, or near vending machine
s that lack bill validators and don't accept paper currency.
Before the advent of coinless slot machine
s, casino
s would sometimes have change machines that would accept paper currency and return coins or tokens that could be used in the machines. A similar arrangement has often been found at video arcade
s.
In some cases a machine may subtract a small amount (e.g. 5 cents) as a surcharge
for the transaction.
Machine
A machine manages power to accomplish a task, examples include, a mechanical system, a computing system, an electronic system, and a molecular machine. In common usage, the meaning is that of a device having parts that perform or assist in performing any type of work...
that accepts large denominations of currency
Currency
In economics, currency refers to a generally accepted medium of exchange. These are usually the coins and banknotes of a particular government, which comprise the physical aspects of a nation's money supply...
and returns an equal amount of currency in smaller bills
Banknote
A banknote is a kind of negotiable instrument, a promissory note made by a bank payable to the bearer on demand, used as money, and in many jurisdictions is legal tender. In addition to coins, banknotes make up the cash or bearer forms of all modern fiat money...
or coin
Coin
A coin is a piece of hard material that is standardized in weight, is produced in large quantities in order to facilitate trade, and primarily can be used as a legal tender token for commerce in the designated country, region, or territory....
s. Typically these machines are used to provide coins in exchange for paper currency, in which case they are also often known as bill changers.
In the US
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, these devices are typically seen in the vicinity of machines that will not accept paper currency. This can be in a parking facility that has parking meter
Parking meter
A parking meter is a device used to collect money in exchange for the right to park a vehicle in a particular place for a limited amount of time. Parking meters can be used by municipalities as a tool for enforcing their integrated on-street parking policy, usually related to their traffic and...
s, in laundromats, or near vending machine
Vending machine
A vending machine is a machine which dispenses items such as snacks, beverages, alcohol, cigarettes, lottery tickets, consumer products and even gold and gems to customers automatically, after the customer inserts currency or credit into the machine....
s that lack bill validators and don't accept paper currency.
Before the advent of coinless slot machine
Slot machine
A slot machine , informally fruit machine , the slots , poker machine or "pokies" or simply slot is a casino gambling machine with three or more reels which spin when a button is pushed...
s, casino
Casino
In modern English, a casino is a facility which houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships or other tourist attractions...
s would sometimes have change machines that would accept paper currency and return coins or tokens that could be used in the machines. A similar arrangement has often been found at video arcade
Video arcade
An amusement arcade or video arcade is a venue where people play arcade games such as video games, pinball machines, electro-mechanical games, redemption games, merchandisers , or coin-operated billiards or air hockey tables...
s.
In some cases a machine may subtract a small amount (e.g. 5 cents) as a surcharge
Fee
A fee is the price one pays as remuneration for services. Fees usually allow for overhead, wages, costs, and markup.Traditionally, professionals in Great Britain received a fee in contradistinction to a payment, salary, or wage, and would often use guineas rather than pounds as units of account...
for the transaction.
See also
- Automated cash handlingAutomated cash handlingAutomated cash handling is the process of dispensing, counting and tracking cash in a bank, retail, check cashing, payday loan / advance, casino or other business environment through specially designed hardware and software for the purposes of loss prevention, theft deterrence and reducing...
- Manual fare collection#Coin dispenser
- Money changerMoney changerA money changer is a person who exchanges the coins or currency of one country for that of another. This trade is thought generally to be the origin of modern banking in Europe....