Point of Banking functions as a "cashless ATM Machine" that allows retail merchants to accept bankcards without the high processing fees associated with either a traditional or high-risk merchant account. All processing fees for approved transactions are paid for by the cardholders through a small convenience fee that is added to the transaction amount being charged to the customer's card, similar to using an out-of-network ATM machine. Point of Banking uses a terminal configured to run PIN-based transactions that most merchants place right at the cash register. Whole dollar amounts are run in increments of $5 or $10. The terminal prints a two-part receipt, so both the merchant and the customer can keep a copy. Funds are electronically deposited into the recipient’s bank account.