Yes, the TankMate sensor will certainly work on an underground or below deck tank.
You just need to ensure you mount it so there is line of sight from the mount (on the tank roof/access hatch) down to the water's surface.
And remember to allow for easy access to the TankMate in future for you to replace batteries etc.
If you have WiFi coverage at the tank, you can use the R3 WiFi model, if you only have cellular network coverage then you will need the R3 LTE model.
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