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Hi I am saving up to buy a ATM I want to have it located outside Downtown in my city where it's always super busy. Can you give me some advice and tips on how to get started and what to do? Thanks
Before you go spending any money do two things. First see if any banks will accept you. You may be considered whats called a money services business and it will be nearly impossible to find a bank account. Start calling around and asking and you'll see what a huge roadblock that is.
Secondly would it be in the wall of a buidling on the street or in a store? Go around and talk t some store owners or property managers and see if you could get a spot.
There are already people out there who are much more established ie banks or chain atm operators. How are you going to break in with no experience and one machine when someone else can tell a property manager you own 20 buildings, I can put an ATM in each one and give you a cut.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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I'm in commercial real estate, and I can tell you that we had one on the outside of one of our buildings and charged them
45-50 cents per transaction rent, depending on the number of transactions which amounted to about $400-600/month. That was a good price as we did it more for the convenience of the building occupants (tenant amenity). They paid for the installation and maintenance, and for the replacement when someone tried to set it on fire when they were unable to break into it.
I'm in commercial real estate, and I can tell you that we had one on the outside of one of our buildings and charged them
45-50 cents per transaction rent, depending on the number of transactions which amounted to about $400-600/month. That was a good price as we did it more for the convenience of the building occupants (tenant amenity). They paid for the installation and maintenance, and for the replacement when someone tried to set it on fire when they were unable to break into it.
You bring up a great point not only does maintenance of any type of ATM fall on the owner but theft as well. I'd highly recommend only doing one thats put into the brick in the building. If you are using one of these convenient store cheap ones that plugs into an outlet and can easily be wheeled away get ready for some big losses when someone steals your entire machine. Plus most people dont' trust or want to use those machines either.
I worked in the back end of an ATM company, you could rent one for a monthly fee, and set the fee amount to what you want which they will take a portion of. Also you must have a bank that can fill it and safely deposit the money for you. (Ex. Garda) Unless you have enough cash to fill it yourself but it will not be insured.
haha, i used one of those cheap atm store ones because i needed to get some cash real quick and i heard the damn thing dialing
that bugged me for some reason...
nowadays if i need cash i just slide into a grocery store right quick and buy a candy bar or something cheap in checkout and get cash back
no fees, no fees needing to be rebated
I agree, unless its the only option I try to avoid those little machines. When I hear the dialing just kinda rubs me the wrong way strikes me as being note as secure as a real machine. Also fees typically tend to be higher than a real bank atm. THey are also easy to steal. I would say unless the OP is gonna buy a real machine don't even bother.
I worked in the back end of an ATM company, you could rent one for a monthly fee, and set the fee amount to what you want which they will take a portion of. Also you must have a bank that can fill it and safely deposit the money for you. (Ex. Garda) Unless you have enough cash to fill it yourself but it will not be insured.
This is interesting and begs an interesting question to the OP. If someone can go with a large established company where they can kind of determine what they charge and how much they make why would they take a chance on a small upstart? Not knocking you just saying you need to have an answer to this when your pitching people.
ow, I'm interested in atm machines too as I even thought to build an atm machine by myself
what?
Is it possible at all?
Lol, I still can't build solar panels for home use for three months now, but you talk abou atm machine...
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atm operator
