How to get an ATM machine?
If you’re exploring the process of acquiring or purchasing an ATM machine for your business, you’ve come to the right place. This page is your starting point for understanding the steps involved in owning an ATM machine.
Initial Phase – Clarify Your Objectives for Installing an ATM
Before proceeding, identify why you want an ATM: to enhance customer convenience, meet demand, reduce credit card fees, promote cash transactions, earn surcharge revenue, or boost foot traffic. Consider if certain goods or services in your business rely heavily on cash transactions. Understanding your motivations is crucial; for instance, convenience stores see 25% of ATM cash reinvested in-store purchases, while bars and casinos experience up to 80% circulated within their premises. This insight will guide you in selecting an ATM that aligns with your business goals.
Secondary Phase – Assess the Suitability of Your Business Location for an ATM
For an ATM to be financially viable, it must attract enough transactions to offset its initial and ongoing costs. This necessitates a significant foot traffic and a demand for cash usage. Businesses with high transaction volumes typically include bustling convenience stores, large hotels (300 rooms or more), stadiums, and busy casinos. Medium-volume locations encompass medium-sized convenience stores, hotels (200 rooms or more), casinos, and large bars. Establishments with lower transaction volumes, such as smaller convenience stores, hotels, casinos, bars, bowling alleys, and salons, still find value in having an ATM, though the percentage of customers using it typically ranges from 3 to 5%.
Additionally, the chosen location must offer secure placement for the ATM, access to electrical power, and compliance with Americans with Disabilities Act (ADA) requirements, which include a 4′ x 4′ accessible space in front of the machine and wheelchair accessibility. Typically, ATMs are securely anchored to the floor using four concrete bolts.
Tertiary Phase – Explore Your ATM Acquisition Choices
In all options, the portion of the surcharge paid to the merchant depends on two factors: the expected transaction volume and the merchant’s willingness to commit to upfront costs and ongoing maintenance.
- Turnkey ATM Solution: Ideal for high-volume locations, Connect ATM/ATM Brokerage provides and maintains the ATM, requiring minimal effort and cost from the merchant.
- ATM Maintenance: Designed for high or medium volume locations, merchants purchase their own ATM but opt for Connect ATM/ATM Brokerage Systems to help with maintenance.
- ATM Processing Only: If merchants seek full surcharge revenue or don’t qualify for other options, they can buy the ATM and opt for ATM Processing Only from Connect ATM. This option grants full control over maintenance and cash loading, resulting in 100% of the surcharge revenue.
The cost of a new retail ATM starts at $2495, increasing based on model and options. Investing in a newer ATM can boost transaction numbers and benefit the business accordingly.
Fourth Stage – Partner with Connect ATM/ATM Brokerage.
Connect ATM / ATM Brokerage offers comprehensive ATM solutions nationwide. With a commitment to exceptional customer service, we ensure a seamless experience for our clients. To comply with federal, banking, and processor regulations, certain documentation is required, including an ATM processing agreement, ATM Owner/Operator Source of Funds Declaration Agreement, Articles of Incorporation or Organization (if applicable), a copy of the business/retail license, ACH form, voided check, and IRS W-9.
We strive to be your preferred ATM provider, delivering reliable and efficient services tailored to your needs.
Here is a complete starter guide of how to make money and build your ATM Business.
Fifth Stage – Program and install your ATM
A technician will liaise with the business owner to handle the programming and installation of the ATM. The technician will program the ATM specifically for your business. The installation process can be carried out either by the business owner or the technician. It’s essential to ensure the ATM has access to power and internet connectivity, typically achieved through a CAT5 connection to the local router or via a wireless box. Additionally, securing the ATM to the ground is typically achieved using four concrete anchor bolts.
Final Phase – Train and Load the ATM with Cash
Depending on your chosen ATM procurement option, the technician will provide training to the business owner on cash loading procedures and fund balancing. Once training is completed, the ATM will be loaded with cash and prepared to process transactions promptly.
Let’s delve into each step in detail to gain a comprehensive understanding of the entire process and its significance.
Here is a complete starter guide of how to make money and build your ATM Business.
ATM Brokerage
ATM Brokerage separates itself from the pack by providing ATM buyers and ATM sellers with all the insights needed in order to make sound buying and selling decisions.