Reasons Why ATMs are Used All Around the World
MOBILEMONEY ATMs have been around for many years and make life a lot more convenient for people that need fast cash. The benefits of ATM technology are limitless. These are many reasons why ATMs are utilized in your local community and all around the world.
There are many reasons why retail customers love cash — many people cannot open a bank account while others prefer the simplicity of cash over a credit card. In addition, credit card debt wreaks havoc in the lives of many Americans. ATM machines take debit and ancillary charges out of the equation for many people who work paycheck to paycheck. Merchants love cash as well. By providing ATM convenience, business owners lower their credit card processing fees and earn more revenue on each transaction at the cash register.
Many business owners of convenience stores, supermarkets, and various retail establishments own and operate their own ATM machine. Any business with a small amount of foot traffic can benefit from the purchase or placement of an ATM in their business. When an ATM is conveniently located within the business, foot traffic and sales increase while credit card fees decline.
MOBILEMONEY ATMs are a low-cost solution for business owners to earn surcharge revenue and provide a valuable service to their customers. The cost to purchase an ATM typically ranges from $2200 — $3000 including shipping. The cost of installation is typically $250 — $350 dollars. Anyone can own and operate an ATM as long as there is no history of criminal activity. After the ATM is installed and operational, the ATM owner need will need approximately $1,000 — $2,000 in twenty dollar bills to replenish the cash in the ATM vault on a daily basis. Within 24 hours of each cash withdrawal, the ATM vault cash is returned to business owner’s bank account through an ACH (automatic clearing house) bank transaction.
ATM machines offer business owners a source of income for a very low cost and time commitment. New ATMs have very few malfunctions or part replacements so your ATM investment will continue to generate income for 6–8 years before an ATM upgrade is necessary.
This is the reason why MOBILEMONEY ATMs are almost at every street corner. Retail businesses enjoy the surcharge revenue while their customers enjoy the convenience of cash.