Since you have come across myriads of benefits that ATM provides, you might be planning to install an ATM at your business location. In that case, you would have many questions in your mind. For instance, how you can buy an ATM? What is the best model you should opt for? How will you install the machine? And most importantly, you would be wondering from where you get the money to refill your ATM.
As we mentioned earlier, deploying a cash machine will allow you to earn an extra amount per transaction. Well, this amount can range from $0.50 to $8. Since it depends on you to set fees for providing your customers with the facility, make sure not to keep the surcharge amount too high or else it will drive away your customers.
Filling Your ATM With Cash
When you buy a cash machine, you will have to load it with plenty of cash for your customers, so that they can make transactions easily. For that, you will first need to open a business bank account at any bank; make sure to choose a financial institution that offers maximum benefits along with opening a bank account.
Not to mention, ACH deposits will load the money. Visit the same bank to request for the bundles of $20 bills, so that you can put it into your ATM. It’s important to mention here that most ATM operators first load their machines at $3000 to $5000.
Moreover, most ATM holders put a maximum of $20,000 in their cash machine and not more than that. However, very few ATM owners load more money in their cash machines. Well, if you don’t like to manage cash refill, you can turn to reliable and trustworthy ATM service providers, such as MOBILEMONEY; they will take the responsibility and load your ATM whenever it runs out of money.
Types of ATM Business Models
- You Fill The Machine With Your Cash
- You Fill the Machine with Someone Else's Cash (Private Money Lender)
- You Have Someone Else Fill the Machine with Your Cash
- You Have Someone Else Fill the Machine with Someone Else's Cash - Hiring an Armored Car Service to Fill All Your ATMs (Vault Cash)
- ATM Machine Franchise * Partnership *
Securing Your ATM To Prevent Thefts
Even if you don’t load a bulk of amount into your ATM, keeping it safe from criminal activity is of utmost importance. Of course, if a criminal exploit your cash machine, you will not only have to bear financial losses, but it will also damage your credibility.
As a result, you will lose your loyal customers due to the fragile security system; they will switch to the ATM option that will be more safe and secure. So, if you want to retain your customers, it is highly crucial for you to integrate your ATM with the latest security options.
For that, make sure your ATM safe is upgraded to UL 291 level 1 vault; it contains thicker metal, which ensures to withstand physical heists and robbery attempts. Furthermore, use a highly sturdy lock system like Cencon, so that the cash is loaded securely. Also, make sure to reliable cash deliveries, such as MOBILEMONEY’s armored truck, since it features the latest security network and provides you with safe cash deliveries.
Besides this, you can also opt for monitoring service; it will not only prevent unfavorable incidents like a robbery but also alert you before your ATM runs out of cash.
Not to mention, if your customers often fail to process the transaction through your ATM, they are more likely to drive to another ATM spot, where they will be able to conduct financial transactions without any hassle.
Whether you have a gardening store, grocery shop, hotel, or casino, installing an ATM at your business location is one of the best ways to boost your revenues. Also, deploying an ATM is a small investment; yet, you need to adopt smart strategies to leverage it to enjoy maximum benefits.