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ATM FAQs
Is it profitable for my location to own an ATM?
It depends. It's like that old retail saying: "Location. Location. Location!" Though most ATMs are profitable, some are not. A good rule of thumb is taking monthly total customer count (TCC), and depending on the TCC, multipying it by either 2, 3, 4 or 5 percent. 2 Standing for lower TCC and 5 being a very high and active TCC. The multiplied number is an average transaction count for the location's ATM. Example: TCC per month is 9000 x .03 for average = 270 transactions.
What kind of expenses will I incur owning an ATM?
ATM expenses are minimal after the initial purchase:
- Monthly telephone line charges: When ordering a telephone line, the ATM dials an 800 number. Therefore a long distance carrier isn't needed. In some cases, phone companies will drop the long distance carrier fee.
- Paper: ATM receipt paper is generally inexpensive, around $60 for a case.
- Bank Charges: Most banks have minimal bank fees for separate settlement accounts.
- Parts Labor: After initial warranty of the ATM expires, all parts and labor charges would apply.
Where should I locate my ATM?
The best location for an ATM is close to the cash tender area or front door. The ATM is a convenience for customers. Having it easily accessable and in plain site will ensure more transactions & usage.
Please feel free to contact us if you have any additional questions.
