“The bank has offered to place a machine at no charge.”
The Banks have a much higher break-even point in operations with an ATM than a retailer. Banks typically use very expensive full service machines that operate on a leased telephone line. They will need at least 1500 – 2000 transactions a month to justify an ATM placement. If a bank wants to place an ATM at your location wouldn’t it be in your best interest to own the machine yourself and keep all the income? Owning the machine yourself will put you in control of the surcharge, future marketing opportunities to sell other items from the ATM and keeping the ATM in your location.
“I do not want to be responsible for the cash or give a manager access to the cash.”
Most people think you need to load a great deal of cash in the machines. However, the actual amount you need to begin is only around $2,000.00. As the machine processes transactions, the money will be returned to you electronically in about two business days. Typically, most store managers handle more money than this in their daily deposit.
“I don’t have enough room in my location for an ATM.”
Tidel, Cross and Triton designed their machines with the merchant in mind. The actual footprint of the terminal is just a couple of square feet. The terminal is estimated at 18 inches wide and 26 inches deep.
“I cannot afford a cash outlay of 10,000.00 to purchase an ATM.”
There are many leasing options available with very low down payments.
“The store across the street already has an ATM.”
All the more reason to have an ATM in your location. Customers in need of cash are going across the street and more than likely spending money with the competition.
“I don’t have time to keep up with an ATM.”
After a little practice, it will take less than 5 minutes to load the terminal. Daily reports will take just minutes to run.
