ATM Machine Frequently Asked Questions
1. What are the main reasons I could
benefit from owning
or leasing my own ATM?
Here are some of the benefits
of having an ATM in your business or location.
- Allows your customers access
to their available cash from their debit,
bank and credit cards.
- Keeps your customers in-house
so they don’t leave your location to
get cash from a different ATM nearby.
- Increases retail sales by
up to 50% of the amount withdrawn from your
ATM.
- Reduces or eliminates the
need to accept checks.
- Reduces credit card usage
and credit card fees and expenses.
- Generates store traffic from
walk by traffic.
- Increases your customer satisfaction
and loyalty.
- Best of all; receive surcharge
revenue for every transaction.
2. Are
there any monthly charges or hidden monthly
fees for my new ATM?
No hidden fees, no monthly fees,
no per transaction charges for transaction
processing. The only long term fees you will
have will be for the dedicated phone line,
electricity and keeping it stocked with cash
and receipt paper, which we provide for free
for life.* (as long as you process your transactions
with us, we will supply free receipt paper
for life.)
3. What’s
included with each ATM purchase or ATM lease?
- Free Shipping & Installation
- Free ATM Lighted Neon Sign
- Free ATM Lighted Topper
- Free Online Web Reporting
- Free Receipt Paper For Life
- Free Processing - No Fees
4. When,
and how much can I be paid with my own ATM?
Once the new ATM has been in service for one
month, you will receive a detailed monthly report
that details the total number of transactions,
total cash dispensed and total surcharge revenue
earned for the month. You will make 100% of the
surcharge revenue generated by your ATM (automated
teller machine). ATM Experts will mail out monthly
residual checks along with your detailed statement
summary on the 20th of each month.
5. How
do I load my ATM?
Once your ATM is installed – you
will be trained on the procedure of loading
cash into your new ATM machine. Your money
will be re-deposited back into the bank account
of your choice on a daily basis as customers
withdraw cash from your ATM. During the regular
work week, your cash will be re-deposited back
into your account within 24-48 hours from the
time it was withdrawn from the ATM. All weekend
transactions which include Friday, Saturday
and Sunday, will be deposited the following
Tuesday.
6. How
much revenue can I expect to generate from
an ATM placement?
That generally depends on the
amount of foot traffic your location has on
a daily basis. The rule of thumb goes like
this. 3% - 5% of the foot traffic that actually
sees the ATM machine will use the ATM. So let’s figure that
you have a total of 300 people a day coming through
your doors, and let’s say that you are
charging a $2.25 surcharge per valid withdrawal.
If you take the middle road that 4% of the people
that see the ATM machine will use it. Then you
can count on your new automated teller machine
to generate you a minimum of 360 transactions
per month at $2.25 per valid withdrawal. That
comes out to $810 per month or a total of $9,720
per year. All that from one ATM machine at one
location.
7. How secure are ATM Machines from robbery?
ATM machines are broken down into two different
types of ATM classifications.
- Level 1 armored ATM: Level
1 ATM’s
are used primarily as outdoor ATM’s.
Such as outdoor entertainment districts, outdoor
flea markets, outdoor concert and events, etc.
- Non-armored ATM's: Non-armored
ATM’s
are used primarily for indoor locations that
are closed to the public when employees are
not present. Such as indoor malls, movie theaters,
night clubs, restaurants, bars, etc. Good examples
of non armored ATM’s are the Triton
9100 ATM and the Tranax
Mini Bank 1500 ATM.
8. Can
I co-brand my ATM with my company name?
If the ATM
machine is owned entirely by you,
then yes you can.
9. My company accepts credit cards - Is it still
worthwhile to place an ATM Machine?
Absolutely! This will not only
put available cash in the hands of your customers,
but it will also help save you money on your
credit card processing fees.
10.
Can I acquire a temporary ATM Machine placement
for a limited time event?
Yes you can! Simply email us at specialevents@ATMexperts.com and
we can discuss your options.
11.
What kinds of reporting tools do you offer?
We offer real-time online transaction statistics.
You will be able to view over a dozen different
reports such as detailed transaction history,
low cash alerts, monthly transaction totals,
etc. If you have any questions about our online
reporting tools, please contact us by clicking
here.
12.
On a Free ATM Placement, who is responsible
to fill the ATM with cash?
ATM Experts is totally responsible to keep the
ATM machine filled with cash at all times. With
a free ATM placement, we handle everything.
13. Whose is responsible
for machine repairs and regular maintenance?
With a free ATM placement, we are 100% responsible
for all repairs and maintenance. If you own the
ATM, then you are 100% responsible for all repairs
and maintenance. Please remember, each new ATM
comes with a full parts and service warranty.
For more info, please contact
us .
14.
What are the requirements to qualify for
free ATM machine placement?
Traffic volume and location will determine eligibility.
15. How
do cashless ATMs work?
Customers slide their ATM/Debit
cards through the Cashless ATM and enter their
secret four digit PIN#. The customer then chooses
a dollar amount (can be programed in increments
of $10.00 or higher), then the machine connects
to the EFT (Electronic Funds Transfer) networks,
and validates the transaction in a matter of
seconds. Your customer then receives an "approved" Cash
Voucher/Receipt, which is now considered cash.
The Cashless ATM supplies the customer with a
two-part receipt. The customer presents the Cash
Voucher/Receipt to the cashier. The customer
keeps the customer portion of the receipt for
his/her records, and the merchant keeps the merchant
portion for their records.
Receipts can only be used at your business for
merchandise with cash back or just for cash.
The receipts you accept are the same as cash.
A Cashless ATM in a location
does not mean the merchant has to have more
cash in the register. Reason is our cashless
ATM's average $25.00 per withdrawal (not including
the purchase). Our merchants don’t go
through more money than they normally have
on hand. Plus the funds that you pay out of
the register are directly deposited back into
your account within 48 hours.
Have Questions?
Please contact us to discuss any questions you have about the ATM business or ATM machines themselves. |
