The atm machines have extricated the burden of carrying cash from our heads. Precisely we are too dependent on ATMs. Besides ATMs being a facility, they provide an earning opportunity if you observe thoroughly. With ATMs and a nominal investment, you can earn a handsome income. However, a good businessman makes big out of something.
Also Read: 5 Most Crypto-Friendly Banks In Canada, With Bitcoin ATMs
Are you still wondering what we are talking about? If yes, then you don’t need to be anymore. This blog sheds light on how to earn an income by installing ATMs. Anyway, read this blog to the end to illuminate your thoughts.
ATM As An Income Stream
Do you know when a person withdraws cash from an ATM, they have to pay a surcharge fee on every transaction? No wonder numerous people use ATMs in a single day. Hence, if someone owns an ATM, they can earn hundreds of dollars each day. By allowing people to withdraw cash that too from their personal accounts.
If someone can own an ATM, then why can’t you? Most people are doing this business. Try searching “nearest atm from me” on any search engine. You would notice ATMs around you installed by banks like citibank atm or scotia atm. Apart from this, you can also notice ATMs installed by private owners without any bank logo.
Here you can sense an earning opportunity, own an ATM and earn considerable revenue.
Earning through Surcharge Fee
Generally, per each transaction, the withdrawer has to pay some amount as surcharge fees. This amount varies from service provider to service provider. Usually, it ranges from $2 to $3 and sometimes $3.5; however, if you own a business, i.e., a store, restaurant, salon or even a clinic. Customers would come to your business place to withdraw cash and give you a surcharge fee per transaction. In this way, you have an opportunity to earn $200 to $300 a day.
Also Read: How A Banking Software Can Help Your Business To Grow.
This business model has changed the atm meaning for retailers, merchants and business owners. Now they see an ATM as an earning opportunity for them. Additionally, to earn a surcharge fee, you don’t need to have a store or a business place to earn a surcharge fee. You can earn a surcharge fee by installing an ATM at any public place.
Various Plans For Getting An ATM
There are two ways to get an ATM.
Owning an ATM
The first way is to own the ATM completely. In this way, you need to buy an ATM from the service provider. The service provider will be responsible for installing the ATM and providing you access to all credentials. Once you have got your hands on ATM, you are the boss. You have to load and reload the ATM from time to time, and with the surcharge fee you earn, you’ll have it all. Besides this, you will also provide an internet connection and electricity connection to your ATM. An ATM costs anything between $3000 to $10000. The price may vary from service provider to service provider. You must have seen the ATMs of banks, i.e. bank of america atm, pc financial atm etc., placed in public places like shopping malls, hospitals or stores. They follow the same business model.
Getting an ATM on rent
The second way is to get an ATM on rent or lease. Most merchants and retailers follow this way of getting an ATM. However, to buy an ATM, retailers have to pave thousands of dollars. On the other hand, The retailers must pay only a few hundred dollars to get an ATM on rent. The rents of ATMs may vary from service provider to service provider. Usually, the price range lies between $300 to $700 a month. The downside of this business model is that you have to share a percentage of revenue with the service provider. Most service providers demand 25% of your revenue; some may demand even more. However, when you get an ATM on rent, the service provider is responsible for cash loading and reloading. You only have to provide an electricity and internet connection to the ATM.
The ATMs don’t only earn you extra revenue but also help you to boost your sales. Numerous customers just hate carrying cash and rely on ATMs. You just have to cash this opportunity by providing them with an ATM facility. More and more customers would visit your store just to withdraw cash; they are your potential customers. They may be your customers over time.
Also Read: 4 Best ATM services in Canada, along with RBC ATM service
However, if you are a business owner but don’t have an ATM at your business place, you are certainly missing on big numbers. You need to realize whats mean atm to the general public and customers, in particular, to cash out this opportunity.
Cash Wave
Cash wave is there to help businesses and retailers with the ATMs they need. However, Cash wave is there whether you need an ATM, ATM switch, cash reloading service or sales report. Cash Wave aims to empower small and mid-sized businesses with revenue-generating opportunities. Anyway, make sure to call us to avail of our services in case you need any.
Conclusion
People are tired of searching for “td bank atm near me” or any other bank. The public ATMs are only a few compared to people using ATMs. Therefore this gap needs to be filled, and if you can fill this gap, you will be minting high profits.
