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Finding the Right ATM Solution for Your Business

By December 18, 2015April 7th, 2022No Comments3 min read

An ATM sign on a business does two things:  First, it draws in people who may not have visited you otherwise. Second, it signals to your customers that you are there to make their lives simpler. An ATM is also a good source of revenue, but not all ATMs are set up the same way or pay the same amount. That’s why it’s important to choose the right ATM solutions for your business.

woman using ATMThe three most common ATM solutions are:

1: The “Turn Key” ATM

This is the best ATM solution for most small individually owned businesses. It is ideal when you want to offer your customers the convenience of an ATM, and potentially attract customers because of it, but you do not want to personally manage or be responsible for the ATM in any way.

A turn-key ATM will be installed and set up by the ATM company. They will then take care of all incidentals, including tracking the transactions and making sure it’s stocked with cash, keeping it full of paper for receipts, and maintaining and troubleshooting machine issues. All you ever have to do is call them if there’s a problem.

The upside of a turn-key ATM?  Simplicity and no employee training. The downside?  Merchants may receive a lower percentage of ATM fees.

2: Merchant Loaded

This is an approach where you, the merchant, will take care of basic ATM needs:  you’ll keep it supplied with cash, and you’ll change the receipt paper when it gets low, which requires additional work from your business. You, and ideally several trusted high-level employees, will need to be trained on how to carry out these functions. However, the ATM company still owns the machine and manages maintenance on a higher level.

The advantage of this approach is you get a higher percentage of the fees. The downside is that you need to monitor and manage the ATM yourself.

3: Own Your Own ATM

This ATM solution means you keep the majority of the ATM fees yourself, sharing only a small amount with the ATM company that provides the network. You pay up front for the machine, and manage all loading, supply and maintenance yourself. (You may be able to negotiate cash supply with the ATM company, however.)

This is the highest profit model for you but takes the most investment and ongoing labor.

Contact National Cash today to find the best ATM solutions for your business!