Everytime someone uses the ATM, They withdraw (ex:$20) plus are charged the $3.50. So the customer pulls out $20, but is charged $23.50. You as the ATM owner just made $3.50 for doing absolutely nothing.
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ATM location is the key to this entire business. If you are in a prime location (dispenseries) you could make $3k a month per atm. I'd say this is the high end of the business. On average, you can make $400-$1,000 a month if your location is good.
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That's $400-$1000 for maybe an hour's worth of work. Now imagine owning 10 different ATM in 10 different locations. Things begin to add up.
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Your main job as the ATM owner will be ensuring your ATM is loaded with cash at all times. ATMs take approximately 1minute to fill. They will be filled with your own personal cash, but remeber, the (withdrawn amount) + (surcharge) is sent back to your bank account.
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So just to cover the financial inside again, someone pulls out $20,$40,$60 with their CARD. They are charged the $20,$40$60 PLUS $3.50 or whatever surcharge rate you set. You literally cannot lose money on the business end of this hustle.
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There is virtually no downside to this business. The only risk are things such as fire and water damage or someone actually stealing your entire ATM. Then likelyhood or those scenarios is slim to none. Nonetheless, be sure your ATM is located INSIDE the actual store for safety.
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Replying to @JdPoe34
So you load your own cash into the ATM. Customer pulls out $20 with their Debt card. Their Debt card is charger $20 + the surcharge rate you've set. Your business banking account you setup earlier, using your EIN, is connected to the atm when installed by your ATM provider.
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Replying to @tellfisher @JdPoe34
What banks are you using to open business account that supports ATM business? No one ever seems to answer this question.
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I answered this in the thread. Credit Unions or small local banks will usually work with you. Large corporate banks hate your business because you are competing with them.
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