ATM Machines - Anyone own / manage them?

5,007 Views | 43 Replies | Last: 6 mo ago by KT_Ag08
htxag09
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AG
What are we arguing about here? Is this in relation to the op or a tangent?

Sure, cash isn't going away and there are people who don't have bank accounts. Those people definitely aren't helping the op and likely not frequenting this barber shop. The question was about one atm in a barbershop in a middle class suburb. (Some assumptions based on all the soccer mom talk)
Diggity
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AG
agreed.

I would also venture the limited data points other people are mentioning about service folks going "cash only" still take Venmo/PayPal/Zelle.

If you're marketing to middle-class clientele and above and you're not taking these things, you're severely limiting your business.

techno-ag
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AG
Car washes are another cash business. At least in Albuquerque.

The left cannot kill the Spirit of Charlie Kirk.
Brian Earl Spilner
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AG
highvelocity
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AG
haha.. yeah this got a little derailed. but i was able to get some useful info from the **** slinging
waryman
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AG
But Visible Changes will not add the fee if a debit card is used. Are businesses exposed to a fee when debit cards are used?
techno-ag
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waryman said:

But Visible Changes will not add the fee if a debit card is used. Are businesses exposed to a fee when debit cards are used?
Debit cards charge the business less, to my understanding, because they deduct from a bank account rather than a CC account.
The left cannot kill the Spirit of Charlie Kirk.
Southpaw 07
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AG
I worked for a company that owned & operated ATMs on a large scale - mainly major retail contracts and bank partnerships but we also provided transaction processing services for independent owners.

As already stated, your income stream will be surcharge fees on transactions. Your main expense will be transaction processing. Other costs to consider are the opportunity cost and risk of theft from having cash in the ATM/settlement account, communications (cellular is common), receipt paper, etc.

Refilling cash in the machine would be at least a weekly task if the equipment is going to operate profitably.

With respect to overall ATM usage, interesting trends emerge across larger sample sizes. We operated over 200k individual ATMs in the US and one of our key metrics for financial performance and increasing cash loaded to the machines was the timing of EBT/welfare payments. A lot of the govt assistance cards went straight to the ATM for conversion to cash. We also saw increased volume around major sporting events (i.e. Super Bowl).
KT_Ag08
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AG
Automated Teller Machine Machine.
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