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Posted: 10/16/2008 4:57:01 AM EDT
[#1]
Was a very lucrative business from about '96, when surcharging became legal in most places, until about 2-3 years ago. Now, consumers are steadily using ATMs less and using their debit cards more. The reason being is that ATMs cost the consumer too much. If you're an ATM deployer, you might get lucky and get a couple of good locations but the market is pretty well saturated right now. Growth in ATM activity has been less than 5% per year for the last five, or so, years.
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Posted: 10/16/2008 5:06:59 AM EDT
[#2]
Even teenagers are smarter than to use ATMs anymore.
People use debit cards, credit cards, or... they go to the bank where the machine is free. You have to consider, you don't even need cash to fill the gas tank anymore. Theres no longer a need to have an ATM at every gas station and convenience store. Every checking account comes with a debit card, which wasn't the case during the 90s. Another thing I've noticed, theres not as many different banks as there used to be. Therefore, wherever I go there seems to be an HSBC or Citibank. The way things are going, it seems like 2-3 banks are going to buy out all the rest eventually. When you had 15 different banks operating in a city, it was harder to find an ATM. Nowadays the big banks offer the most free stuff and have branches everywhere, negating the need for people to pay ATM fees. |
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Posted: 10/16/2008 5:16:16 AM EDT
[#3]
Thanks for the info. I was listening to someone talking about this and he said that the average withdrawl was $60 and his machine was taking about $3 for the transaction. Not a bad profit.
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Posted: 10/16/2008 5:17:27 AM EDT
[#4]
Its been well over a year since I've used an ATM.
If I need cash for anything, I'll stop off at a store (grocery, Wally World, Home Depot etc.) and buy something small and use my debit card and get cash back. What I buy is usually less than the $1.50- $3.00 charge the ATM charges for the transaction, I get something I need at the store and I get the cash. |
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Posted: 10/16/2008 5:19:36 AM EDT
[#5]
Not what I was expecting at all...
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Posted: 10/16/2008 5:21:05 AM EDT
[#6]
was in POS/DEBIT IT for a long time.. i saw all kinds of products..
one product that you might look into (if it still exists.. its been a while) is a script printing ATM. Say you put a device in a convenience store, guy goes in , ask for 60 bucks.. device prints script.. does not hold money.. guy takes that to counter buys beer and gas, gets change.. not sure how much sense this makes unless the store does not want to handle debit transactions on their POS systems... |
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Posted: 10/16/2008 5:22:22 AM EDT
[#7]
What were you expecting? |
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Posted: 10/16/2008 5:22:38 AM EDT
[#8]
Isn't there a huge upfront cost? Then massive upkeep costs? The damn things always go on the blink. Then theres the personal security aspect, filling that machine is one BIG HUGE bullseye. |
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Posted: 10/16/2008 5:24:42 AM EDT
[#9]
You can google A2M or ATM if you really want to know. Judging by your sig line, you probably don't. deimos does paint an interesting mental picture on it though.
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Posted: 10/16/2008 5:26:45 AM EDT
[#10]
I still use ATMs but it is rare for me to use one that doesn't belong to my bank. I've found that, locally, it costs less for me to drive to my bank and use their ATM than to pay the surcharges from another ATM's owner and my bank(about $5 altogether if I use the one down the street).
You may still be able to make good money with high surcharge ATMs like the ones at bars, nightclubs, and strip joints, but they probably aren't worth the effort. |
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Posted: 10/16/2008 5:26:51 AM EDT
[#11]
ATM = Automatic Teller Machine ATM Machine = FUN! 
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Posted: 10/16/2008 5:27:18 AM EDT
[#12]
You probably don't want to google "ATM" especially if you are at work 
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Posted: 10/16/2008 5:35:31 AM EDT
[#13]
TCO is quite expensive on an ATM. |
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Posted: 10/16/2008 5:39:18 AM EDT
[#14]
There's a member here from the DFW area that runs/ran an ATM business. Some thugs stole his AR with suppressor from his vehicle. AFT sting ensued. Made the news and everything. Hopefully I'll be able to find the thread... |
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Posted: 10/16/2008 5:44:07 AM EDT
[#15]
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Posted: 10/16/2008 5:45:25 AM EDT
[#16]
Holy shit  Though, that beats filling a machine in some shady corner store and getting popped in the back of the head. Thats the sort of thing I'd worry about. You would not want to be unarmed or alone... so factor in an armed employee/partner, and that $900 a month revenue isn't so hot anymore. I'm quite a pessimist and I live in Shithole, NY, so be sure to take that into account. 
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Posted: 10/16/2008 7:06:26 AM EDT
[#17]
I can't find the thread. My archive fu is weak. But to give a brief run down of the events...
Thugs see him working on ATM machines. Thugs follow him home and break into his SUV and steal rifle/KAC suppressor, I can't remember if they got any money. Thugs come to his house and tell him they want in on the action because they think HE'S robbing the ATMs. He goes along with it but calls the police/ATF and they set up a sting on said thugs. Everyone lives happily ever after. |
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Posted: 10/16/2008 7:08:16 AM EDT
[#18]
If I do use an ATM, I use the one at my bank. No fees.
Every now and again I see someone using those franchise machines at a quik stop. |
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Posted: 10/16/2008 7:12:43 AM EDT
[#19]
That was a great thread. |
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Posted: 10/16/2008 7:24:43 AM EDT
[#20]
This is starting to sound like the deal my BIL was working on 10-12 years ago.
His own string of pay phones.  (He passed). ETA- I've never used one. Use my C/C or make arrangements to have the cash on hand. |
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Posted: 10/16/2008 7:48:01 AM EDT
[#21]
One of my all time favorites. |
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Posted: 10/16/2008 7:57:34 AM EDT
[#22]
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Posted: 10/16/2008 8:38:19 AM EDT
[#23]
I have a co-worker that runs ATMs. He started out small and now clears mid 50k a year. The only reason I know is because my parents live in a FL town that he won the ATM contract in a grocery store. He showed me his books and was looking for someone to run those machines (We both live in TX).
It's all about location. Good machines are good money. He expects to make mid 70s before the end of the year. |
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Posted: 10/16/2008 8:39:24 AM EDT
[#24]
There's a fee. Your bank pays it. You may not see the charge, but the ATM owner gets paid. ETA: I misread your post. I thought you were saying your bank doesn't make you pay the fees. |
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Posted: 10/16/2008 8:41:08 AM EDT
[#25]
IIRC the machine runs 7K and can be bought with a service contract. The money in the machine is yours. So you have to keep filling it. My co-worker just ordered a Class IIIa vest for money runs. |
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