Earn with ATM Machines – Tips on how to Pick an ATM Company

Before leaping into getting an ATM machine you’ll want to do your house work. When you buy 1 you still require an ATM provider to process the transactions (similar to charge card processing). This article will discuss how to decide on an ATM provider to greatest service your ATM processing requires and the best way to ensure you pick the right ATM machine.

ATM machines have come way down in cost since first being released to the retail portion in the early 90’s. With advances in technology as well as the variety of really good machines still in service we see numerous worn devices available on the web including auction sites. I urge you to be wary of any used machine unless you know precisely where it arrived from, when it was processing final and who serviced it. A number of these pre-owned machines we see for sale are certainly not 3DES (Triple DES) compliant, and neither do they’ve keys or perhaps management passwords.

3DES is an encryption process in the key pad as well as firmware which often protects the customers PIN number from being stolen when the ATM is dialing the Processor and requesting a transaction. 3DES became a necessity a few in years past so we’re seeing more mature devices for sale which can be 2 inches cheap. These ATMs are boat anchors or even require expensive upgrades.
If you see some ATM machines for sale which are less than $1,000 used be pretty cautious. My advice is not to obtain a used ATM unless it is from a respected company and comes with a warranty. I strongly suggest staying away from ATM machines offered by private parties or individuals unless you’re very informed about the brand, model, condition and compliant state of that product.

You can purchase new ATM’s for about $2,000 (as of this article writing) and many refurbished 3DES compliant ATM’s for $1,000 and up which are going to incorporate a labor warranty and parts.

After you get an ATM Machine you will still need ATM processing. Look for an ATM business which specializes in ATM processing (I recommend to Google the phrases “ATM Processing” or even check out the creator comment links below).

A good ATM company should provide ATM’s with or even with no processing. They would additionally provide ATM processing only in case you already have an ATM Machine. If you’ve an operational ATM Machine and know every one of the passwords and have all of the keys a good business should be able to simply re program your ATM Machine onto their ATM processing platform. To find out if an ATM machine you are contemplating purchasing is compliant we suggested calling a number of ATM processing Companies.

A reputable company will typically call for a processing agreement to protect you as well as them legally as required by sponsoring banks and networks. These agreements are generally 3- 5 years but there are lots of companies that negotiate fewer years not to mention some that offer only a 2 year arrangement with absolutely no sign up price. We know of several ATM companies that have an 84 month phrase (that’s 7 years). A lot can change in seven years, I’d advise you keep shopping around if any individual tries making you sign an agreement more than thirty six months.

ATM Agreements protect you since these businesses are moving your funds when 1 of your customers withdraws money from your ATM. They move the funds from that ATM customers account into your bank account. Which will need to be performed nightly except for holidays. Agreements protect the ATM company because quite a lot of them don’t charge set up fees but incur costs to create your product so it will take them a few months to a year to recapture all those rates.

ATM processing discounts range from eighty five % of the surcharge plus $0.20 – $0.25 cents (bank end revenue) up to 100 % of the surcharge plus $0.20 cents based on your ATM machine usage volume. Some ATM companies offer a Tiered rebate which happens to be linked to ATM performance.

Many ATM companies also offer ATM accessories at drastically reduced rates to get you to sign a long-term processing agreement. This is typically a loss leader so you only look at just how affordable the ATM equipment actually is and do not actually pay attention to the ATM processing portion of the deal. Look out for a deal on ATM technology that seems “to advisable that you be true”. This’s definitely situation of “you get what you pay for”.

If the ATM Machine you realized is cheaper than everyone else, be sure you read through the words of the processing agreement. Most ATM Companies that offer crazy deals on the ATM Machine will make you sign an extremely long term arrangement for ATM processing.

If an ATM business is selling ATMs too cheap or even offers a rebate that is too high, then something must go through. They can’t give ATM machines away and provide you with an impressive rebate and give you proper service or perhaps stay in business. This’s a red flag. Keep in mind, they are handling your money. You’d like them to make money in order that they remain in business to deal with some problems that arise.

The thing that suffers most when companies give away to a lot is usually service. Consider what it will cost if your had been getting $2.10 every time someone used the ATM of yours and it was used by 300 folks per month. That’s $630 monthly. Now, what if your ATM has a problem and you can’t get help, or even parts or service for a week or perhaps longer — it’s costing you $21 each day — or perhaps over $150 a week.

Hunt for an ATM business enterprise with 24 hour 7 day support with a toll free number. Then, if you’re a company which usually counts on help late evenings or weekends you need to test it and call the amount at 11pm or perhaps on a Sunday and find out if they answer the phone.

If the cell phone is answered live that’s a very good indication of service that is good. If it goes to voice mail, go out of a message — let them know you’re not a consumer yet but you’re testing to find out just how good or even quickly their 24/7 tech support really is.

If your phone call goes unanswered or perhaps takes hours to be returned, that’s probably a sign of a deal to great to be real.

Summary:

When shopping for an ATM Machine expect to pay $1800 – $3000 for a reliable one.
When shopping for ATM processing look for a deal where you can get no less than 100 % of the surcharge. And in case you have as well as expect to have high volume bargain for a little of the “back end” belonging to the deal (maybe an additional $0.10 – 1dolar1.20).
Try not to sign an ATM processing agreement longer than 2 – three years.
Ask for references of remaining ATM buyers and CALL them.
Check the ATM business tech support claims, is it really 24/7 service Ask exactly how ATM discrepancies “chargebacks” are handled (a good ATM processor will handle them for you).
Ask what if any charges are needed to get started (sign up fee, rebates, application fee, etc.)
Watch out for hidden fees, bait and switch, etc.
Read the ATM processing agreement and make certain withdrawn funds are deposited routine (business days).


ATM MACHINE PLACEMENT

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