How to Buy an ATM Cash Machine

Buy an ATM cash machine and you'll have an endless supply of passive income for the rest of your life.

Banks aren't the only ones who own ATM cash machines....people just like you and me can own them too and I'm going to show you how!

Difficulty:

Moderate

Instructions

Things You'll Need

• $1,500 to $6,000
• Computer (not necessary but helpful)
• Transportation

1. ATM at convenience store

   Before buying or leasing an ATM cash machine you're going to want to find a location to put one. I'm going to assume that you don't own your own store (if you do, awesome, you can put the machine in your store!)

   You'll want to look for high traffic locations. Location is the key to a profitable ATM business.

   Some awesome atm placement spots are convenience stores, pizza shops, bars, restaurants, etc.

2. 30% - 50% cash stays in store

   Now when you find several high traffic locations you're going to want to approach the owners about placing your ATM there.

   You'll have to explain to them that 30% to 50% of the money that gets taken out of the machine actually stays in their store. So they'll have added income.

   If the location is superb, you can offer a profit sharing system with the store owner once the machine gets to a number of hits or even per transaction.

   When someone agrees....get it in writing.

3. Buy ATM Cash Machine

   You can buy an ATM cash machine from a number of places. First, you can do a google search for: buy ATM cash machine and review several sites and get price quotes from several folks.

   Depending on your available cash you're going to get a price for an outright purchase or to lease the machine. Obviously, leasing the machine is much cheaper than purchasing the machine.

   Figure out what works best for you and get the appropriate pricing.

4. Now you're going to have to choose an Independent Selling Organization (ISO) to do your ATM processing.

   The iso is the third party company that handles the behind the scenes tranactions of your atm processing. They take care of withdrawing the money from the customers bank account and depositing it into your bank account.

   The main amount of money withdrawn will generally be in your bank account the next business day. The surcharge that you charge your ATM customers can be deposited into your account a number of different ways. Check with each iso to see how they operate.

   A good idea is to make sure that the iso that you choose has online access for you so you can keep up with your machines and see when they are getting low on cash and will need to be refilled.

5. ATM wireless modem

   You're going to either have a phone line installed now to allow the ATM cash machine to work or you can use a modem.

   Personally, I prefer the modem because if you ever have to move your atm, you can move the modem as well. Whereas if you installed a phone line, you can't really bring that with you.

6. ATM safety

   After you have figured out when you're going to install the ATM cash machine into the location that you have secured, you are going to want to fill the machine with cash.

   You can either use your own cash and fill it yourself or you can pay to use someone else's cash and have them fill it. Obviously, you will be giving up some potential profit to use someone else's cash and to have them load the machine.

   Loading machines yourself and with your own cash is the way to increase your profit the most and only takes a few minutes once you know what you are doing. Of course, there are safety risks for you when loading the machines yourself and with your own money. Please be sure to adhere to common sense saftey tips (don't ever go the same times to fill the machine, don't let the owners know when you're coming, don't ever load the machine alone, etc.) Oh yeah, try to get the store owner to allow you to bolt the machine to the floor.

   Start your machines off with $1500 (all in 20 dollar bills.) Check to see how this amount of money works out in your machine then re-evaluate. Should you add more cash if it gets a lot of activity or are you ok with filling it more than once a month?

7. Now you should look into getting insurance on your ATM cash machine.

   Call around for quotes. Look for general liability, machine coverage and if it's feasible, coverage for your cash that's in the machine. Ask around for quotes on business policies.

   The insurance may not be feasible for you right away. It may really cut into your profit, but definitely look into it at some point as it will give you piece of mind. See how much general liability will cost if a business policy will cost you too much.

8. passive income from atm cash machine

   Have fun now enjoying passive income month after month from the surcharges that you're ATM cash machines are pulling in for you!

   My suggestion is to save 10% of your profits each month to keep putting towards more ATM cash machines.

Tips & Warnings

• It's helpful if you buy stickers to place on the doors of the store locations so folks know that there is an atm insight. If it's a really great location you can look into getting a bright neon sign for the window.

• Shop around and get quotes from several companies for the atm cash machines themselves and for the modems and for insurance. An informed consumer is the best kind to be. (Sometimes who you buy your machine from can actually do your atm processing as well.)

• Don't ever load your atm by yourself; have someone go with you.

• Don't ever keep a routine when loading your machine. No one should be able to figure out your schedule.

• Don't load the machines during busy hours for the store location.

• If you ever get an uneasy feeling about a situation while going to load the machine...Listen to that feeling and do not fill the machine at that time. Come back at a different time.

Resources

• Learn the ATM Cash Machine Business