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Cash in on ATM Machines – The way to Select an ATM Company

Before diving into getting an ATM machine be sure to do your household work. After you purchase one you nonetheless need an ATM company to process the transactions (similar to charge card processing). This article will discuss the best way to select an ATM company to best service your ATM processing needs and how you can make sure you choose the proper ATM machine.

ATM machines came way down in cost since first being introduced to the retail segment during the early 90’s. With advances in technology and also the amount of excellent machines still in service we come across many worn devices for sale on the net including auction sites. I urge you to beware of any used machine unless you know precisely where it came from, when it was processing last and who serviced it. Many of these used magnetic energy generators we come across for sale usually are not 3DES (Triple DES) compliant, nor do they’ve keys or management passwords.

3DES is an encryption procedure within the key pad and firmware which usually protects the consumers PIN number from being taken when the ATM is dialing the Processor and requesting a transaction. 3DES became a requirement several years ago so we’re seeing older machines on the market which can be very inexpensive. These ATMs are boat anchors or require expensive upgrades.
If you notice any ATM machines for sale which are less than $1,000 pre-owned be really wary. My advice is not to buy a used ATM unless it’s from a respected company and also has a warranty. I highly suggest avoiding ATM machines offered by private individuals or parties unless you’re very familiar with the emblem, model, condition and compliant state of that product.

You can buy new ATM’s for about $2,000 (as of this information writing) as well as several refurbished 3DES compliant ATM’s for $1,000 and up that ought to incorporate a labor warranty and parts.

As soon as you purchase an ATM Machine you will still need ATM processing. Look for an ATM organization that specializes in ATM processing (I suggest you Google the terms “ATM Processing” or even read the creator comment links below).


A reputable ATM small business should provide ATM’s with or even without processing. They would also provide ATM processing only if you already have an ATM Machine. If you’ve a working ATM Machine and know all the passwords and have all of the keys a good company should be able to simply re program your ATM Machine onto their ATM processing platform. To find out if an ATM machine you are thinking about purchasing is compliant we suggested calling some ATM processing Companies.

A good company will usually require a processing agreement to protect you as well as them legally as needed by sponsoring banks and networks. These agreements are generally 3- five years but there are numerous companies that negotiate fewer years and even some that offer only a two year agreement with absolutely no sign up price. We know of a number of ATM companies that have an 84 month term (that’s seven years). A good deal can change in 7 years, I’d suggest you keep shopping around if any individual tries to make you sign an agreement more than thirty six months.

ATM Agreements shield you since these organizations are moving the funds of yours when one of your customers withdraws money from your ATM. They relocate the funds from that ATM customers account into your bank account. That should be done nightly except for the weekends. Agreements protect the ATM company because a lot of them don’t charge set up costs but incur costs to create your system so it takes them a couple of months to annually to recapture those costs.

ATM processing rebates vary from eighty five % of the surcharge plus $0.20 – $0.25 cents (bank end revenue) up to hundred % of the surcharge plus $0.20 cents based on your ATM machine usage volume. Some ATM companies offer a Tiered rebate that is linked to ATM performance.

Several ATM companies also provide ATM accessories at drastically lowered prices being you to sign a long term processing agreement. This is commonly a loss leader so you just look at just how discounted the ATM equipment is really and don’t actually pay attention to the ATM processing part of the deal. Look out for a deal on ATM technology that seems “to advisable that you be true”. This is certainly case of “you get what for” is paid by you.

If the ATM Machine you uncovered is less costly compared to everyone else, ensure you read through the term on the processing agreement. Most ATM Companies that provide crazy deals on the ATM Machine will help to make you sign quite a long-term arrangement for ATM processing.

If an ATM organization is selling ATMs way too cheap or perhaps offers a rebate that is way too high, then something must be affected. They can’t give ATM machines away and also give you a high rebate as well as provide you with proper service or even stay in business. This’s a red flag. Keep in mind, they’re handling the money of yours. You need them to make money in order that they stay in business to deal with any concerns that arise.

The thing that suffers a very when businesses give away to a good deal is usually service. Think of what it would set you back in case your had been getting $2.10 every time an individual used your ATM and it was used by 300 folks per month. That’s $630 monthly. Now, what if your ATM has an issue and also you can’t get help, or even parts or service for a week or even longer — it is costing you $21 every single day — or even over $150 a week.

Search for an ATM organization with 24 hour 7 day support with a toll totally free number. Then, if you are a company which often counts on help late evenings or weekends you should test it and call the number at 11pm or on a Sunday and see if the phone is answered by them.

If the phone is answered live that is a very good indication of service that is good. If it visits voice mail, leave a message — let them know you are not a consumer yet but you are testing to find out how good or even fast their 24/7 tech support really is.

If your call goes unanswered or takes hours to be returned, that’s probably a sign of a deal to good to be accurate.

Summary:

When shopping for an ATM Machine plan to spend $1800 – $3000 for a responsible one.
When searching for ATM processing look for a deal where you get no less than 100 % of the surcharge. And if you have or even look to have higher volume make a deal for somewhat of the “back end” of the offer (maybe an additional $0.10 – 1dolar1.20).
Try not to sign an ATM processing agreement longer than two – three years.
Ask for references of other ATM clients and CALL them.
Check the ATM organization tech support claims, is it really 24/7 service Ask how ATM discrepancies “chargebacks” are managed (a great ATM processor is going to handle them for you).
Ask what if any charges are required to get started (sign up fee, application fee, rebates, etc.)
Watch out for hidden costs, etc and switch, bait.
Read the ATM processing agreement and ensure withdrawn funds are deposited daily (business days).

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