ATMS AND O.P.M. OH MY HOW MUCH MONEY DOES IT REALLY COST TO START AN ATM BUSINESS? CAREY BUCK
If that’s the case and you
don’t want to fill your ATM
that often; you simple put
more cash in there.
But
$1,500 will be a good starting
point for you to be able to
determine how much you’d
like to leave in your ATM over
time.
How the cash in the ATM
works?
That initial $1,500 that you put inside the ATM, is all you will need in the machine if you’re ok with how long it
lasts.
You see, that initial $1,500 is constantly recycled through the ATM, the customer’s bank account, and
ultimately back into your bank account.
As an example: Let’s pretend I go to your ATM that has $1,500 in it. You have a $3.00 surcharge fee. I go
and withdraw the entire $1,500 from your ATM. My bank account will then be debited $1,503. $1500 for the
cash I took out of your ATM and $3 for the surcharge fee that your ATM charged me.
Now, within 24 hours (except weekends and holidays) you will have $1,500 credited to your bank account.
You can also choose to have the $3 credited to your bank account within that same time frame or you can
choose to have all surcharges credited to your bank account once a month (I choose the latter just because
it’s easier to keep track of).
You now go to your
bank,
withdraw
that
same $1,500 and take
it to the ATM and load
it into your ATM. This
cycle
happens
over
and over and over
again.
Whether you are using O.P.M. or you have cash
in the bank you’re going to need roughly $4,000
for your first complete ATM set up