ATM machine ownership

[Dushon]

Anybody own any ATM’s? Tell me the good, the bad, and the ugly. Found prices online from a little to a lot. Are there monthly fees?


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[Quackerbox]

I know a fella whos running close to 30 machines now. Hes making a killin!!


Buying the machines is the easy part. From listening to him finding a person to front the money to fill them is the hard part. Then locating a place where they will make you money is next.

[Dushon]

I know a fella whos running close to 30 machines now. Hes making a killin!!


Buying the machines is the easy part. From listening to him finding a person to front the money to fill them is the hard part. Then locating a place where they will make you money is next.

I have a place lined up already. What do you mean he’s having trouble with someone fronting the money?


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[Smithwr]

I have a place lined up already. What do you mean he’s having trouble with someone fronting the money?


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Do you have cash to stock it with is what hes talking about

[Quackerbox]

I have a place lined up already. What do you mean he’s having trouble with someone fronting the money?


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When he started out the money to feed the ATM didnt come from the bank. He borrowed from investors. And in return gave them a percentage of the money he made per transaction. Hes made enough now he doesnt have to 'rent' money per say. Most of his machines are moved to events here and there. On big events he still contacts the investors to borrow 100-150k for a few days. Quicker and cheaper than a bank according to him. One annual event he runs thru 60k a day

[Atfulldraw]

Thanks to the new regs, I decided it wasn't for me.

The heat is definitely on for increased compliance and customer identification policies and procedures.

The juice wasn't at all worth the squeeze.

[Dushon]

When he started out the money to feed the ATM didnt come from the bank. He borrowed from investors. And in return gave them a percentage of the money he made per transaction. Hes made enough now he doesnt have to 'rent' money per say. Most of his machines are moved to events here and there. On big events he still contacts the investors to borrow 100-150k for a few days. Quicker and cheaper than a bank according to him. One annual event he runs thru 60k a day

Oh wow i could see how that would be a problem. This wouldn’t be that big. At least not for a long time


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[Dushon]

Thanks to the new regs, I decided it wasn't for me.

The heat is definitely on for increased compliance and customer identification policies and procedures.

The juice wasn't at all worth the squeeze.

Care to elaborate? You sound like the websites I was trying to read haha


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[Bowhica]

Thanks to the new regs, I decided it wasn't for me.

The heat is definitely on for increased compliance and customer identification policies and procedures.

The juice wasn't at all worth the squeeze.

I like juice......we should hang out. I'll be at the ranch this wknd. You still playing around in Heaven's waiting room?

[glen]

The guy that does it for ACL in Austin goes through over $300k a day. He charges $4 to get $20 out and splits it do he gets $2 each $20. Math says he does pretty good for a 5 day event

[Tuffbroadhead]

I'll add.....good notes help a lot . You don't want brand new notes or ones that have been in circulation too long, both will cause issues with the dispensers. Atms require preventive maintenance to keep them running in a proper state.. The cheaper models will have cassette options of 1 to 4, each cassette has the ability to hold up to 40k so you can see where the front money is needed.

[Quackerbox]

The guy that does it for ACL in Austin goes through over $300k a day. He charges $4 to get $20 out and splits it do he gets $2 each $20. Math says he does pretty good for a 5 day event

yep, my buddy is about the same. Sometimes puts 100 dollar limit per transaction. You can literally watch the same card number come across his phone for 5, 6 or more transactions at gun shows at 4.95 a hit.

He is thoroughly enjoying the juice

[Dushon]

ATM machine ownership

Alright, how much is a good machine? Brand and model name? And are their monthly fees to be hooked up to the banks or is it just need WiFi/internet?


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[glen]

You split money with bank

[Tuffbroadhead]

Alright, how much is a good machine? Brand and model name? And are their monthly fees to be hooked up to the banks or is it just need WiFi/internet?


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The actual machines are made by several companies, Diebold/Nixdorf, Hyuosung, NCR and you might even still see a few Wincor out there that have not been converted over yet, all of them offer lower cost options all the way to Teller assist functions, but most will have proprietary software by one of the companies listed above regardless of manufacture. You can pick up used Hyosung and Triton s for under 2k