How You Make Money with an ATM in Your Business?
BFC Enterprises • February 3, 2023

The news pundits keep talking about the end of cash. So, one of the big questions for retailers is, can I still make money having an ATM? The answer, of course, is a resounding “YES”!


While pundits would have everyone believing standard self-service banking is on its way out, studies show consumers 18 to 34 years old visit an ATM over seven times per month. Older consumers use these cash and account machines five or more times in the same time frame. In fact, the standard ATM usually performs around 300 transactions on a monthly basis. That’s about 75 ATM users per week.


But how do we translate that ATM use into actual revenue? Here are a few options that can help retailers make real money from an onsite ATM.

Owning Your Own Machine Nabs You Most of the Surcharge

Owning and operating an onsite ATM seems like a no-brainer. After all, if you’re running the machine, you keep the vast majority of the revenue. You control how much the surcharge fee is and depending on how much work you’re putting in the more you make from ATM users who pay to get cash at your location. As a bonus, loading the machine with the store’s cash can help save on bank runs or armored carrier pick-up fees, especially for retailers that take in quite a bit of currency daily.


But running an ATM isn’t all profit. Businesses that choose to own and operate their own machine must also bear the brunt of the cost for all the pieces that go into making the machine run. These operational costs include but are not limited to processing, communications, first and second-line maintenance, and consumables.


However, owning and operating your own machine isn’t the only way to earn extra revenue with an on-site ATM.


Retailers Can Still Earn Money Without All the Extra Work

Retailers that want to make money from an onsite ATM don’t want to own and operate the machine, can choose an ATM placement program.


ATM placement programs take the burden of the equipment and operational costs off the retailer. A typical provider will include processing, cash loading, maintenance, and consumables all at the standard cost of the program.


But what about the surcharge fee? Placement programs come in different shapes and sizes. Some might charge a monthly fee and let the establishment keep the surcharge revenues. Others offer to split the surcharge revenue to lower or eliminate monthly fees to the retailer. In many cases, businesses with surcharge-split programs are able to offer the initial equipment placement for free.


And if you choose to do some of the work – loading cash and first line maintenance, like changing receipt paper rolls and clearing the occasional paper jam, you’ll earn more income.

 

Branding the Machine is an Almost Sneaky Way to Pull in More Money

Making an ATM look pretty might seem like a waste of money. After all, it’s just a cash box, right?


Nope, studies show wrapping an ATM with recognizable graphics and brands improves consumer trust – and can boost transaction volumes 20-40%. And more transactions mean more potential surcharge revenue.


But boosting transactions is not the only way to make money from the ATM. Advertising the store’s products, brands, and services on the machine or offer receipt coupons can help increase in-store sales. Or, for more direct incremental revenue, retailers can partner with their ATM provider to partner with a local financial institution to brand the machine with their trusted bank or credit union name.


ATMs can be lucrative for retail businesses. Despite expert opinions, consumers young and old flock to these machines as a convenient way to get cash. And, with such heavy usage numbers, in-store ATMs are almost a must-have.


But whether you want to own and operate your own or partner with a reliable provider to manage your ATM program, BFC Enterprises has a solution to provide the services your location needs to make the most profit.


Find out if your business qualifies for a free, turn-key ATM.

Contact BFC Enterprises today!


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