An ATM Business Can Save Your Marriage (It’s Not as Crazy as It Sounds)

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The title statement may sound outlandish. But, consider these stats about gray divorce (divorce among couples over 50):

  1. Gray divorce has doubled since 1990.
  2. Gray divorce has increased by 700% since 1960.

Those are startling numbers. And, it probably seems unlikely that an ATM business is the solution. But, if you look at why the gray divorce rate has skyrocketed, it becomes clear how an ATM business can help.

Here’s a quick story to illustrate the most common cause of gray divorce:

A young couple meets, dates, and gets married early in life—shortly after college. For the next few decades, they spend most of their time building careers, raising children, and preparing for retirement. There’s a lot to do, and they’re both happy to be doing it together.

Then it comes time to retire. Suddenly, the shared goals are gone. And the man has dedicated the majority of his life working. He spent very little time building relationships or hobbies. Or maybe both of the people in this couple spent very little time pursuing things other than work.

The struggle is that retired people often find themselves with nothing to do. And, this can severely strain marriages. When all the work is done, it’s easy to feel that there’s no need for a team anymore.

But there’s more: having nothing to do is no fun. Retirement is supposed to be enjoyable—at least as enjoyable as a fulfilling career, if not more enjoyable. So, it’s easy to feel unhappy in retirement.

That’s what’s caused this spike in gray divorce: a lack of shared goals and things to do in retirement.

An ATM business solves that problem.

How an ATM business can save your marriage from gray divorce

Being an ATM owner is not a way to get rich quick. When you start an ATM business, you’re playing the long game. And, this long game affords people opportunities to build relationships and develop a routine that can sustain them throughout retirement.

Older Couple having CoffeeBuilding relationships

One of the most important aspects of owning an ATM business is building a successful route. An ATM route is just the common path you take to refill your ATM machines with cash and ensure they’re in good shape.

The benefit of this ATM route for older people is that it provides a place where you show up regularly and get to know people. Socially, it’s like a bar (but far more productive and profitable).

Additionally, each ATM machine will be located in or near a business, and maybe even a bar if that’s something you’d enjoy. And, you have to develop a relationship with that business owner, because your ATM is on their property. And, these business owners may want to be involved, to some small degree, in the operation of that ATM machine (coupons, promotions, lowered credit card fees for them, etc.).

Developing quality relationships with these landlords, business owners, and property owners is key if you want to have an ATM business that’s all about service. And, your ATM business should be all about service. That will make your business successful and will ensure you keep your customers happy so they’ll stay with you for a long, long, time.

But, more than being an important part of your ATM business, these relationships give you people to do things with once you’ve retired. Your ATM business creates a circle of friends that will last a lifetime.

Productive routines

An ATM business also solves the problem of idle time in retirement.

Once you’ve set up your ATM route, you’ll obviously need to run that route regularly to keep your ATM machines up and running. This creates a routine that helps retain a sense of purpose and offers shared goals for you and your partner.

But, the best thing about the routine of an ATM business is that your routine can be as busy or as minimal as you’d like. If you want, you could work nearly full time in your ATM business. Or, it can be as part-time as you like.

And, you’re not just keeping busy. Your ATM business gives you productive work. It’s even better than a hobby, in many ways.

Reaching retirementOlder Retired Couple Enjoying Retirement Early via the ATM Business

Although this focuses most on how an ATM business can protect you from a gray divorce, an ATM business can also help you stay married until retirement.

As we mentioned earlier, an ATM business is not a get rich quick scheme. It’s a long game.

But, running an ATM business can provide reliable income that doesn’t require you to grind it out day after day. And, it’s income that you can earn in addition to your professional income. So, an ATM business can certainly make it easier to retire when you want to.

And, the additional income of an ATM business gives you time to develop relationships outside of work and build a marriage that’s ready for the realities of retirement. It’s also a business that gets you out of the house which is a big plus for decreasing the chance of a grey divorce. Plus, you get to enjoy any neighborhood you wish to pursue, make connections, and have fun at the same time. 

So, your ATM business isn’t just a marriage failsafe for retirement. It’s also something that can sustain your marriage and life until you reach retirement.

And, what about those who are retired or near retirement right now? You can start an ATM business at any time. Yes, the ATM business is a long game. But, it’s a long game that you can start right now, regardless of where you are in your life. Besides, you can start and ATM business with less than $5,000 and the returns on that money will be much better than the bank and much safer than the stock market. You’re investing in yourself and in your retirement. 

If you’re ready to start now, learn more about starting an ATM business.

 

ATM Business Basics Part II: How to Start Up and Operate an ATM Business

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Understanding how to start up and operate an ATM business might be one of the most overlooked parts of owning and operating ATM machines.

Yes, the ATM machines are important. But, most of the time investment actually goes into operating the business. After all, it only takes a few minutes to load cash into an ATM.

There are plenty of resources that explain how ATM owners make money. So, we’re going to focus on the process of starting and running your ATM business.

How to start up and operate an ATM business

Contrary to how it might seem, buying an ATM machine is not the first step. First, you need a place to put it (that isn’t your garage). These are the steps you need to follow:

  1. Identify potential ATM locations. There are plenty of options—gas stations, convenience stores, bars, and so on.
  2. Talk to the business owners and negotiate an agreement to provide an ATM for the business. You will need a contract for this agreement.
  3. Buy the ATM machine.
  4. Install the ATM machine, and secure it properly.
  5. Fill the ATM with cash.
  6. Tell people about your ATM.

Three of these steps actually have very little to do with the ATM machine itself. These three steps are major cornerstones of any business. And, these are the steps that most new business owners struggle with.

So, we’re going to break them down.

Identify ATM locationsGreat ATM Locations

In other businesses, this would be called “lead generation.” And, in many businesses, it’s a tricky process that some people never quite master.

But, in the ATM business, identifying leads can be as simple as visiting nearby businesses, choosing good candidates for an ATM placement, and asking if they have an ATM machine.

If the location already has an ATM machine, that doesn’t mean that you can’t place an ATM there. But, it’s an additional hurdle, since you’ll have to replace the current ATM provider. The business owner may or may not be willing to do that.

Either way, you can generate leads simply by visiting businesses and tracking which ones have ATMs and which ones don’t. Keep notes on locations, and remember locations that may be worth the extra effort to replace an existing ATM.

This list of businesses is essentially your leads database.

Negotiate with business owners

In traditional business terms, this would be the “sales” stage. This is where you actually sell your ATM services to the business owner. And, this can be the most challenging and time-consuming part of the process.

First, you have to convince the business owner to talk to you at all. Business owners are busy. And, people generally don’t like being sold to.

But, even though this is a sales process, it doesn’t have to be salesy.

Approach this as a relationship-building process. It’s important that people trust you and are willing to work with you. Focus on understanding what the business owner needs and helping them solve their problems. The agreement is beneficial to both you and the business owner. Be willing to make the arrangement lucrative for the business owner, and help them understand how it benefits them.

If you struggle with negotiation and sales, it’s wise to develop a script for starting the conversation. It’s impossible to predict how any interaction will play out. But, it’s easier to start the conversation if you at least know what you’re going to say first.

Using a script or some sort of plan also enables you to optimize your negotiation and sales process. If you’ve tried something several times, and it’s not working, try something else. Once you find the thing that works, put it in your plan and stick with it.

You’ll also need a contract for this step. A verbal agreement won’t cut it.

You can get a lawyer to draw up a contract for you. However, this will usually cost about a thousand dollars.

Or, you can use a contract template, which is much more affordable. We offer contract templates as part of our membership at ATMDepot.

You can probably find other templates on the internet. But, if you download a free contract template, make sure that it has all the necessary recitals and protections you need. Your contract is the only thing that protects you in a dispute.

ATM at a Gas Station via StockPromoting your ATM

This last step is otherwise known as “marketing.” You’re going to get some organic transactions simply by having the ATM placed.

But, more transactions are better. And, the more people that know about your ATM, the more transactions you’ll get.

You’ve probably seen the “ATM” signs in the windows at gas stations and convenience stores. Adding one of these signs will raise awareness about your ATM.

But, if there are nearby businesses that don’t have ATM machines, go tell them about the new ATM. That way, when people ask if they have an ATM, these other businesses can direct people to your ATM machine.

As a bonus, it’s a good reason to have a conversation with more business owners who don’t have an ATM of their own. It could lead to installing a new ATM.

The business cycle

These three steps will essentially be your ATM business. Yes, there will be accounting and service calls. But, the vast majority of growing your business will be going through these three steps over and over. If you master these steps, your business will boom.

Get leads.

Negotiate an agreement.

Support and promote your ATM.

The rest is just the manual labor of installing the ATM machines and filling them with cash.

It might seem daunting. But, the first step is the easiest: just go out and visit businesses and find out which ones have no ATM. It’s simple, and you’ll start building your book of leads.

After that, you just need to follow up with your leads. Then, go through the core business steps to start up and operate an ATM business.

Need more help mastering these core business cycle steps? Get contract templates, sales scripts, and tons of other resources for starting and scaling your ATM business from ATMDepot.

1 Passive Income Idea That Will Get You Out of the Rat Race for Good

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Let’s start by setting the record straight on passive income: no form of income is truly 100% passive. Any income stream requires that you invest some time, effort, and energy.

Even income earned from interest on money sitting in the bank requires you to check the balance occasionally.

What we really mean when we say “passive income” is “low effort income.”

Fortunately, there are many low effort income generators. But, some are better than others. And, there’s one that beats the rest in the most important areas:

  • Initial investment (time and money).
  • Time to start generating income.
  • Maintenance requirements.

As you may have guessed, the best passive income idea is the ATM business. Here’s why an ATM business beats other passive income investments in the short term and the long run.

Low Upfront Investment

We have to be honest here: the most popular passive income ideas work. Investing, real estate, building a successful blog, and other methods will indeed generate passive income in the long run.

Grow Your Money with Passive Income

However, these passive income methods require a large investment before you get any money back.

In his book, The Intelligent Investor, Benjamin Graham talks about generating income from stocks and bonds. He gives good advice.

But, by Graham’s figures, one can expect between 4% and 7% return on their stock market investments. So, you’re not really generating meaningful cash flow until you’ve got tens of thousands invested. And, the required investment is closer to 100,000 if you happen to get 4% returns.

Real estate is another common passive income investment. But, it doesn’t take much searching to discover that buying a house might cost far more than 100,000.

There are ways to purchase real estate properties with no money down. But, you’re still spending money. The investment comes in the form of thousands, maybe hundreds of thousands of dollars in debt liability. And, you’ll most likely need to spend some time working on the property you purchase before it will be profitable.

Then there’s blogging, or becoming an online influencer or creator. The monetary investment here can be very small. But, the time investment is huge. It can take years to build a blog or YouTube channel that gets enough traffic to turn a profit.

An ATM machine, on the other hand, costs a few thousand to set up. That includes the cash to fill the machine. And, that’s the average cost of buying and placing an ATM. There are ways to get started for less, such as buying a refurbished or used ATM machine.

So, yes, there is an upfront cost to starting an ATM business. However, it’s a fraction of the cost of most other passive income methods, both in time and money.

Time to Return

In his financial classic, Rich Dad Poor Dad, Robert Kiyosaki says the most important question to ask before you make an investment purchase is, “How long will it take to get my money back?”

He means that you need to consider how long it will take to recoup the initial cost of the investment. Any money you make after you’ve recovered your initial investment is profit. So, the faster you recoup your initial investment costs, the faster you start truly making money.

In that same book, Kiyosaki gives an example of a real estate investor who purchases a rental property. The property generates $125 a month in cash flow, which the investor reinvests into the property (so that money does not go into his bank account). Several years later, the property sells for more than he paid, and he makes a solid profit.

Making Money from Your Bank

All well and good. The key phrase here is, “several years later.” Yes, he made good money on the deal. But, it took years of renting. That’s a long time to recover your investment and start making money.

Stock market investing suffers from a similar issue. There are case studies that show how you could have invested $5 in the stock market in 1929, then by 1954 that $5 would have turned into several thousand or more.

There are other examples that start at different dates. But, all these case studies have the same thing in common: the timeline is very long. It always takes decades for that money to grow. The reality of investing is that you either need a lot of time or a lot of money to generate real profits.

Then, other passive income models like blogging have an undefined timeline. Some people get lucky. Their content becomes famous overnight, and they’re off. But, the majority of people who go this route spend years creating content before they ever see a dime.

Now, here’s a brief explanation of how an ATM makes money for you:

You buy the ATM machine, place it in a retail store, restaurant, coffee shop, gas station, or anywhere else where people may need to get cash.

You charge the customer $2.50 to get money from your ATM. That $2.50 is your revenue. Some of it will usually go to the business owner for allowing you to place an ATM in their business space. And, a little bit gets used to pay operating expenses.

But, even after all that, you’re still making a couple bucks per transaction. Even a slow location will get 3 or 4 transactions a day.

Regardless of the transaction volume, the ATM machine starts recovering your initial investment immediately. And, in a decent location, you could recover the cost of the ATM machine in a matter of months.

The bottom line is that the time to return on investing in ATM machines is far lower than any other passive income investment we know of. Which means you’ll start generating profit much faster.

Risk

Of course, we can’t talk about real estate and stock market investing without talking about risk. Even blogging and content creation carries some risk. Though, you can overcome the risk by making smart adjustments and putting in persistent work.

But, the risks in real estate and stock market investing are very real. And, if you’re not careful, they can be financially devastating, at least temporarily. The only thing we know for sure about stock and real estate markets is that they reliably go up and down.

At some point, your investments are going to lose value. And, it may come at a time when you’re not in a good position to absorb that loss. Any experienced investor will tell you that’s just the way it goes.

However, cash never goes out of style. And, ATM machines offer convenience. The demand for that convenience is actually going up as more and more banks move to providing digital services.

But, that’s only part of the point here. The main point is that an ATM machine will reliably get transactions. If you put an ATM where people can see it and use it, somebody will use it.

Everyone Loves Cash

 

Unlike other passive income investments, it’s not a question of if you make money, it’s when. And, you can control that by placing your ATM machines in good locations.

It’s one of the few low risks, high potential reward investments in the world.

Effort

For some people, this is the most important thing. How much work does it take to maintain your passive income?

As we mentioned earlier, there’s no such thing as 100% passive income. You have to put in some effort. It’s just a matter of how much effort is required.

Some “passive income ideas” are actually not passive at all. How passive is running a blog and selling ad space on your blog? It’s not. Running a successful blog is nearly a full-time job.

Investing can be super low effort. But, the less effort you put in, the less money you make. It takes a lot of education, time, effort, and energy to be a successful aggressive investor. Look at Warren Buffet. His job title is “investor” because that’s what he spends most of his time doing.

Real estate is the same way. It takes a lot of time, effort, and energy to consistently find good real estate investments and close the deals.

All this isn’t to say that operating ATM machines takes no effort. It does. Here’s what you have to do:

  1. Monitor the cash level in your ATM.
  2. Go to your ATM machine.
  3. Open it with your key.
  4. Add a fat stack of $20 bills to the cassette.
  5. Close it.
  6. Make sure it’s locked.
  7. Withdraw $20 to make sure it’s working correctly.

Making Passive Income

That’s it. Have you ever seen someone restock a vending machine? It’s less complex than that.

This takes a few minutes. And, depending on how much cash you keep in the machine, you may only have to do this once a week. You can easily keep your full-time job and operate ATM machines.

Sure, you’ll have to do it more often if you have multiple ATM machines. But, multiple ATM machines also means more ATM income. Your passive income scales directly with the required effort. So, you may not need to keep your full-time job if you’re filling a lot of ATM machines.

 

The passive income machine

That’s it. The one passive income idea that will get you off the hamster wheel. It’s not hard. And, the barrier to entry is so low that almost anyone can afford it (both in terms of time and money).

Since we’ve mentioned him already, Robert Kiyosaki says that the difference between a rich person and a poor person is how they spend their money.

A rich person buys things that will make him more money. A poor person buys things that end up costing him money.

An ATM machine is probably the most affordable thing you can buy that will actually make you money.

So, you can spend your next few thousand dollars reaching the next rung on the hamster wheel. Or, you can spend those dollars like a rich person, and buy something that will make you money, and break that hamster wheel.

The Ultimate Side Hustle Idea

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There are tons of side hustle ideas out there. However, most of them require you to consistently invest time, which is basically just getting a side hustle job. Or, you need to invest a lot of time, effort, energy—and maybe money—up front, which will pay off… Someday.

But, there’s a side hustle that gives you an almost immediate return on a relatively small investment. If you’re thinking, “buying ATM machines,” you’re right.

An ATM machine will almost immediately generate income. And, you can get great deals on used and refurbished ATM machines. So, the barrier to entry in the ATM business is low, and the ceiling is virtually non-existent. You can own as many ATMs as you want.

But, the best part is that it takes very little time to maintain and operate your ATM machines once they’re installed. This means operating ATM machines is a true side hustle that will have very little impact on your full-time job or free time. And, your ATM business could easily replace your full-time income.

Here’s what makes owning ATMs such a great side hustle to make money without giving up your evenings and weekends.

Generate Passive Income

ATM Business Passive Income Family Time

Most side hustle jobs are just that, jobs. They require a lot of time. They might pay an hourly wage. It’s a good way to make some extra money. But, it’s also a good way to end up working even when you’re not at work.

On the other hand, an ATM machine only has two major time investments:

  1. The time it takes to install your ATM.
  2. The time it takes to fill your ATM with cash.

Other than that, your ATM machine sits and makes you money without your help. The time investment in operating an ATM is low enough that you can easily run multiple AT machines without hiring anyone (or giving up your social life).

With enough ATM machines—and not even that many—you could easily add a second full-time income stream without quitting your full-time job.

Learn New Skills

If you’re considering a side hustle, acquiring new skills can often be beneficial, particularly if you’re aiming to diversify your income streams or transition into a new career.

Owning ATMs does introduce you to new skills, albeit straightforward ones. Certainly, you’ll need to understand the basics of setting up and installing an ATM. While this might sound daunting, it’s pretty straightforward once you’ve learned the ins and outs.

There is a training system designed to efficiently guide you through this process, ensuring you can learn these skills quickly and effectively — it’s the ATM Business Road Map training system. We like to call it an ATMDepot Academy.

In contrast to many other skills that can take months or years to master and additional time to gain the necessary experience for a substantial income, learning how to operate ATMs is much more time-efficient.

This efficiency means you can start generating income sooner, making it an attractive option for those looking to establish a new income stream quickly.

Incredibly Simple Business Operation

There’s real estate, affiliate marketing, funnel building, and other businesses that are marketed as amazing side hustles or primary income streams.

However, all of these are deeply involved businesses.

You Can Start an ATM Business Today!

You have to find houses to flip, and fix them up to make them saleable. Or you have to build an audience to get enough traffic for your affiliate offers. And, you can’t make money with a funnel if you don’t have a product to sell.

The reality is that these side hustles aren’t really side hustles at all. They’re full-time jobs.

In contrast, all you have to do in the ATM business is buy an ATM, find a location, and install it. The ATM company handles the backend business operation. All the payments, reporting, processing, and other business operations are off your plate.

All you have to do is make sure your ATM has cash in it, and watch the transaction fees roll in.

Low Upfront Investment

Let’s talk about the cost of an ATM.

An ATM machine costs a rough average of $2,548. Keep in mind, that’s the average price. You can get ATMs for much less. We’re using the average for the sake of comparison.

You’ll also need around $2000 in cash to stock your ATM with $20 bills. The total to setup an ATM and start making transactions is about $4,548.

$4,548 might sound like a hefty investment. But, the cost of the ATM is a one-time expense. You can use the same $2000 for restocking your ATM. It’s cash you need on hand, not a direct expense.

$4,548 is actually quite modest when you compare it to the upfront costs of other side hustles:

It’s much less than the cost of buying a house to flip (and far less risky).

More affordable than all the months of paying rent and living expenses without your side hustle income while you learn something like coding or build your affiliate marketing audience.

Lower long-term cost than the overhead expenses of subscription services like ClickFunnels, which eat into your profits, and actually add up over time to far more than the cost of an ATM.

The only reason the initial cost of an ATM seems high is because you may have to pay it in a lump sum. But, it’s a much more affordable investment than many other side hustle businesses. It comes with no persistent overhead costs. And, buying an ATM costs you almost no time.

No-Risk Income

Last, but not least, is the risk. All side hustles involve some risk. Even if you’re just going to a side hustle school to learn a new skill, there’s a risk that you won’t be able to find work using that skill. Think of all the college graduates who never use their degree. The same rules apply to learning side hustle skills.

Investment side hustles like real estate and investing carry even more risk because there’s no way to guarantee a return on your money. Stocks tank. Houses sit on the market for months or years.

But, an ATM machine reliably generates income (unless you hide it in a dark alley, behind a dumpster or something like that).

It’s true that some locations get more traffic and more transactions than others. But, if you put an ATM where people can see it, they’ll use it. And, you get 100% of the transaction fees.

Cash still accounts for 30% of all transactions, and 55% of transactions under $10. And, $10 transactions are exactly what you want, since most people will get a $20 out of an ATM for a $10 purchase, which means you get more transaction fees without having to refill your ATM as often.

The No Hustle Side HustleEarning Money from Passive Income ATM Business

Side hustles are a great way to earn some extra income. But, most side hustles just turn your spare time into extra cash.

With an ATM machine, you dependably turn cash into more cash. Just get an ATM. Install it. And start generating income. You could do it over a weekend.

No, you won’t get rich quick. But no side hustle is intended to make you rich fast. It’s about creating reliable long-term income. And that’s exactly what owning an ATM does for you.

Key Takeaway

So, if you are dreaming of shaking off the 9-to-5 routine and diving into a side hustle that’s both rewarding and manageable, the ATM business might just be the perfect fit for you! 

It’s a fantastic way to build a steady, semi-passive income while being your own boss, and it’s especially suited for those who are in it for the long haul, not just a quick cash grab.

Noah Wieder, CEO of ATMDepot.com, has put together an amazing ATM Business training system. With over 30 years of experience in the field, he’s the go-to guy for learning all the ins and outs of the ATM world. His training program is super helpful, guiding you through the basics and beyond, and making sure you avoid the typical newbie mistakes.

What’s really great about Noah’s approach is that he keeps it real. You know those online “gurus” who promise you the moon with minimal effort? Well, Noah’s not about that life. He’s here to give you the straight scoop, no fluff or unrealistic expectations.

So, if you’re seriously considering a side hustle that’s not just about making quick money but building a solid, long-term income, the ATM business could be your golden ticket. It’s not a get-rich-quick scheme, but with the right training, just like the ATM Business Road Map, and a bit of dedication, you can definitely pave your way to financial freedom.

ATM Outsourcing: More Opportunities for ATM Owners

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The Rise in ATM Outsourcing

ATM outsourcing is nothing new. Financial institutions have been outsourcing ATM services since the 90s. However, the demand for ATM managed services could spike as banks perfect their online banking services and regulations require more ATM updates.

ATMOutsourcing - Drive Up ATMsTraditionally, banks only outsourced off-site ATM machines that were difficult to keep stocked with cash and maintained. However, ATM outsourcing became such an attractive offer for banks that some banks outsourced their wall ATMs at drive-up and walk-up locations.

Now, ATM outsourcing is even more attractive in the wake of the EMV update, with another hardware update on the way with the Windows 10 transition. The update costs are significant. And banks are working to consolidate their physical branches, without limiting customer access to banking services.

Additionally, ATM machines aren’t a major source of revenue for most banks. They usually offer free transactions to their customers. So, most of the transactions generate no revenue.

Banks will likely have to eat the cost of the free ATM transactions for their banking customers. But, offloading ATM update costs, maintenance, and ATM vaulting to an ATM managed services provider could easily offset the lost transaction revenue.

And finally, banks don’t want to abandon their ATM services completely. ATM machines shorten bank teller lines and minimize stress on their customer service staff by enabling customers to self-serve for simple transactions.

So, handing the entire ATM operation over to ATM managed service providers is a cost-efficient move for most banks.

This is good news for ATM owners since it means more opportunities to provide white-label ATM solutions in very good locations. However, there are a few things you’ll need to make your services attractive to banks.

ATM Deposits

Most bank branch ATMs accept deposits. Now, the bank may be okay with losing the ability to accept deposits through the ATM machine when they outsource the service. But, that depends on the location and what percentage of the total transactions are deposits.

This means that you’ll be in the best position to scoop up an ATM managed services contract if you have ATM machines capable of accepting deposits and an ATM processor that can communicate with the bank’s system well enough for more than just cash withdrawals.

Banks have historically accepted outsourced ATMs that didn’t accept deposits. However, it’s likely that banks will prefer deposit capable ATM machines in the future as they look for cost-efficient replacements for full-service bank branches. So, accepting deposits will help future-proof your outsourced ATM operations.

Wall-Mount ATM Machines

ATMOutsourcing - Wall ATMs

Standing ATMs are appropriate for some off-site bank ATMs. However, it’s likely that banks will prefer bundled services for their ATM machines. Meaning, they’ll want their ATM managed services provider to supply their branch ATMs in addition to the off-site ATM machines.

Be prepared to offer a wall-mount ATM as part of your package when you’re pitching your services. Branch ATMs are likely to get a lot of traffic, and the bank will be paying the transaction fees. So, supplying a wall-mount ATM machine can be a big win for you.

Updated ATM Machines

You’re probably in the process of updating your hardware to accommodate Windows 10, if you’re already in the ATM business. But, if you want to take advantage of ATM outsourcing opportunities, you may want to speed up the process.

Avoiding update costs is a major reason that banks want to outsource their ATM services. So, it’s pretty much mandatory that you can offer ATM machines that will be compliant past 2020.

Fortunately, most new ATMs will be capable of handling Windows 10. But, future compliance is an important thing to check if you’re purchasing used or refurbished ATM machines.

Either way, the deadline for upgrading ATM machines to Windows 10 will be here sooner than you think. If you want to ride the ATM outsourcing wave, you should concentrate on getting your fleet compliant while banks are still looking for ATM managed service providers to take care of the update for them.

ATMOutsourcing - Signing SLAService Level Agreements

ATM owners are familiar with these. But, service level agreements are vital when working with banks.

First, the terms of your service level agreement can be a selling point for your ATM services. It removes the risks of ATM outsourcing for the bank and makes your offer more appealing.

But, you’ll most likely need to include things in your service level agreement that meet a bank’s requirements for any ATM, such as armored truck service for ATM vaulting.

Most banks also won’t accept an ATM managed services contract that doesn’t have a service level agreement.

So, if you haven’t developed one yet, you should create a template for your service level agreement. That way you won’t miss anything during your negotiations.

Other Businesses That Need ATMs

While banks may be a major source of ATM outsourcing business, they’re not the only ones who may need ATM machines from an ATM managed services provider.

Many banks have micro branches inside grocery stores, malls, and shopping centers. As banks consolidate their physical locations and move more services to online banking, many of these micro branches will close.

This leaves these locations without an ATM. And, that means opportunities for ATM owners to capture more high traffic locations with dedicated user bases.

So, even though the required ATM updates may present additional expenses for ATM machine owners, they also offer new ATM outsourcing opportunities. And, that’s new business that could more than cover the cost of ATM updates in the long run.