ATM Machines

[ajk8914]

Anyone own any or have any experience regarding owning/leasing them?

[JLB]

Just curious, are you a member on niketalk.com?

[ajk8914]

nah , never heard of the site

[James D]

I read an interesting story of a man who made great wealth with them, but that’s been a long time ago.

He got out of jail and had some kind of lawsuit that he won and used the money to purchase three ATM machines and placed them in places in Hawaii or someplace like that. He then used the rest of the money to fill up the machines and over time he simply just purchased more machines and finally had like 40 of them and made a killing.

[SmoothEntrepreneur]

No...but probably involves a similar business model to vending machines, which there is plenty of information on.

[Will]

I highly doubt you can own an ATM. They are run mostly by the banks, they are not about to lease out machines to just anyone. Vending machines are very different, with an ATM there are huge security issues etc, it is not a viable startup business option as no banks are just going to link to a startup company's ATM.

[SmoothEntrepreneur]

I've seen some sketchy ATMs that are clearly not associated with any (big name) banks. Not saying your ATMs will be sketchy, but I think it is definitely possible to own ATM machines in some form. But Will does make a good point and it is definitely something to look into further. Don't jump into anything without knowing the market and the logistics like the back of your hand.

[James D]

Yes you can own your own ATM machine; the banks make their fees of each transaction, while the ATM machine makes money as well per transactions. The hard part is finding safe location for such machines where you can place them and where they make good money.

All an ATM machine is a card terminal that dispenses cash. Banks cannot refuse your ATM service just like they cannot refuse a legal business access to card holders funds because they don’t like them. How many ATM cards work in other bank machines? Presto!