Category: FAQ

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When it comes to owning or renting an ATM, it’s easy for people to get caught up in how much money they can make and forget about having to take care of the machine. Every now and then, ATM parts will have to be fixed or replaced. If you own an ATM, or you’re considering renting or owning one, here are the parts and supplies you may need to fix or replace from time to time.

Receipt Tape

Other than the cash inside the machine, receipt tape will be the most common part of ATM that you need to replace. The good news is that this isn’t all that hard to do, nor is the tape particularly expensive. If you hire a technician to do regular maintenance, changing the receipt tape will likely be part of the routine. Otherwise, you’ll have to keep an eye on it and take care of it yourself.

Rollers

ATMs have rollers that help to receive and dispense user’s ATM cards, as well as dispense cash from the machine. If they start to wear down, they’ll need to be replaced, so checking on them during regular maintenance is important. It also wouldn’t hurt to clean these rollers every once in awhile so they work properly without causing your customers any problems.

Screen

Odds are, you won’t have to replace your ATM’s screen too often. However, with most ATMs having touch screens, it would be wise to learn it regularly. Take a second to think about the volume of people using your ATM and you’ll realize how important it is to clean the screen. Also, during routine maintenance, you should have the technician calibrate the screen so that everything lines up accordingly, preventing users from unknowingly choosing the wrong option when they touch the screen.

Card Reader

The card reader slot is one part of the ATM that has to remain in working order. Without it, the machine wouldn’t be able to recognize any of the numbers on a user’s ATM card, rendering the entire machine useless. If you own an ATM, it wouldn’t hurt to have a backup card reader on hand in case you need to install a new one right away. Without a functioning card reader, your ATM can’t process anything, so you can’t afford to be without one for long.

Cash Dispenser

Behind the card reader, the cash dispenser may be the second most important part of an ATM. If there’s a problem with it, people may receive too little or too much money from the machine; either way, that’s a big problem. You may want spare parts, including the rollers mentioned above, that make up the cash dispenser available in case something needs to be replaced.

In need of new receipt tape or a new card reader? Contact National ATM Wholesale today.

Explore More ATM FAQs

Explore More ATM FAQs

Having an ATM can be a great way to give your business an extra source of revenue. Unfortunately, ATMs are sometimes a target for criminals who try to break into the machine or damage it in some way. These occurrences are rare, and most of today’s ATMs are designed to resist criminal efforts to break-in, but it’s still important for ATM owners to know what to do if their machine is burglarized or damaged in any way.

In many ways, your ATM being burglarized or damaged should be treated the same way as if you were to get into a car accident. The first thing you should do is call the police. However, it’s important that you notify the authorities and fill out a police report.

While you wait for the police to arrive, begin taking pictures of any visible damages to the ATM for insurance and police purposes. The police may take their own pictures, but you should also document the damage done to your ATM with photos of your own. If you have a security camera near your ATM, this would also be a good time to check the footage so you can show the police.

The next step is contacting your insurance company. Typically, insurance is not included with ATM placement services, nor is insurance specific to your ATM necessary, even if you own the machine outright. However, you should update your current insurance plan to include your ATM. This way, the machine will be covered under your business’ insurance in the event of damage. Of course, it’ll be wise to take pictures of the damage and file a police report before trying to file a claim with your insurance company.

It’s important to remember that criminals are rarely successful at breaking into ATMs and stealing the cash inside. But if you own an ATM, you still need to be prepared just in case the machine is burglarized or damaged. Just remember to make sure the ATM is covered by insurance and treat any attempted break-in the same you would a car accident.

Explore More ATM FAQs

Explore More ATM FAQs

Having an ATM at your place of business can provide a nice service for your customers, help increase your business, and give you another source of revenue. Of course, for business owners who already have a lot on their plate, an ATM is just one more responsibility. That’s why it’s great to find an ATM provider that offers turnkey ATM service. But what exactly do you get from a full-service turnkey ATM solution?

Installation

This is always the first step in owning or renting an ATM and an obvious part of any turnkey solution. It’s vital that an ATM be installed properly, and so any turnkey service will have a trained technician do that for its clients.

Regular maintenance

Most people don’t have the time to keep up with the regular maintenance that ATMs need. A company offering turnkey ATM solutions will have technicians that take care of yearly tune-ups and replacing items like receipt tape. Doing this provides peace of mind for the ATM merchant, knowing that someone else is taking care of everything that needs to be done to prevent their ATM from breaking down.

Cash management

This is arguably the biggest hassle of owning an ATM, especially if you have one that’s particularly busy. Without a full-service turnkey operation, businesses with ATMs will have to put their own cash in the machine and refill it on a regular basis or hire a third-party to handle everything. Refilling ATMs not only requires thousands of dollars in cash, but it can also be time-consuming and require a specific set of security precautions. With a turnkey solutions provider, all of this becomes a non-issue for ATM owners.

Performance tracking

With a busy ATM, it’s important to keep track of how often the machine is being used and how much you’re making from it. This requires regular progress reports that include up-to-the-minute data, which can be asking too much for a business owner who already has a lot on his plate. Turnkey ATM services will keep track of all necessary data, including the amount of cash in the machine so that it can be refilled when necessary.

Responsive customer support

This may be the most important aspect of turnkey ATM solutions. If an ATM breaks down, people can’t use it and a business can’t make any money from it, making it imperative to fix the problem as soon as possible. With responsive customer support, ATM owners will receive the help they need to troubleshoot any problem that occurs, and if necessary, have a technician come and fix the problem as soon as possible.

Contact National ATM Wholesale to learn more about full-service turnkey ATM services.

Explore More ATM FAQs

Explore More ATM FAQs

Adding an ATM to your business or special event can prove quite useful on a number of fronts. It’s helpful to your customers and can even lead to an increase in the amount of business you conduct. Of course, not all business owners want to purchase an ATM right off the bat. The alternatives to buying an ATM include renting an ATM or having an ATM placed at their location. While similar, ATM rental and ATM placement are not the same. Let’s take a closer look at each.

ATM Placement

ATM placement is essentially an agreement between a business owner and a company that owns or provides ATMs. The ATM provider will take care of every detail, such as installing the machine, taking care of any required maintenance, and refilling the machine with cash when it runs low. The company typically does all this free of charge with the hopes of turning a profit off of convenience charges from people using the machine.

The business owner only needs to find a place for the ATM and provide both an electrical outlet and either a phone line or Internet connection so the machine can connect to bank servers. Once installed, the ATM should immediately benefit the business. The ATM provider may also give the business a percentage of the revenue generated from the convenience fee charged each person who used the ATM.

ATM Rental

If a business wants to rent an ATM, they will pay the ATM provider a monthly fee to keep an ATM in their store. The monthly fee can vary based on the company and the machine, although it’s usually far less than paying thousands of dollars up front to purchase an ATM. The business may also be responsible for other costs associated with the ATM, including the cost of refilling the machine. Depending on the rental agreement, the business may also have to pay an installation charge and be on the hook for any repairs the ATM may need.

Of course, by renting the ATM, the business will be able to keep all of the revenue generated by convenience fees. They will also have more freedom to choose how much to charge people to use the ATM. Once the business owner makes enough money from the ATM convenience fees to cover the cost of renting the machine and any other costs accrued that month, everything else is pure profit.

Contact National ATM Wholesale to learn more about our ATM placement services.

Explore More ATM FAQs

Explore More ATM FAQs

If you own an ATM machine, you obviously want people to use it. For starters, you want to make money from convenience fees. You also don’t want it to just sit there, collecting dust, and becoming an eyesore. If your ATM is not getting as much use as you think it should, there’s probably a good reason why. Here are a few reasons why your ATM may not be attracting customers and how you can rectify the problem.

Is your ATM in the right place?

When it comes to ATM use, location is everything. Usually, you’ll need to pick out a location for an ATM before you install it. But if you think a different location can help attract more customers, that’s an option that may be worth exploring. Many businesses have had success with placing ATMs near large displays or areas where they are promoting key products, as those places will get more foot traffic, increasing the chances of customers using the ATM.

What does your ATM look like to customers?

It’s often important to make your ATM look aesthetically appealing on the outside. This may involve buying a newer machine and keeping it clean. If an ATM looks old and banged up, customers may be hesitant to use it. It’s a small detail, but one that can’t be overlooked if you’re having trouble attracting customers to your ATM.

Can customers find your ATM?

This one seems obvious, but again, it’s a detail that can’t be overlooked. Too many times, an ATM is tucked into a corner, where it blends in with its surroundings. You have to make sure your ATM is at least a little out in the open, so it’s easy for people to find. Most customers won’t try too hard to find an ATM in a particular business. If the location of your ATM isn’t obvious to everyone who walks into your store, consider posting signs directing people to your ATM.

Do customers know you have an ATM?

If customers don’t know you have an ATM, they won’t be able to use it. For businesses like convenience stores, customers will expect you to have an ATM. For other types of businesses, it may help to place the ATM near the entrance or have signs near the entrance directing customers to your store’s ATM.

Is your service charge too high?

Deciding how much to charge to use your ATM is a fine line. On one hand, this is how your ATM helps to bring in money. But if your convenience fee is too high, customers may not want to pay it, even if they need cash. Remember, you want to make money from your ATM, but you also want to provide a helpful service for your customers without taking advantage of them, so make sure your ATM’s service charge is fair or it could dissuade people from using your ATM.

Contact National ATM Wholesale to learn more about optimizing your ATM business.

Explore More ATM FAQs

Explore More ATM FAQs

For years, ATMs relied on modems and dial-up phone lines in order to function. It was the only way they could connect to a bank through a host and allow customers to get cash and conduct banking transactions in a matter of minutes. However, in recent years, wireless Internet has made just about everything in our lives faster and easier, and ATMs are no exception.

It’s now possible for most ATMs to be connected to their host and banking network via WiFi, cutting out the need to have a landline for businesses that own an ATM for their customer’s convenience. As long as an ATM has an RJ45 Jack it can connect to an Internet Service Provider and conduct banking business that way.

The good news is that most ATMs built within the past several years have the equipment necessary to connect via WiFi. This takes away the need for retail locations, restaurants, hotels, and other businesses to have a landline just so their ATM can function. It also makes it possible to place an ATM in new and different locations where an ATM could not be placed previously because of the lack of a phone line.

Not only is using WiFi to connect an ATM more convenient, but it’s also faster for customers using the ATM. Technology has advanced to the point of WiFi in ATMs being exponentially faster than the old-fashioned dial-up. The latest ATMs have also received a boost in security so that hackers can’t infiltrate the sensitive data the ATM is transmitting, solving one of the most common problems users had when WiFi was first available with ATMs.

Perhaps most importantly, running ATM transactions on WiFi will help any business that owns an ATM to save money. Having a landline simply to run an ATM can be quite costly and detract from the revenue a business can generate with an ATM. Meanwhile, WiFi has become so standard that it’s an expected expense for most businesses. As long as you have a relatively new ATM, there’s a good chance it’ll function via WiFi instead of a landline, and in the process, save both time and money.

Contact National ATM Wholesale today to learn about our ATM programs and 19 different machine models.

Explore More ATM FAQs

Explore More ATM FAQs

One of the first questions most business owners ask when they consider buying an ATM to generate income is how the machine is filled with cash. Knowing this is obviously essential to owning an ATM. If you own an ATM, you do have the option of filling it with your own cash, but you could also choose to contract with a vault cash management service to supply the cash for your ATM. Let’s look at some of the differences.

Using Your Own Cash

Using your own money to fill your ATM can be beneficial, but it can also be complicated. For starters, you always need to make sure that the machine has enough money in it. This means tracking it closely so you can refill it before it runs out. It also means having thousands of dollars in cash on hand every time you refill it. Exactly how much money you put in the machine and how often you refill it depends on how much use it gets. However, even if your ATM only gets used a few times a day, you’ll need at least a couple thousand dollars every time the machine is refilled.

Security is another issue when it comes to filling an ATM with your own money. You’ll need to refill the machine at a time when no one else is around to ensure nothing goes wrong, which can be a hassle. There’s also some degree of risk with using your own money because if the machine is broken into or something goes wrong while you’re filling it, you could potentially lose thousands of dollars.

Cash Service

The alternative is hiring a vault cash management company to take care of everything. They will provide the money that goes into the ATM and can work with you to set up a schedule for refilling the machine.

The downside of this is that it will take away some of the profits you make from your ATM. However, the process is more secure, as the vault management company will likely have insurance on the money and have professionals handling the refilling. You also don’t have to worry about putting so much of your own money in the machine, freeing up capital for other projects.

So, to answer the original question: you don’t have to fill your ATM with your own money; there are other options. Using your own money will take up more time and add to the risk, but it will also lead to more profits. On the other hand, hiring a service will cost you more but may provide you with a little more peace-of-mind. The choice is yours.

Contact National ATM Wholesale today to learn more about our vault cash options.

Explore More ATM FAQs

Explore More ATM FAQs

If you’re a business owner, investing in an ATM can be a great way to add an extra source of income. When you own an ATM, you can make money for each transaction every time your ATM is used. But before you invest in owning your ATM, it’s goodto know what happens during every transaction and how you make money through your ATM.

The first step in the process, at least after you buy the ATM, find a location for it, and have it installed, is choosing a surcharge amount. Most ATMs come with a surcharge between $2 and $3, although this can vary based on the location and how much demand there is for using an ATM. For instance, you can get away with a higher surcharge at a casino than a retail store. Deciding on a surcharge will have a direct affect on how much money you’ll make for each ATM transaction.

If you fill the ATM with your own money, you will be refunded the money withdrawn from the machine by customers through an automated clearing house. This is typically done at the end of each business day. This ensures you don’t go too long without having access to your own money. On the other hand, if you use a vault cash management service, they will provide the cash for your ATM and handle the refilling of the machine for an agreed upon price.

Meanwhile, the money made from the surcharge comes from an ATM network. The network will collect the surcharge fee from each customer and either send a check or make a direct deposit to you, the ATM owner. In most cases, this happens on a monthly basis so that it’s easy to keep track of the revenue from your ATM. This ensures that the whole process of getting paid for ATM transactions is as simple and easy as possible.

There may even be a way to make more money than what the surcharge provides. Banks also pay fees to ATM networks during each ATM transaction called an interchange. Some ATM networks take some of the money they earn from the interchange and give it to the ATM owner, particularly when an ATM has a high volume of transactions. This may not be a drastic improvement from the money received for each surcharge, but it can add up over time and lead to even more income from your ATM.

Contact National ATM Wholesale today to learn about our vault cash management.

Explore More ATM FAQs

Explore More ATM FAQs

Owning an ATM can be a great way to add an extra source of income for your business. However, it’s important to remember that an ATM is like any other piece of equipment that helps your business run — it may break down and require maintenance at one point or another.

Fortunately, most ATMs that are purchased brand new are in great shape and work with few issues. Of course, that doesn’t mean you should forget about the warranty that comes with your new ATM, as it’s your failsafe in case something goes wrong.

Standard Warranty

Almost every new ATM will come with a warranty from wherever you purchased it. In most cases, the ATM will be under warranty for a year. This is standard practice and means that if anything goes wrong with the ATM during the first year, a technician can be sent to fix the problem or replace a part without any cost to the owner. In most cases, nothing major will happen during the first year, but it’s always nice to know that you’re covered in case it does.

Extended Warranty

Once the one-year warranty has expired, the owner of the ATM is responsible for any repairs that become necessary. Fortunately, it’s possible to buy an extended warranty for an ATM once the first year is up. Most companies that sell ATMs and provide owners with a one-year warranty are willing to extend that warranty for an additional year or two, and sometimes up to five years. There are also companies that sell warranties on ATMs even if they didn’t sell the ATM originally, so there are usually several options available when looking for an extended warranty.

Parts Warranty

For individual parts that malfunction and need to be replaced, ATM providers will usually offer a warranty on the new part. In most cases, the warranty on the individual part is six months. If the ATM as a whole is still under warranty, the part can be fixed for free and given a six-month warranty regardless of the warranty on the rest of the machine. This can be great insurance, even if it’s unlikely anything serious goes wrong with a new ATM.

For individual parts that malfunction and need to be replaced, ATM providers will usually offer a warranty on the new part. In most cases, the warranty on the individual part is six months. If the ATM as a whole is still under warranty, the part can be fixed for free and given a six-month warranty regardless of the warranty on the rest of the machine. This can be great insurance, even if it’s unlikely anything serious goes wrong with a new ATM.

Contact National ATM Wholesale today to learn more about our ATM warranties.

Explore More ATM FAQs

Explore More ATM FAQs

Most of us know that ATMs are a place to withdraw cash from a bank at any time of the day or night. However, the days of people carrying one, maybe two, different types of cards in our wallet or purse are over. These days, most people are loaded with different cards that have different purposes, and not all of them can be used at ATMs. Let’s take a look at the major types of cards and find out what ones are ATM-friendly.

ATM Cards

The name gives this one away, as ATM cards are definitely ATM-friendly. These cards are directly tied to a person’s checking or savings account and will be issued by their financial institution. The sole purpose of this card is to withdraw money from a checking or savings account at an ATM. Not all banks will issue ATM cards, but those who withdraw money on a regular basis usually have one.

Debit Cards

Debit cards are similar to ATM cards, so they will be accepted by an ATM. However, they serve other functions. It’s possible for debit cards to be used at the point of sale like a credit card, as most of them have either a Visa or MasterCard logo on them to indicate they will be accepted anywhere those credit cards are accepted. At the same time, most people will also use their debit card to withdraw cash from an ATM. In these instances, debit cards are no different from ATM cards.

Credit Cards

On the surface, credit cards may look the same as debit cards, but they serve different functions and they are not accepted at ATMs. Most businesses will accept credit cards, but those transactions don’t directly remove money from a person’s bank account the way it does when money is removed from an ATM using an ATM card or debit card. Credit cards allow people to make purchases that are paid for at another time, but they are not a viable card to use at any ATM.

Contact National ATM Wholesale today to learn about our ATM programs and 19 different machine models.

Explore More ATM FAQs