Due to the complexity and frequent fluctuation of cannabis banking laws, it’s generally a smart idea for dispensaries to keep cash at all times. Because of this, it’s critical for dispensaries to choose a reliable and reputable ATM provider.
Whether you’re buying an ATM for your marijuana dispensary outright or you’re interested in a dispensary ATM placement program, ATMMachines.com can help. We boast over 20 years of experience providing ATM services and equipment to merchants of different industries, including cannabis-related businesses.
Why ATM Machines Are Important to Dispensaries
The cannabis industry in the United States is still emerging as a legal enterprise. Although a growing number of states allow medical marijuana dispensaries — and some, like Colorado, California, and Michigan, even allow cannabis for recreational use — federal law still categorizes marijuana as an illegal drug. As such, credit card processing companies and banks backed by the FDIC usually won’t accept transactions from dispensaries and similar marijuana businesses. Thus, cash is still king in this business, and having a dispensary ATM makes it much easier for your customers to pay with cash. It’s that simple.
Dispensary ATM Options
ATMMachines.com offers several options for cannabis businesses looking to provide an ATM for their customers. Let’s discuss each of them here.
Buying an ATM
If you think you can’t afford to own an ATM, think again. ATMs generally cost between $2,000 to $2,500 these days, and at that price, an ATM will pay for itself in a short period of time. When you buy an ATM from ATMMachines.com, we provide free ATM processing, programming, and training, along with 24/7 technical support and real-time online monitoring and reporting. You are responsible for cash loading and maintenance, but you also receive 100% of the transaction fees.
Dispensary ATM Placement Program
If you want the benefits of having an ATM without the responsibility of owning one, you may be an excellent candidate for our marijuana dispensary ATM Placement Program. With this program, we provide the machine and ATM installation at no cost to you, and we keep the machine stocked with cash on your behalf. You provide the space and electricity. In return, you earn a percentage of the surcharge revenue. It’s a great way to earn passive income while you focus on running your cannabis business.
ATM Partnership Program
A third option to look at is our ATM Partnership Program. As with the Placement Program, we take care of the delivery and installation of the machine. You will be responsible for keeping the machine stocked with cash, but you keep half the profits from transaction fees in return.
Dispensary ATM FAQ
Are there any legal concerns to be aware of with having an ATM in my dispensary?
None to be concerned with. ATM transactions are between the customer and his/her bank or credit card company. They do not directly involve your cannabis business, and customers are free to spend the cash as they please. As long as your business is legal by state law, you should have no problem maintaining an ATM.
What types of ATM machines work best in dispensaries?
Depending on your space, almost any ATM type will work well in a dispensary, including standalone, wall units, and countertop ATMs. Take a look at our available ATMs to see what might work for you.
Do I need to worry about ATM processing or vault cash?
If you own the machine, vault cash and ATM processing are your responsibility. That said, we provide free ATM processing for your convenience.
What if my ATM requires maintenance or repairs?
If you are participating in our ATM Placement Program, we take care of repairs and maintenance. If you own your machine, we provide ATM repair services at an affordable cost.
How do I start my own ATM business?
ATMs can provide a substantial amount of passive income. If you’re interested in setting up your own side ATM business, ATMMachines.com offers a comprehensive online course that shows you how. Click here to learn more about the course.
ATM Solutions for Every U.S. State
We have worked with clients on ATM sales and placements in all 50 states, including areas with medicinal and recreational marijuana dispensaries. This means that no matter what your business is or where you are located, we have the capability to help increase your customer base and boost your revenue by matching you with the perfect ATM.
If you are contemplating buying an ATM for your cannabis dispensary, contact ATMMachines.com today to learn more about how to acquire an ATM.