Best Way - Money Generating Strategies on ATM Machines

An ATM is a machine from which people can get money. You have probably used one before to withdraw cash with your credit card or your bank card. You can also make money from an ATM in any of several ways.

Buy a Machine

1. Buy an ATM from a company that sells them or from someone who has a used ATM for sale. You can buy machines for several hundred dollars, or you might be able to find them cheaper used. If you are handy, you can buy a very cheap broken ATM and fix it. Keep in mind that you want to purchase an ATM that is fairly reliable--once it is restored to working order, in the case of a broken one. It can't generate cash for you if it is frequently out of order.

Set it Up

2. Set up your ATM in your own establishment, if you have a business where people will need to use cash. ATMs work well in bars, restaurants, casinos, and retail stores. If you have retail space that is busy, you might also profit from an ATM, even if you don't sell anything in cash. Mall locations and strip malls are typically good places for an ATM.
   
   Offer your ATM for rent for a business if you don't have a business yourself. This can be a way to make additional funds from your ATM. Ask for a certain amount of money per month for the ATM, somewhere between $100 and $300 dollars, depending on the cost of living in your town and on how busy the ATM will be. Restaurant and bar owners will often pay for an ATM because having one keeps patrons in their establishment.
   
   Install the ATM in a good location. You will need to plug in the machine, but you will also need to hook it to a phone line or cable modem. Consult the direction book or someone with know ledge about ATMs to do this correctly.

Make Money

3. Contact your bank. You will need an ATM account that is specially hooked to the ATM you have. Your bank will need the phone or cable number of that particular ATM, which you should have gotten when you set up the ATM. Follow your bank's directions for hooking the ATM to the bank account. Decide on a fee for the ATM and follow the ATM directions to set up that fee.
   
   Fill your ATM with cash in $20 bills. Begin with at least $2,000 in cash. You will need more if you have a high profile location.
   
   Watch your bank account. As people take money out of your ATM, they are going to be taking the cash you have placed inside of it. At the same time, their bank accounts will make a transfer of those funds, plus whatever fee you have chosen to charge, to your bank account. You will make a small amount of money from each transaction--typically somewhere between $1.50 and $3 in the 2009 market. In time, these amounts will add up to recoup the cost of your machi ne and add to your profits.