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Buying an ATM: How does it work?

                             See Also: Buy your ATM
                             Click here for FAQ How ATMs Work
An average new ATM suitable for most applications will cost around $3000 +/- $500. That includes shipping, delivery within 2 hours of GTA, activation, set-up, programming and on site training. Price also includes a processing contract with CHC: you agree to let us process all transactions. We provide detailed reporting even secure web access to monitor live transactions etc.

ATM owner provides a void cheque for settlement account (where they want the float and designated share of surcharge to be deposited into). As outlined on our website; ATM owner gets 100% of surcharge for stright purchase deals. NO fees or deductions. No "bank share" to pay. ATM owner sets surcharge to whatever you like. Say $1.50 per transaction.

ATM owner must make arrangements to fill cash. Either do it yourself, have site owner/operater do it or contract us to do it. (we charge from $0.60 or less per transaction to load cash deducted from ATM owner's share of surcharge. Some restrictions apply). The ATM owner usually puts in $1000 to $3000 in $20's into the ATM cassette. The cash in the ATM is theirs and they can get it at any time. As cardholder's take out the cash, the system takes money from their accounts and settles it daily into designated settlement account. The system settles at 9PM EST automatically every day. Deposits are only on business days so no settlement on weekends.

Communications: The ATMs we sell need a phone line to connect to Interac. An optional Cellular modem costs $350 and then the ATM owner pays for the cellular service which is a flat $35 monthly for cellular encryption and processing (Versus a regular phone line $40-$55 monthly plus install fees to Bell) If you have high speed internet on site, an optional Internet modem costs $299 then the ATM owner pays $20 monthly for Internet encryption and processing.

CHC provides service, settlement, processing and reporting for free. Also receipt paper rolls are Free.

If site does 300 transactions monthly ATM owner gets 300 x $1.50 = $450 monthly and pays off ATM in less than 1 year. Quite a handsome return on investment.

Cash deposited to your account by ATM is settled by electronic transfer free of charge. Saves $2 to $3 per $1000 cash deposit fee charged by banks to most businesses per $1000 cash deposited.

See "Benefits of an ATM"