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Buying an ATM: How does it work?
Also: Buy your ATM Click here for FAQ How
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
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
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.
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.