Whenever I see local businesses have an ATM, whether it’s the liquor store or the nail salon, I ask myself how they have an ATM. I thought they would put their own money into it, but then how would they profit? Do they get the money from somewhere else (government)? How do they put more money in it, and how are they monitored to make sure the business isn’t stealing from the ATM?
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I own a small business with an ATM. The ATM is owned by a 3rd party service provider.
We **DO** put our own money into the ATM.
Customer withdraws money, pays a fee.
The 3rd party provider puts money into a dedicated bank account of mine.
I take money out of that account and put it back in the atm.
Once a month I get a commission check (1/2 the atm fees) that goes into my operating account.
Generally it’s around $150/month that we bring in on commissions.
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