Each time someone uses an ATM to withdraw money, the machine charges the user an ATM transaction fee to use the machine. Not every ATM however charges a transaction fee; only independently-owned machines charge a fee, while bank branch ATMs are free for bank customers to use. If bank branch ATMs don’t charge transaction fees, why would anyone use a non-bank ATM to withdraw money?
Bank branch ATMs may be free for bank customers, but these types of ATMs are not always conveniently located. A branch ATM may be too far away for the person to quickly access cash, or an individual could even be traveling in an area where their bank has no branch offices. Fortunately, most areas have independent ATMs (ATMs not affiliated with a particular bank), where people can access their bank account to withdraw cash. These independent ATMs did not appear until the 1990s, when ATMs could directly connect to the user’s bank account through dial-up internet connections. Since then, independently-operated machines have sprung up all over the country, and today, more than half of the 500,000 ATMs in the United States are privately owned. Owners of these types of ATMs charge a transaction fee to help offset the cost of maintaining the machines, and the more transactions an ATM has, the more revenue the machine generates for its owner.
ATMs are a familiar feature of the consumer landscape and are found almost anywhere, from college campuses, to shopping malls and convenience stores. Despite the costs of caring for an ATM, an ATM is worth investing in for business owners since many customers expect businesses to have an on-site ATM. Furthermore, most of the cash withdrawn from an ATM is spent at the business, thus circulating the money back into the store.
America’s ATM assists small and medium-sized businesses with ATMs solutions, financial service kiosks, and marketing products. With a management team experienced in the retail and finance industry, America’s ATM understands the challenges of being a business owner and can help businesses find the best ATM program for their needs. Choose from three different programs, the Free ATM Placement Program, the Free ATM Partner Program, or the ATM Processing Program. Contact America’s ATM through the website, http://americanatm.com/contact-us/, or call a representative at 877-475-1104 to learn more information about how America’s ATM can help your business.