Users' questions

How much space is required for ATM?

How much space is required for ATM?

How to Set Up an ATM. If you own a minimum 25 square feet of lobby space or 50 square feet of a shop in an area which needs an ATM or is located in a busy market area, then ATM Franchise is a great business idea.

How much rent does ATM pay?

Usually, an ATM starts making money when it clocks 100 transactions per day. If you decide to rent out your commercial space, you could earn around Rs 25,000 per month from the NBFC that installs the teller machine.

What are the facilities available through ATM?

Apart from cash withdrawal and checking account balance, ATMs today offer multiple facilities for the convenience of bank customers.

  • Open or withdraw a fixed deposit.
  • Recharge your mobile.
  • Pay income tax.
  • Deposit cash.
  • Pay insurance premium.
  • Apply for personal loan.
  • Transfer cash.
  • Pay your bills.

How do I shop at an ATM?

Your property should be in a commercial area. The property should be 60 to 100 square feet should be the surface area. For ATM installation the sealing should be made of concrete, for B-set setup. You should be holding NOC for B-set installation or a written application signed by all the residents of the building.

How to rent a space for an ATM?

To rent out space for ATM, you need to approach the marketing/ATM channel department in a bank. Ideally this is not possible to have their contact. The best way would be approach the Branch Manager of nearest Bank. Here are some of the points you need to know.

How big of a space do you need for ATM in India?

This model has been launched by TCPSL, in collaboration with Franchise India. “People can invest money in an ATM franchise and earn a return on their investment,” says Gaurav Marya, chairman, Franchise India. If you have lobby space of 25 sq ft, or at least a 50 sq ft room, you can take the franchise of Indicash TATA ATM.

How can I get an ATM installed at my place?

Make things clear with the bank, which might be through direct contact or through brokers. It is recommended that you should contact bank directly for ATM installation at your place, every bank branch has a concerned person who take charge for ATM machine installation. How Much Rent You Can Expect Rent depends on location.

What are the dimensions of an ATM machine?

Below are the dimensions for our two most used and popular ATM models. It is important to remember that there will need to be some additional space in front of the ATM and just to the front-left part of the ATM so the door can swing open and it can be loaded with cash.

How can I give my shop for ATM?

How much does bank pay for ATM space?

Experts say the banks are giving monthly rent at around Rs 15,000 for the ATM space means at least Rs 1.8 lakh per annum. If you add the appreciation coming in into the ATM property, an investor can pocket at least Rs 2 to Rs 2.25 lakh per annum easily.

What is a white label ATM?

ATMs set up, owned, and operated by non-banks are called white-label ATMs (WLATMs). Non-bank ATM operators are authorised under the Payment and Settlement Systems Act, 2007, by the RBI.

Can you own an ATM?

Expenses associated with ATM machines It’s not free to operate or own an ATM – you can rent or buy one. While it’s more expensive to buy an ATM, you receive a higher commission per surcharge transaction.

How many types of ATM are there?

There are two primary types of ATMs. Basic units only allow customers to withdraw cash and receive updated account balances. The more complex machines accept deposits, facilitate line-of-credit payments and transfers, and access account information.

Is IndiCash ATM free?

A transaction carried out at an ATM of the card issuing bank is called an On-Us transaction. Any number of non-cash withdrawal transactions will be provided free.

How much money do you need to start an ATM business?

To get started in the ATM business, you will need approximately $5,000 to purchase an ATM machine and load it with cash.

Can you have an ATM in a commercial space?

Under its brand name, it deploys ATMs at locations with high footfall and good visibility across the country. Another option is to rent out a part of your commercial space while you continue to use it for your own business. Take BTI Payments Solutions’ ATM-in-ashop concept.

Is there demand for ATM space around the country?

The demand for the ATM space around the country is high based on the percentage of the number of banks available. If you have a space attached to your house or a business place, then go ahead and rent it out safely and confidently for a continuous income. Expert-Market RELATED ARTICLESMORE FROM AUTHOR

Why do banks want to rent out space for ATMs?

The demand for renting places for ATMs has reached high for past some years because every bank wants to provide good service to their customers. You cannot imagine a bank with only 2 ATM in your city. Every bank want to reach all customers by providing easy accessable ATMs for daily transaction.