Half of adult americans use atm machines on a regular

Info icon This preview shows pages 2–5. Sign up to view the full content.

Half of adult Americans use ATM machines on a regular basis; higher income Americans use them most often 40% of regular ATM users will visit a machine an average of 10 times per month
Image of page 2

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

60% of Americans between the ages of 25 and 34, and 51% between 35 and 49 use ATMs an average of 8 times a month The average withdrawal is $60.00 According to a recent survey, 43% of customers prefer to receive cash from ATMs regardless of whether or not their bank is open or not BENEFITS: The average ATM customer will spend a substantial portion of site accessed money with your business. Brings customers to your business so that they may access the ATM. Provides ultimate convenience to your customers. Saves your business from having to take checks. Eliminate credit card charge backs. Saves your business the percentage you would normally pay the bank on credit card transactions; it generates income with every transaction. Attracts more customers, increases sales, and reduces bad check losses Why should a business get an ATM machine?
Image of page 3
Even with debit and credit cards, cash will always be king. With the increasing costs for businesses to take debit and credit cards, many businesses are looking for an alternative to taking plastic. Rather than paying someone a percent of their sales, why not make money and have cash being spent in their business. Having an ATM machine in their business not only will save them the money they spend on credit card processing, but they also make money off of having an ATM machine in their business! When you purchase or lease an ATM machine from a merchant, you get to select your surcharge amount. Every time a customer uses your ATM machine, you keep 100% of all the surcharge revenue profits, unless you split your surcharge with the business owner. Your customers can make withdrawals on your ATM by using a debit card or a credit card, and can also check their balances on the ATM. You get to select what denomination you use in your ATM. ATM machines are also a drawl into a business. If someone walks by your business, they may come in just to use your ATM machine. When the customer takes money out of your ATM machine, the cash retention rate is 35-40%. That makes that someone using your ATM machine will spend 35-40% of the money they just took out of the ATM machine and spend it inside a business. You’re bringing in new customers to your business all thanks to your ATM machine! Also, by having an ATM machine inside business’s, you’re eliminating the risk of having credit card charge backs. Rather than accepting checks, and running the risk of them bouncing, you can have your customers use your ATM machine. This way, you don’t lose the customer and gain cash without the risk!. Worried about time management? It only takes about 3 minutes from start to finish to stock an ATM machine with cash. ATM machines require very little time. In total, about 10 minutes a month would be necessary to be spent on your ATM machine. You can make thousands of dollars a month with only 10 minutes of work by having an ATM machine!
Image of page 4

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

Image of page 5
This is the end of the preview. Sign up to access the rest of the document.
  • Winter '16
  • Mrs. Law
  • Credit card, Automated teller machine, Personal identification number, smart card, ATM Business Mastery Course

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern