[VIDEO] Father and Son Find an ATM while Hunting in the Great Outdoors

Definitely not the best place to put an ATM.  We seriously doubt someone actually tried to install an ATM machine in the woods; no real reason you’d need cash while trying to Bag a Deer.  The father and son hunting team from Pennsylvania were surprised to spot a “blue smurf” aka older Triton ATM machine when they ventured out to go deer hunting.

According to sources, this was Aden Reich’s (11 years old) first hunting trip. Aden’s keen eye site (great for hunters) spotted the unknown odd device in the middle of a field while hunting with his dad, John Reich.  At first he told his dad he though there was a giant tomb stone in the field but upon further inspection they recognized it was an ATM.

[svpVideo v=1]

Obviously this ATM was stolen and disposed of in the woods.  If you’re in the ATM business or curious about the ATM Business and want to know the secrets of how to protect your investments the right way. Check out our latest book The Amazing Money Machine on Amazon.com

These people are all lined up at the ATM. We did not expect this to happen!

People Lined up at an ATM

Getting More than Just Cash from an ATM

Getting More than Just Cash from an ATM

Are ATMs Going to Become Obsolete?

ATM machines will never grow out of popularity. Cash is always going to be in demand, but the other services an ATM provides might not be necessary any longer. Most banks accept checks through your smart phone now so you do not have to go to an ATM to deposit money into your account. Instead of going to an ATM to withdraw money to pay a friend you can transfer money into their account online. So what are the things an ATM can do that you did not know about? You’d be surprised at what you may find.

  • You can collect gold from an ATM in certain places now. There are already gold dispensing ATMs in places such as Europe. Now gold dispensing ATMs are popping up all over the world. Whenever you decide that you want to invest into gold then you can go to an ATM and withdraw this metal. The machine will literally display an up to date exchange rate so that you can make a wise investment.
  •  Learn about financial opportunities when you visit an ATM. The screens have become highly advanced and now let people look at advertisements. ATM screens now show people ads that target that individual. For instance, if you have recently married, the bank might show you an ad about great home loan rates offered. This type of advertising has helped a lot of people learn about financial opportunities they did not know were present.
  • Did you know you could play the lottery on certain ATMs? As long as the state lottery commission approves it you can purchase a lottery ticket through the machine. A ticket is printed right there on the spot. You can also have your numbers sent to your phone so that you can verify whether or not you are a winner as soon as the numbers are released. Money is taken directly out of your account for the number of tickets you purchase.
  • Pay your taxes at an ATM. You will need to bring some important documents to the machine, but it is possible to pay taxes on certain ATMs. This can take a small amount of time so it is not recommended if there is a line behind you. Once your taxes are filed you can choose to pay any debt right there on the spot. Paperwork is printed and an e-receipt is given to you as proof of paying your taxes.
  • Withdraw money and reload your mobile device if you are on a pre-paid plan. Certain ATMs allow you to add more minutes or data straight from the machine. Every transaction you complete will take money directly out of your account. When you go withdraw cash you may want to add more minutes or additional data to your phone after you have seen your account balance.
  • Limit your spending by setting a limit on yourself. Some banks now allow people to set a budget to follow each week and month. The ATM will notify you of your remaining budget balance on your printed statement balance after every transaction you complete. You are not obligated to follow the budget you set. The purpose of setting a budget is to try and manage your money better so that you do not overspend. This is a good tool to use if you are trying to save money and want to closely monitor your spending habits.

The ATM has evolved to allow people to complete dozens of tasks beyond taking money. One machine that is far from being obsolete is the ATM. ATMs are continuing to expand the range of tasks you may complete at the machines. You can now even apply for loans or make a donation straight from an ATM. Businesses should take note and invest into machines that allow people a range of options to conduct at an ATM to improve the amount of potential customers.

How To Ensure You Profit From Your ATM

Ensure You Profit From Your ATM

So you have an ATM, but do you even know if you’re making any real profit? Some ATM operators consider the additional money spent in their location as profit but you may want to know the actual profit from the machine.

Do not become a business owner that buys an ATM and never calculates whether or not profits are being made. That’s no way to run a business. It’s a good idea to figure out how much you make a month and year so that you know the value of your investment.

When you don’t feel like you’re making as much profit as possible then you may want to consider ways to get more people to withdraw cash from your ATM. There are a few things you can do to encourage more customers to use your ATM.

How Much was the ATM?

Using the cost of the machine and how much profit you make from it monthly you can quickly see your ROI (your return on investment). Most business owners simply pay cash or use a credit card to finance the ATM (they aren’t that expensive anymore) so calculating ROI is fairly straight forward. While you can take advantage of depreciation and amortization as a piece of business equipment, you should also calculate how long it actually takes to recoup your investment.  We’ve seen busy ATM’s have an ROI of less than 1 month, while slower machines can take 6 – 12 months, which is still a fantastic ROI.

When you figure out how long it is going to take to pay off what you paid for the machine (your ROI) you’ll get a better understanding of when you will make a real profit. It should not take longer than a year to pay off what you invested to get the machine. Most business owners are able to pay off or recoup the investment in the ATM within a year.

Big factors include how much business you generate and the location of your machine. Make sure that your ATM is in a place people can easily find it. Consider putting your machine near the front of your store so people will be more likely to come in and use it if they need quick cash and don’t forget to load the ATM everyday.

How Much Does It Cost to Operate an ATM?

The factors that add to the operational cost of an ATM include communication (phone, internet or wireless device), a little electricity, and paper for the receipts.  All this added together is probably less than $0.85 per day.

Are you Keeping Track of the Money Going In and Out of Your ATM?

Most retail business ATM operators load cash daily similar to a cash register. So you should balance daily if you can. Otherwise, you can use the trial cassette close functions and online balance functions to track or count the money in the machine daily if possible. Whenever you or someone else loads the machine make your you have procedures in place to keep track of the funds. If you trust someone to load the ATM for you, be sure they keep a ledger or journal and make sure funds balance. This helps keep track of the money to ensure that you are not losing or missing any cash. Some people are tempted to think you’ll never miss a $20 bill here or there, so the last thing you want to realize is that someone you trust has been stealing a $20 here or there for a few months. Twenty dollars here and there might go unnoticed but it could add up.

You should be able to trust your employees but caution is always good to practice. Use the printer balance functions and put the receipts in envelopes and balance to the online system whenever you load or do your closeouts.

Are You Advertising that You Have an ATM?

A few signs, one for inside the store and a couple to put outside can make a big difference. Make your ATM very easy to find once people get inside. Post a big sign outside that reads “ATM Inside” so that people will know if they need cash all they have to do is walk into your store. Place another sign in close proximity to your store that notifies people there is an ATM within walking distance. A small investment into signs can go a long way and help you generate a lot of more profits on a weekly basis.

Another way to generate more ATM usage is to offer specials or coupons on the ATM receipt.  Most of the late model ATM machines make it easy to offer your customers extra value for using the ATM. If you have coupons in other publications, advertise those. You can also make deals with neighboring stores to advertise their store on your ATM if they advertise your store. You can also offer a coupon good for a special during their next visit.  There are lots of other ways to make your ATM more profitable. Want more tips on how to profit from your ATM, give us a call.

Toy ATMs

How Can I Teach My Child about ATMs

How Can I Teach My Child about ATMs?

You might be looking for a way to teach your young children basic concepts about money. Or, if you take your little ones with you when you use an automatic teller machine, you might be seeking a way to explain to them what that machine does. You may also want to dispel the notion that an ATM is some kind of magic gadget that gives people passing by as much money as they want. A toy ATM can be a great tool for teaching these lessons. Such a toy is similar to the piggy bank you might have had when you were a child – but on a whole other level.

High-quality toy ATMs work in similar ways. They look like realistic miniature versions of the real deal. And they store your child’s cash – dollar bills and coins. Your child can use its keypad to type in how much she wants to retrieve from the machine, and the machine will dispense exactly that much money. Thus, this kind of machine teaches kids about numbers and about counting money. Some toy ATM’s even come with toy ATM cards. In any event, the first few times your kids try this toy out, they’re likely to be amazed and delighted by the mechanics of it, and may want to play with it over and over again.

What is the Best Toy ATM to Purchase?

One of the best-reviewed toy ATMs on the market is the “YOUniverse Deluxe ATM Bank Machine.” Among its exciting features, this device:

  • assigns kids their own personal identification numbers
  • says hello to them personally when they enter their PINs
  • includes a cash drawer and separate slots for placing various kinds of coins and bills
  • displays flashing lights
  • plays sound effects.

All in all, this toy is sleekly-designed and highly portable.

Another terrific toy ATM is the “Deluxe ATM Toy Bank with ATM Card” from the Ohio-based company Trademark Games. This product includes alarm clock and calculator functions, and tells you the time and date. It also allows kids to enter information about how much money they wish to save and by what date, and then keeps track of how much time is left and how much additional money is needed to hit that goal.

Once children understand the basics of their toy automatic teller machine, you can teach them some more philosophical concepts about money and savings: how they should save as much of their money as they can, how they should only remove money from their account if they need something or if they really want something and can afford it. You could have them perform a simple task, like drying the dishes, and then give them a dollar for doing so, money they can put in their toy ATM. Then you can explain how what they just did mirrors what adults do: work for a wage and save that money for when it’s needed.

The toy ATM also allows parents a chance to help their kids brush up on arithmetic skills. All you have to do is have your child look at the ATM’s digital balance display and write down how much money she has. Then cover up that display and give her a certain amount of money to deposit. Before you uncover the new balance, have her use addition to figure out what that sum is. You can do a similar activity with subtraction; this time, of course, you’ll have her withdraw rather than deposit cash.

Of course, soon will come the day when your child outgrows her toy ATM and wants to use the real thing. Those are the tween and teen years. We’ll have some tips for coping with that situation next time.

ATM Cash Replenishment Tips

The process of loading your automatic teller machine with new bills is called ‘ATM cash replenishment’ (and not, for whatever reason, ‘ATM cash replacement’). It’s important to replenish your ATM’s cash as soon as it starts running low. If people find that your ATM does not provide them with sufficient funds, your business’s reputation may falter. You might even start losing customers.

What is the process for ATM cash replenishment?

ATM Cash Replenishment Tips

Once you’ve been operating one or more ATM’s for a while, the cash replenishment process will become routine. But there are important procedures you should always follow whenever you’re replenishing your ATM’s supply of money. They will protect your money, your ATM and most important, your safety and your employees’ safety.

  • First, try to vary the times at which you replenish your ATM cash. For instance, you could replenish early Tuesday morning one time, late Friday afternoon the next time, midday Monday the next, and so on. Don’t stick to a pattern of replenishment times, either. Instead, replenish on a completely random basis to the greatest extent possible. Not to induce paranoia, but thieves could be staking out your ATM at this very moment. They could be trying to discern when it is you do your replenishing.
  • Remember that you should replenish your ATM’s one at a time. You should replenish your cassettes one at a time as well. There should be no customers inside your place of business during a cash replenishment procedure. Shut your doors and shut your blinds to shield this process from the view of people passing on the street. Have on hand an alarm system, too. One you could strike at a second’s notice to automatically contact 911 in the event of a robbery attempt.
  • Before the new stacks of cash enter your automatic teller machine, take the time to flip through them. Look at each bill to make sure everything seems OK. That is, check that none of the bills is counterfeit or torn and that none contain markings indicating they might have been stolen. Also, make certain that each of the bills is the denomination that it’s supposed to be. If you find any problem bills, contact your bank’s manager at once, and don’t let them go inside your ATM.
  • If you have a safe full of cash on your premises which you use during cash replenishments, change the combination of that safe after each replenishment. Don’t use a master key with this safe, either. You’ll greatly increase your risk of theft if you were to ever misplace your key.
  • You should take enough time during an ATM cash replenishment to ensure you don’t make any mistakes, but at the same time, you should work as quickly as you can so that the process takes no longer than it has to. Also, never place any container holding cash on the floor, and certainly never take your eyes off of such a container, even for a split-second!

Secure services are available to take care of ATM cash replenishment

There are plenty of companies you can hire to take care of your ATM cash replenishment needs for you. A good service will order all the cash you need, and bring that cash to your place of business in an armored vehicle. They’ll also carry the cash from that armored vehicle to your ATM in a secure container. Further, that company may deploy an entire team to take care of these duties, including:

  •       the armored car driver
  •       at least one armed guard
  •       at least one experienced technician to actually replace the money

All these employees should present identification to you before you admit them into your business. In some cases, the ATM company will give you a list of employees along with samples of their signatures, so you may compare a signature on an ID card to a signature on your list.

Some of these companies are available to replenish ATM cash seven days a week, 24 hours a day. And in many cases, such companies offer ATM maintenance services in addition to cash replenishment – freeing ATM cards when they get jammed, for example – as part of a package. Hiring one of these companies to take care of your ATM cash replenishment needs will not only save you and/or your employees time, but it may eliminate a source of anxiety as well.