ATM Fees
On The Rise
More and more people are using ATM's than ever
before. Our clients records indicate that these machines are not only profitable in
themselves, but also attract people into the store where they actually spend some of the
money received from the machine.
As of September 1,
2006, the average ATM fees received is approximately $1.50 - $2.00 per transaction and
more. |
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ATM Usage
On The Rise |
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| Don't keep your ATM a secret! |
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| Merchandise your machine by placing "ATM
Inside" decals on pumps. Use neon signs and door decals to spread the word. It also
helps to have a small "ATM Machine Available" sign or plackard near or at the
point-of-sale for the customer to easily see. |
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Recommendations:
- Look at an ATM Machine as a money-generating piece
of equipment and as a customer "driver" into your store.
- Own/lease your own machine. This way, it can be expensed. We can x
either expense the lease payment (Capital Lease), or in the case of a purchase, expense
the financing interest. Then, we can also depreciate (a real tax write-off) the equipment.
- Always sign contracts that provide a commission of $1.50 or more per transaction from
the first transaction.
- Look for companies that provide advertising on the machine window or tape. This way, the
advertisers "pay" for the space, and in many cases, it more than pays for the
monthly note on the machine.
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ATM
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 % you would normally
pay the bank on credit card transactions. Instead it will generate income with every transaction.
- An ATM machine in your establishment will
attract more customers, increase your sales, and reduce your bad check losses.
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ATM FACTS |
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The typical ATM customer
will spend an extra 15% more than a non-ATM customer in a convenience store. This
percentage rises in a bar, nightclub, or restaurant location |
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Indoor and free standing
ATMs are the most widely used types of machines, followed by drive through machines. |
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Half of adult Americans
use ATM machine on a regular basis with younger customers and those of higher income using
them most often. |
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40% of regular ATM users
will visit a machine an average of 10 times a month. |
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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. |
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The average withdrawal
is $60.00 |
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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. |
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ATM installations will
grow by 18% through the year 2006. |
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Source: Bankrate.com |
Today
consumers expect to find an ATM machine in each convenience store, gas station, restaurant
or sporting event!
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