WHY SHOULD I CHOOSE ATM OF ORLANDO’S FREE ATM PLACEMENT PROGRAM VS PURCHASING MY OWN ATM?
No investment, no installation, no maintenance, no cash replenishing (unless you prefer to), and no headaches. PLUS YOU’LL EARN A COMMISSION FEE FOR EACH TRANSACTION! If you have a high traffic location and want a full service ATM without any of the headaches of owning one, ATM of Orlando will provide your business with an ATM free of charge, install the ATM, set up ATM processing, continuously replenish the ATM with cash, and maintain and service the ATM for the life of the ATM placement. You will also receive a percentage of each ATM surcharge (commission fee).
HOW MUCH IS THE ATM SURCHARGE?
ATM of Orlando sets the amount of the ATM surcharge depending on its location. Average surcharge nationwide is $2.50.
WHO WILL BE ENTITLED TO THE ATM SURCHARGE?
ATM of Orlando, the owner of the ATM, will be entitled to 100% of the ATM surcharge in exchange for owning, servicing and maintaining the ATM at your location. HOWEVER, ATM of Orlando will agree to pay you (the business owner) a commission fee for each transaction.
WHAT’S THE DIFFERENCE BETWEEN THE ATM SURCHARGE AND A COMMISSION FEE?
The ATM surcharge is the fee that the ATM user/customer is charged for making a cash withdrawal from the ATM (typically $2.00 - $3.00 per transaction). ATM of Orlando, the owner of the ATM, is entitled to 100% of the ATM surcharge. A commission fee is a portion of each ATM surcharge that ATM of Orlando will agree to pay you (the business owner) for letting us place an ATM at your location.
HOW MUCH IS THE ATM COMMISSION FEE AND WHEN IS IT PAID TO THE BUSINESS OWNER?
ATM of Orlando will pay the business owner a commission fee based on the number of monthly ATM transactions: $0.25/transaction for the first 200 transactions per month; $0.35/transaction for transactions between 201-300 per month; $0.50/transaction for each transaction above 300 during each calendar month. However, commission fees for high traffic locations can be negotiated. You will receive your commission checks at agreed upon intervals, typically every three months, along with a report detailing every transaction that occurred during that interval.
WHO IS RESPONSIBLE FOR REPLENISHING THE ATM WITH CASH?
ATM of Orlando is responsible for monitoring and replenishing the ATM with cash. However, you as the business owner may also elect to fill the machines yourself in exchange for a greater percentage of the surcharge income (larger commission fee).
IF I PREFER TO REPLENISH THE ATM WITH MY OWN CASH IN EXCHANGE FOR A LARGER COMMISSION FEE, HOW DO I GET MY MONEY BACK AFTER IT'S WITHDRAWN FROM THE ATM?
The cash is deposited into your account via the Federal Reserve within 24 hours. Funds from Monday will be available on Tuesday; Tuesday’s on Wednesday; Thursday’s on Friday; Friday’s, Saturday’s, and Sunday’s on Monday. Then simply withdraw the same funds from your bank account and start the process of refilling the ATM with cash all over again.
WHAT IS REQUIRED TO CONNECT THE ATM AT MY LOCATION?
The ATM must be placed near an electrical outlet and phone jack to operate and connect to the banking network. If the location has an extra phone line that doesn’t get a lot of use, such as a fax line or credit card machine line, the ATM can share that line. If there is only one phone line at your location, the ATM will need its own dedicated phone line. ATM of Orlando will advise you on what connection option makes the most sense for your location.
WHAT HAPPENS WHEN THE MACHINE GIVES OUT THE WRONG AMOUNT OF MONEY OR JAMS?
On rare occasions the machine may “jam” on a crumpled bill or run out of cash and not dispense the requested amount. In these cases the machine will automatically process a “reversal” immediately following the error crediting the users account for the amount NOT dispensed. The user can verify this with their bank immediately following the transaction. NEVER give the customer money, you may not get it back!! Once you notify ATM of Orlando of any problem with the machine, we will make every attempt to service the ATM within 24 hours of your call. Remember that we are losing money too every minute that the ATM is inoperable.
ARE THERE ANY CONTRACTS REQUIRED BETWEEN THE LOCATION OWNER AND ATM OF ORLANDO?
Yes, a contract is required which, among other things, will outline the services provided by ATM of Orlando, the period of time that you (business owner) will commit to keeping the ATM at your location, and the commission fee that ATM of Orlando will agree to pay you for each transaction.
WHAT IF I ALREADY OWN AN ATM AND WANT TO USE ATM OF ORLANDO FOR PROCESSING, WHAT ARE THE PROCESSING FEES?
ATM of Orlando does not charge anything for processing and you keep 100% of the surcharge revenue.