its like owning your own poker machine- you have to put your own money in, and then the money comes out- but nothing "grows" inside.

There's no magic!

Urban myths

Never mind

BTW welcome to the site

If there was any money in it the banks would be owning the machines themselves.

http://www.ownyourownatm.com.au/atm-investment-australia-faqs.html

 

http://forums.whirlpool.net.au/archive/1170245

 

-- Edited by Sheba on Thursday 28th of February 2013 07:59:38 PM

That's why the bank's don't own them ..a lot of  up keep would be involved ..and maintanence and who pay's the insurance on them. And i am guessing the owner of ATM would have to pay rent to the shopping centre or who ever , for having it there.I would look into real hard, as Banks would not allow anyone to get hold of this kind of business if it was making money for them. Banks now are going to hand your money over to goverment dept if you have not used that account in 3 years...Next it will be the car the van. They are big business even bigger than our goverment in my view.

Denis,

You say it is quite common.  Do you have experience with them yourself or do you know people who do?  It just seems so mystical I would love to speak to someone who does actually own one.

Thanks

Now this is tongue in cheek!

Imagine owning your own ATM. You have it sitting in your lounge. On payday you go to the bank and get all your money out, come home and put it in your very own ATM. Now all you have to do is when you need money you withdraw from your very own ATM. Whats the point!

Me personally, I'd stay away.

It's much the same theory as owning your own vending machines. Huge outlay of dollars and you basically are just making someone else money. Very minimal money to be made for the amount of hours it requires. Also it's not as easy as one may think to place these in areas where they will actually get enough usage to make residual money off of. I'd go around and try and get placement agreements before even making any purchases of these atm's. Either way, good luck with your decision.

If you want to loose you hard earned cash, go ahead and invest, there are many pitfalls in having your own ATM and yes they are just another vending machine and I was in that industry for more than 30 years, I assure you that these ATM's wouldn't be offered to you if you could make good money from them, they would be running them for their own profit.
The major problem with vending machines is, say you buy 10 located machines, at the end of year one you will have had to find a new location for at least 3 of these machines, if you can't do this at the end of year 3 your garage is full of ATM's.
This is what happens to most people that buy vending machine runs they, don't have the ability or the time to find new locations, the other major problem with private ATM's is they are easily transportable one man and a trolley and you have a cash box of your very own.
The same thing use to happen to cigarette machines you could loose a machine full of cigarettes or cash or your van would disappear with $50,000 dollars of stock on board.
Cheers
David

sandsmere wrote:

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 Some businesses own their ATMs .

I know of 2 hotels that do ,and I'm sure there would be plenty more .

I doubt that an idividual person would be bothered .

 

 It is fine for these places to have their own ATMs as they do not have to keep finding new places to locate them. But for Joe blow off the stree they are not so lucky to have their own business,

 

 

 

 

 

 

 

 

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Do not know why or how the As got into my post .Can anyone help with a answer please.

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-- Edited by herbie on Saturday 2nd of March 2013 01:21:00 PM

Why have two of the above posts got a string of A's down the page?

I think it could be a very good investment, just go down to the local shop and watch all the people at an atm, it pays out every time, everybody wins, and sometimes there is a jackpot if you are extra lucky, I have not seen anybody loose, better than going to a casino.