ATM business UK

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Student111z
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Guys,

My question is, can people start an atm business in the UK?

Appreciate all the help!
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ageshallnot
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(Original post by Student111z)
Guys,

My question is, can people start an atm business in the UK?

Appreciate all the help!
I know someone who used to be on the board of such a company, so yes.

My only question would be why bother?
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Student111z
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The only reason I would bother starting one is because of the money you can make through interest.

Let’s say you set up your first atm machine and the fee to use it is £4. If 2,000 people use your machine you would make £8,000 just off interest.
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Final Fantasy
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(Original post by Student111z)
The only reason I would bother starting one is because of the money you can make through interest.

Let’s say you set up your first atm machine and the fee to use it is £4. If 2,000 people use your machine you would make £8,000 just off interest.
Having fees on an ATM to withdraw your own money is just evil. I refuse to use such machines.
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ageshallnot
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(Original post by Student111z)
The only reason I would bother starting one is because of the money you can make through interest.

Let’s say you set up your first atm machine and the fee to use it is £4. If 2,000 people use your machine you would make £8,000 just off interest.
That's not interest, that's revenue.

How much does an ATM cost to buy or rent? How much does it cost to install? How much rent do you have to pay to the location where it's located? Alternatively, what share of your revenue goes to the location? How much does it cost for maintenance and repairs? How much to top it up with money? How much is it for insurance against damage or theft?

And how many people would pay £4 when there are usually free alternatives and when use of cash is declining rapidly?
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Student111z
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https://youtu.be/WPvM6YiVglI

@ageshallnot

Watch this YouTube video mate
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Student111z
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(Original post by ageshallnot)
That's not interest, that's revenue.

How much does an ATM cost to buy or rent? How much does it cost to install? How much rent do you have to pay to the location where it's located? Alternatively, what share of your revenue goes to the location? How much does it cost for maintenance and repairs? How much to top it up with money? How much is it for insurance against damage or theft?

And how many people would pay £4 when there are usually free alternatives and when use of cash is declining rapidly?
And no I meant what I said when I wrote interest. Interest is what you will be charging people for the service you are offering to them.
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ageshallnot
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(Original post by Student111z)
And no I meant what I said when I wrote interest. Interest is what you will be charging people for the service you are offering to them.
https://www.investopedia.com/terms/i...%20out%20money.
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ageshallnot
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(Original post by Student111z)
https://youtu.be/WPvM6YiVglI

@ageshallnot

Watch this YouTube video mate
Which country is this? In which country do you propose to locate your business? Are the business conditions the same? Are the rates of return the same? Is the decline in cash use the same in the US and the UK?

To clarify, I know someone who used to be on the board of directors of one of the UK's largest ATM companies - not Link. She knows full well that the business is at worst dying, at best bumbling along. If you want to go ahead and you have the money to invest by all means do so. Alternatively, try to find the next big thing; not the last big thing.

https://www.google.com/amp/s/amp.the...-contact-fears
https://www.google.com/url?sa=t&sour...SqYIJH-Yoo2KN6
https://www.businessinsider.com/uk-a...20-8?r=US&IR=T
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ageshallnot
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Oh, and this might be interesting...

https://m.belfasttelegraph.co.uk/bus...-40097683.html
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Student111z
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I quote from your link “Interest is the monetary charge for the privilege of borrowing money”.

What does an atm hold? (Notes/cash)

Who are the people that withdraw from my atm? (The borrowers)

What are they being charged for borrowing my money (interest)

.
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ageshallnot
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(Original post by Student111z)
I quote from your link “Interest is the monetary charge for the privilege of borrowing money”.

What does an atm hold? (Notes/cash)

Who are the people that withdraw from my atm? (The borrowers)

What are they being charged for borrowing my money (interest)

.
They aren't generally borrowing from you. It's their money, held in a bank account and accessed via your ATM.
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Student111z
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(Original post by ageshallnot)
Which country is this? In which country do you propose to locate your business? Are the business conditions the same? Are the rates of return the same? Is the decline in cash use the same in the US and the UK?

To clarify, I know someone who used to be on the board of directors of one of the UK's largest ATM companies - not Link. She knows full well that the business is at worst dying, at best bumbling along. If you want to go ahead and you have the money to invest by all means do so. Alternatively, try to find the next big thing; not the last big thing.

https://www.google.com/amp/s/amp.the...-contact-fears
https://www.google.com/url?sa=t&sour...SqYIJH-Yoo2KN6
https://www.businessinsider.com/uk-a...20-8?r=US&IR=T
This lead back to my initial question if you scroll up and read it again.

Also your friend having a “dying business” does not determine the success rate of running an atm business.

Ooh and lastly, I’m sure you have watched the full video of the link I sent on this chat, the business owner shows how he has made money during the pandemic. This goes to show that it is a recession proof business if you manage it well.
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Student111z
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Leads*
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Student111z
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[QUOTE=ageshallnot;94258140]They aren't generally borrowing from you. It's their money, held in a bank account and accessed via
(Original post by ageshallnot)
They aren't generally borrowing from you. It's their money, held in a bank account and accessed via your ATM.
So you are trying to tell me that an atm does not need to be filled with money for people to withdraw money?
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DiddyDec
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(Original post by Student111z)
So you are trying to tell me that an atm does not need to be filled with money for people to withdraw money?
That isn't borrowing :facepalm2:
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Student111z
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(Original post by DiddyDec)
That isn't borrowing :facepalm2:
Elaborate.
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DiddyDec
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(Original post by Student111z)
Elaborate.
They don't have to pay you back.
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Student111z
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(Original post by DiddyDec)
They don't have to pay you back.
Yeah they don’t but the bank does in their behalf
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Student111z
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On*
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