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BluePlate

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About BluePlate

  • Rank
    New England ATM
  • Birthday 10/26/1970

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  • Website URL
    www.newenglandatm.net

Profile Information

  • State
    MA
  • Vending Type
    Other

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  1. BluePlate

    ATM business issues

    Most banks have cash management services, which will include armored services. Armored cars will only deliver to commercial address. If you have a friend that has a store front, best bet. There is many downsides to it. Feel free to drop me an email at todd@newenglandatm.net , I can give you some advice working with your bank. I spent 10 years in the banking business before starting the ATM business. Super busy lately, will do my best to get back to you ASAP. Banks are really trying to get away from cash. It creates security issues, creates liabilities and cost them money. Not to mention a whole host of other issues.
  2. BluePlate

    ATM Security

    Couple options. The surrounds adds a lot of weight and security......there are about 5 companies that make them www.TPItexas.com and http://atmarmour.com/ are two I use GPS tracking devices. DPL wireless, a wireless box company has an add on device that notifies you when the door is open, the ATM is tilted and will have a GPS device add on released soon. The problem is ....all this comes at a cost. surrounds are $800-$1200, half the cost of an ATM.... You can insure the machine and cash for about $18/month - with a $500 deductible
  3. BluePlate

    How to Start an ATM business???

    To place an ATM you need to work with a registered ISO (Independent Service Organization). Working with the right ISO from the beginning, I feel is pretty important. The ISO brings together a few things. They have the relationship with the processor, relationship with the sponsoring bank, the branded networks, and they often provide technical support along with equipment sales. ISO - The ISO brings together all the following elements, they also hold liability for compliance and managing IAD's IAD - Independent ATM Deployer, they is someone who places ATMs, they are required to work with an ISO Processor - the processor or the "switch" grabs the transaction from the ATM and directs it to the correct network. Sponsoring Bank - Because the ATM is a financial instrument, it requires a registered bank to bring the transactions into the banking world. This is required by the Federal Reserve banking rules. Sponsoring bank often oversees compliance with Federal Regs. Branded Networks - For older folks, years ago, you will remember if you had an ATM card, you had to go to the Network that your bank belonged to. In my case in Massachusetts, it was Yankee 24. Most networks are interoperable right now, meaning they have agreements to hand off transactions to one another. The network's job to work with the authorizing bank to acquire the transaction from the processor and direct it to the cardholder's bank for approval or denial. In summary, they first two things you want to do is, Find the right ISO to work with and find a bank willing to open an account for you. Each bank is different and may require different things. Many banks will not want to work an ATM operator, for various reasons.
  4. BluePlate

    Bitcoin ATM machines...advice?

    The next few year will be very interesting for Bitcoin. The fact that our Government can control it and pass laws regulating Bitcoin, makes it less of a currency than the US Dollar. Most lawmakers are over 40 and like me do not understand it (or the power it), so the laws that are passed will most likely not be right the first time around. Liken it to Marijuana in, not until the children of the 1960's became lawmakers, did it ever have a chance to become legal.
  5. BluePlate

    Bitcoin ATM machines...advice?

    As many of you know, I'm in the ATM business. In the last few weeks, I've been asked over a dozen times about Bitcoin. Honestly, I just don't understand bitcoin or any cryptocurrency. My biggest hang up is where it comes from. The answer I always get is "it's computers that mine for it like gold, the computers solve complicated math problems." , the amount of stupid questions I have after that are too vast to even begin asking. Anyways, I did a little research and I'm far from an expert. The Bitcoin ATMs you can buy or sell bitcoin. If you are buying, you insert the cash the cash into the ATM, and the ATM provides a QR code that you scan with your cell phone and it adds the bitcoin to your "vault". If you are selling, you create a QR code with you vault, scan it at the ATM and the ATM dispenses cash. The ATM charges a fee to do these functions. You are able to buy and sell online, but the advantages of physical ATM are 1) If you are buying, you can use cash to buy and you stay anonymous, which for bitcoin geeks seem to be important. 2) If you are selling, you are pretty much just doing one transaction and able to immediately turn the Bitcoin into cash. If you sell online, you are selling the transaction and then withdrawing cash (pretty much 2 transactions). As far as an opportunity I can see it two ways..... 1. ) An early adopter - You will most likely be able to have a choice of locations. Locations will be easy to get. You will be in front of the curve. Unfortunately, the future of Bitcoin it very grey. Government regulation is almost certain. Risk seems very high, but if it hits bit and you are in early - the rewards could be huge. 2.) A wait an see approach - You could miss the best spots, the learning curve be greater if you wait. A Bitcoin ATM costs between $6000-$10,000. The return on investment on a traditional ATM, still seems better. I'm personally going to keep a very close eye on it, stick with traditional ATMs, continue to learn and understand. If I see this moving towards critical mass, I may try to jump in. A friend advised me to add "first right of bitcoin ATM refusal" to any new ATM contracts (although I'm not a big contract guy) Hope this helps and creates conversation.......
  6. BluePlate

    Looking for info on Keypad repair

    As far as Hyosung Pin Pads go, only Hyosung is suppose to inject them. ATM Equipment will do it (they somehow figured it out). Most other repair companies will take them in and send them to Hyosung. Try the basic flash first Turn off ATM On the back of the pin pad, turn the 1st DIP switch on Turn on the ATM, Turn off ATM, turn dip switch off and turn ATM back on. Todd
  7. BluePlate

    Any ATMs for sale?

    I have refurbished 1500SE. These are 1500's with the upgraded EMV kits, color screen, can use internet (IP) $1250 each, pickup in Springfield MA These have been gone through completely by a certified tech, 6 month warranty. These are selling super fast....
  8. BluePlate

    video

    There use to be a video on here, about the 'day in the life of a vending guy' Anyone have a link?
  9. BluePlate

    ATM Route

    Few things you can do.... 1. Work with an ISO that has armored car offerings 2. Find someone who has money and is looking for passive income, pay them 8%-10% on the money you borrow 3. Offer the merchant a bigger cut if they load the ATM 4. Look for vault cash providers (VCP), we pay a few different people .75 cents per transaction to load our ATMs with their money 5. You must put income from your current route to grow, you will hit a point where you can add an account a month, two a month, one a week. It takes time. 6. If you own some good equipment, Firestone will do a "lease back" situation using your current equipment as collateral.
  10. BluePlate

    Cost of Goods

    Sorry, They just gave me gross sales numbers and commission numbers - no net numbers. Some of the commission were 30% I was trying to get a rough estimate on net
  11. BluePlate

    Entering the ATM industry, advice

    Not 100% sure what the question is, you basically need an ISO. There are quite a few ISOs out there. The ISO will bring all the pieces together, the sponsoring bank, the processor, the training, Ect. drop me an email at todd@newenglandatm.net , can help you out.....
  12. BluePlate

    Cost of Goods

    Wow, thought is would be closer to 40%, so the fact some of the accounts he is paying 30% of gross seems crazy..... I might stick to ATMs, LOL
  13. BluePlate

    Cost of Goods

    Hey all, I was presented with a snack/soda route. This is new to me, they have no records or anything. What % should I expect for cost of goods. We are looking at cans and a variety of snacks. Sorry about the newbie question.....
  14. BluePlate

    ATM placement fee

    You need at least 2 of the following: Lottery Sales Low Income Clientele College Student Clientele Travelers or people who don't have access to home bank ATM Cash Only or High minimum credit card acceptance Alcohol Sales Other gambling (video Poker, card games, ect)
  15. BluePlate

    ATM placement fee

    Poplady, I think we spoke a few years back. If you are interested, I can teach you a little about the business and what to look for. It's always easy, but I think there is a need out there for a quality locator. There are some certain criteria on quality locations. Your big challenge is knowing what to give out for a commission. Each market is different. Giving a $1.00 to the merchant in Ohio and giving a $1.00 to a merchant in NYC are 2 different worlds. Even within a geographic location can change. Let me know, I believe PBS charges $350-$400 a location, but they haven't sent anything worth while. Maybe we can trade some knowledge for a discount on locations. Todd (413)454-3538
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