Interested in starting ATM business in Massachusetts

[pj999]

Hi Everyone,

I'm new to the forum and looking for some guidance on starting an ATM business in Massachusetts. 

I have 3 locations to place the machines which will be high volume. Possibly 1000 or more total transactions daily.

From what I've read so far at a minimum, an operator should have one bank account for fees and one for the money which will cycle in and out. Ideally it is best to have more than one account in case the bank shuts down your account. Can anyone recommend a bank local to me (via PM) that would open and keep open accounts without issue?

Any recommendations on a processor?

Best place to buy machines?

I have about 3 months before I will have to place the machines.

Thanks for any help you can provide.

 

 

 

 

[BluePlate]

PJ,

Feel free to drop me a line, we are registered in Massachusetts (as required by Div of Banks).  We have machines in stock and can do processing.  1000/transaction a day is more than I ever seen, though.  If thats a real number, it will be challenging to keep it loaded.  I'm sure you meant 1000/month.  1000/day you would need $1 million to keep the machines loaded.

Also, I know a few other people reached out to me from this board, If I didn't get back to you, please email again.  Been crazy crazy busy lately. AND very sorry!

 

todd@newenglandatm.net

 

 

[Ktdeady]

On 6/25/2019 at 5:40 PM, pj999 said:

Hi Everyone,

I'm new to the forum and looking for some guidance on starting an ATM business in Massachusetts. 

I have 3 locations to place the machines which will be high volume. Possibly 1000 or more total transactions daily.

From what I've read so far at a minimum, an operator should have one bank account for fees and one for the money which will cycle in and out. Ideally it is best to have more than one account in case the bank shuts down your account. Can anyone recommend a bank local to me (via PM) that would open and keep open accounts without issue?

Any recommendations on a processor?

Best place to buy machines?

I have about 3 months before I will have to place the machines.

Thanks for any help you can provide.

 

 

 

 

hi, I can't offer you any advice, but im interested in how you made out.

I've considered branching out into the ATM's myself.  It would be nice to hear how you acclimated.