Quote:
Originally Posted by brk-lnt
ATM's are very profitable to own these days. If the VK is actually *paying* to have an ATM there, they are getting robbed. They should either own the ATM (and make money off the fees) or lease the space to whoever owns/maintains the ATM.
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The ATM's are only profitable beyond a significant number of monthly transactions. There are expenses like processing, internet access, disputed transactions, and repairs, that significantly affect the income. There is also state licensing because when a machine is not bank owned there is an annual state license fee. There is also the cost of keeping your cash in an an ATM machine
Also, all of the older ATM's must now be converted to a machine that accepts the newer credit cards that have the chip in them. That expense is in excess of $1,000 per ATM