A person has to invest a huge amount of money to start a business, which is a challenge for many entrepreneurs. But how useful is it if there is a way to earn Rs.60,000 to Rs.70,000 per month with less investment. The method of making money using ATM used to withdraw money is becoming useful and popular nowadays. If you want to get an ATM franchise, you have to submit an application on the official website of the company that holds the contract.
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For example, if you want to get SBI’s ATM franchise, you need to apply on the official website of India One ATM or Tata Indicash or Muthoot ATM. It is these companies that have contracts with most banks like SBI, ICICI, PNB and HDFC. Applicants have to deposit Rs.2 lakh as security amount and Rs.3 lakh for ATM cabin to get permission to set up ATM cabin. To set up an ATM cabin, you need to pay a total of around Rs 5 lakh, although this amount varies from bank to bank. You will get 8 rupees for every cash transaction and similarly you will get 2 rupees for every cashless transaction.
Conditions for setting up an ATM cabin:
1) Applicant must own a plot of land measuring 50 to 80 feet.
2) Must be at least 100 meters away from other ATMs.
3) ATM cabin should be placed in high traffic area.
4) At all times minimum 1 kW electrical connection should be available to the ATM cabin.
5) The cabin should be a permanent building with a concrete roof.
Important documents to be submitted for setting up ATM cabin:
1) Aadhaar Card, PAN Card, Voter Card
2) Ration card, electricity bill
3) Bank account and pass book
4) Photograph, Email ID, Phone Number
5) GST no
6) Financial documents required by the company
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