ATM Business

It’s 2023 and there is high competition in the business market. Still, there are some business ideas that will give you a steady income. Starting an ATM business is one of them. People always need cash. The most popular way to withdraw cash without going to the bank branch is through an ATM. 

If you have a commercial space of 25 square ft to 50 square ft, you can start this profitable business. In another case, you can get the place on rent. A good crowdy location will have more chances to get more profit as transactions will be more. 

If you want to know how to start an ATM business, you need to know what the ATM franchise is.  There are very few ATMs in India compared to the population. Banks find it difficult to open an ATM in every corner of the country. 

So, RBI has permitted some companies to open ATMs in rural and urban areas. These companies are called Non-Banking Financial Companies and the ATMs opened by them are called white-label ATMs. Some of these companies are Indicash by Tata, Muthoot, Vakarangee, etc. You need to apply to their schemes to start your ATM business journey.

Why should you start an ATM business?

Starting an ATM business can be beneficial for you, the customers, and even for the bank. This could be a passive income for you. All you need to do is go through the procedures, and documentation, and install the ATM. You can happily do another job or business while this ATM will give you a steady monthly income. 

Suppose you have applied to the scheme of Indicash- You will earn Rs 5 for non-banking transactions like balance checking and statements and Rs 15 for each financial transaction. Consider 200 transactions every day, out of which 6 are non-banking transactions. So, you can earn around 2200 a day and 65000 a month. 

Types of ATM

You need to know the types of ATMs before installing one. There are mainly 3 types of ATMs- Freestanding, Through-the-wall, and wall-mounted. Each of them has different advantages and disadvantages. 

Freestanding ATM is good for repositioning, wall-mounted is good from the security perspective and through the wall is better if you don’t have enough free space. According to your convenience, install the right one. 

How to approach the ATM franchise?

Get a franchise offer from a bank. To process franchise offers, the majority of banks use their official website. To find out which banks to contact for an India ATM franchise tie-up arrangement, you can also visit the Indicash website.

 Hire renowned ATM installers like Muthoot, Indicash, or India One to install your ATM. You can visit their official website to contact them.

Some things you need to keep in mind before going into the ATM business- your ATM should have good visibility, a concrete roof, 24/7 electricity and it should be on the ground floor. 

Investment needed

Starting an ATM franchise can be a low-cost venture if you have a spot to put the ATM. Usually, well-known banks like SBI may ask for a refundable deposit of 2 to 3 Lakhs. The initial investment, including working capital, could total around ₹3 to ₹4 Lakhs. 

This business opportunity can generate a consistent monthly income, ranging from ₹25,000 to ₹75,000 or even more. The amount you earn depends on where the ATM is placed and how many people use it each day. 

So, if you have a suitable location and the initial funds, investing in an ATM franchise can provide you with a reliable source of income without much hassle.

Documents Requirements

Of course, you need to submit some personal documents to start such a business. Don’t worry, some basic documents you need such as your ID proof like an Adhar card, PAN card, Voter card, address proof like ration card or driver’s license, phone number and email address, bank account details, passport size photos, etc.

Some tips to grow in the ATM business

1. Right Location: 

When it comes to running an ATM business profitably, location is a crucial factor to consider. You need to locate a place where there is a great need for an ATM.  You must consider factors like visibility, easy access, and competition. 

Make the most of the places that are available to you. Best ATM sites often have the following qualities: only accept cash, heavy foot traffic, positive reviews, liquor license, position away from other machines, and convenience for you. The demand that your ATM meets is produced by places that accept only cash or that promote cash transactions. 

Additionally, locations with liquor licenses are good choices. Due to their extended hours of operation, your ATM has more opportunities for a higher number of transactions.

2. Security Measure: 

Security is the first priority in the ATM business. Make a significant security investment to shield your equipment against theft and vandalism. 

This could involve installing secure installation, alarms, and surveillance cameras. In order to avoid fraud, you should also instruct your consumers on proper ATM usage.

3. Excellent Customer Service: 

In the realm of ATM business, customer satisfaction is the key to your success. Maintaining the functionality of your ATMs and swiftly resolving any issues that arise is of paramount importance. However, it goes beyond mere functionality. 

A warm and responsive approach to customer service is your gateway to building a robust and long-lasting reputation. Your customers will appreciate the convenience of your ATMs and also the assurance that they can count on you to address any concerns promptly and with a friendly disposition. 


Getting into the ATM business can be a good way to make money without working too hard. It’s a smart investment. To do well, look at what people need, follow the rules, and make good choices. Just know, you have to keep your machines working, protect them, and be good to customers to succeed. If you do these things, you can start your journey to becoming a successful ATM business owner.


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