Install an ATM, earn extra money!

When there is a need for cash, we often go to an ATM, but do you know that you can also earn a significant income through it while sitting at home? For this, you need to lease your space. To install an ATM, you need to obtain its franchise. The responsibility of installing ATMs in the country has been given to selected companies by banks. In such cases, you need to contact them.

Most of the work or installing ATMs is done by companies like Tata Indicash, Muthoot ATM, and India One ATM. Therefore, those who want to install ATMs on their space need to send applications to these companies. Generally, by installing ATMs, one can earn anywhere from 2 to 5 lakh rupees per month.

How does the earning process work?
Banks and private companies provide rent for the space when an ATM is installed. The amount of rent depends on the area and location of the land. Typically, it can range from 20,000 to 2 lakh rupees. However, different companies have their own rules regarding this. Tata Indicash, the company that installs ATMs, does not pay rent. Instead, they provide a commission based on the number of transactions. On the other hand, Muthoot ATM and India One ATM provide both rent and commission.

Requirements for installing an ATM
If someone wants to lease their space for installing an ATM, they need to fulfil certain conditions. Under this, an area of 50 to 80 square feet is required for the ATM. The landlord should also have a one-kilowatt electricity connection. The construction of the space should be solid. Additionally, the space should be located in a place where people can easily engage in transactions. Moreover, the landowner will need to provide certain essential documents, including Aadhaar card, bank passbook, ration card, email ID, electricity bill, etc. They will also need to obtain a No Objection Certificate (NOC) from the authority.