How does the ATM transaction work?
The ATM user swipes their card in the ATM and requests a withdrawal, for example $100 is requested and the machine’s surcharge is set at $2. The ATM dials into the appropriate banking network through a secure phone or wireless modem, the network accesses your banking network, verifies the pin, and other account information including available balances. If the requested amount is available the network processes the transaction sending a signal back to the ATM approving the withdrawal. The ATM then dispenses the $100. Later that evening the processing network automatically wires the $100 plus the $2 surcharge amount directly into the ATM owners account.
When do I get my surcharge or commission money?
Your surcharge income gets deposited into your account the next banking day after the transaction.
Who fills the ATM with money?
If you own the machine you can choose to fill the machine yourself. However, there are also “vault cash” service providers such as Brinks and Wells Fargo who can be hired to fill your machines at a nominal cost
How does the ATM transaction work? When do I get my surcharge or commission money? Who fills the ATM with money? How much money can an ATM hold?
It depends on the type of machine. Higher volume machines hold much more money than your stand alone models and do not need to be refilled as often. Most ATM owners prefer to keep a smaller amount of money in their machines to limit their risk in case of theft or because they do not have the available money to stock the machine with more. Many locations can get by with only a few thousand dollars which could last up to weeks.