ATM Partnership – 50-50 Revenue Sharing Program

In most cases, the surcharge revenue is split 50/50. Splitting it down the middle is often the easiest option for both parties.

In some cases where higher surcharges are acceptable to ATM customers, we offer a deal where Limitless retains a fixed base-rate portion of the surcharge per transaction, and the merchant keeps any amount above that base rate. For instance, if your location has customers willing to pay a $5.00 surcharge (like at casinos or luxury hotels), Limitless might keep $2.00 (or another amount that justifies our investment in the ATM), while you would receive the remaining $3.00. If you later decide to increase the surcharge to $6.00, you could keep $4.00 per transaction, and so on.

Loading is actually pretty easy. The process goes like this:

1. Examine all the bills you plan to load into the ATM to ensure there are no torn bills (as tears can cause jams) or brand new bills placed back-to-back (which might stick together). It’s a good practice to mix the bills to avoid issues. While some might consider this step optional, at Limitless, we prefer to take extra measures to ensure the ATM functions smoothly. Certain banks offer a service to pre-check the money, which can skip this step.
2. Count the number of bills in the stack you ’re ready to load. Note: you don ’t have to count dollar amounts, only the number of bills.
3. Open up the ATM vault using your key and password.
4. Open up the bill cassette.
5. Place the stack of bills into the bill cassette.
6. Close and lock the cassette,
7. Close the safe and make sure it is locked securely
8. On the ATM ’s screen go through some menu options and then enter the number of bills you loaded into the ATM ’s journal.

That ’s it!
It sounds like a lot, but it really only takes 10 minutes, maybe less once you get good at it.

The amount of cash needed for ATM loading depends on transaction volume and average withdrawal amounts. For hotels with an average withdrawal of around $70 and 500 transactions per month, you'll need approximately $1,000 per day. Considering that vault funds take 48 hours to be re-deposited into your account, you should have at least $4,000 in cash if you load every 4 days and opt for daily deposits.

If transaction volume or average withdrawal amounts are higher, you'll need more cash. If you prefer not to load every 4 days, calculate the average daily withdrawal amount and multiply it by the number of days between loadings. For instance, if you choose to load weekly instead of every 4 days, you'll need around $7,000 in cash on hand. Weekly deposits are an option, though daily deposits can be more manageable in terms of bookkeeping.

If you don’t have the necessary cash, you can consider our free ATM placement program where we handle the cash loading. For those with some cash available, our partnership program is a good alternative.

Note that weekends or high-traffic days might require more cash, but overall, it balances out. To simplify management, we offer automatic notifications for low cash levels so you won't have to constantly check or wait for customers to report issues.

Your cash that has been dispensed out of the ATM (the withdrawn vault funds) will be automatically re-deposited back into the bank account of your choice via the Federal Reserve within 48 hours .

How?

Each ATM has a terminal ID and a bank routing number. When someone takes money out of your ATM, the banking networks know which machine did the transaction through these numbers. That ’s how the banking networks also know where to put the money back the next day, through the routing number.

When someone uses your ATM, they are accessing their debit or credit card account to get an overnight loan from your ATM. Most ATM owners set a surcharge fee for this convenience.

How long will it take to get my money back?

All ATMs settle on banking days at 4:00 pm EST.

Any funds withdrawn during regular business hours, Monday through Thursday, will be re-deposited back into your account within 24 hours from the time it was withdrawn from the ATM. Money taken out of the ATM before 4:00 pm EST on these days will appear back in your bank account the next morning. Any money taken out after 4:00 pm will appear the day after.

All weekend transactions which include Friday, Saturday and Sunday, will be deposited the following Monday morning. Saturdays and Sundays are not banking days so any money taken out after 4:00 pm EST on a Friday will not show up in your bank account until Monday morning.

For example:

• Funds withdrawn on Tuesday before 4:00 pm EST will be in your account on Wednesday morning.
• Funds withdrawn on Tuesday after 4:00 pm EST will be in your account on Thursday morning.
• Funds withdrawn any time on Friday, Saturday or Sunday will be in your account on Monday morning.
• Funds withdrawn on Monday before 4:00 pm EST will be in your account on Tuesday morning.

Then simply withdraw the same funds from your bank account and start the process of refilling the ATM with cash all over again.

“When will I get the surcharge money?
Limitless will electronically deposit a quarterly (or sometimes monthly) commission check via ACH. For some locations we deliver a handwritten check by mail.

1st-Line Maintenance:
Under this model if there is ever any problem which requires a basic fix (bill-jams, machine resets, card stuck in a card reader etc …) the merchant can call our 24/7 maintenance hotline. Since the merchant already has internal access to the ATM we usually try to diagnose the problem and walk them through the repair right then and there over the phone. Most ATM problems are simple fixes which can be solved in a few minutes over the phone, saving everyone time and money.

2nd-Line Maintenance:
If anything major ever happens, we will send a service technician to fix the problem. Under this model Limitless will handle 2nd line maintenance at no expense to the merchant.