Install ATM at your own house, make money
Mallappally: Angry that you don’t have an ATM near your home? Then go and get one yourself. ATM machines can now be installed on residential plots. It is an investment that assures a regular income with a comparatively smaller initial payment.
You need to own a house or building on the ground floor on the roadside.
The nearest ATM must be at least 100 metres away.
A room of least 50 to 80 square metre size.
One kilowatt electricity, uninterrupted, 24x7.
Permission to install satellite connection.
If you own the building, you have to deposit Rs 1.5 lakh. If it is a rented building, the deposit will be Rs 2 lakh. It will be refunded at the end of the contract period.
Another Rs 3 lakh have to be given, which will be inserted in the ATM initially. If you break the contract within one year, Rs 1 lakh will be deducted as a fine.
Now let us come to the main point. The income from the investment. Rs 8 will be credited to you for each withdrawal from the ATM. Rs 2 for all other transactions.
There are four agencies that install ‘Pre-paid Payment Instruments’. They are Tata Indicash, Muthoot, India One and Hitachi. Application can be submitted online through the company website. The officials will visit the plot for verification following which the agreement will be prepared.
Such ATMs are called White Label ATMs since they are owned and operated by non-banks. They are authorised under the Payment & Settlement Systems Act, 2007 by the Reserve Bank of India (RBI).