ATM Placement for Cannabis Business

As of December 2022, marijuana/cannabis dispensaries can no longer use Cashless ATM's and have to rely on regular cash transactions.  These businesses now rely on cash transactions so having an on-site ATM that allows customers to make withdrawals is important. Many times if your business does not have an ATM and a customer steps out to find an ATM, they may not return or find another cannabis business that has an ATM on-site.

In addition to cannabis laws constantly changing, there are also cannabis banking laws.  The cannabis industry is not yet federally legalized in the country.  Unfortunately for your business this means that due to federal law, credit card processing companies and banks which are all backed by the FDIC do not allow transactions from businesses in the cannabis dispensary industry.  Therefore the only legal option of accepting payment for cannabis and mmj dispensaries is by cash only.  This is why having an on-site ATM with free placement makes it easier for your business so that customers can easily access cash funds and not have to leave your establishment to find an ATM elsewhere which can possibly result in loss of business.

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Free ATM Placement

One popular option which offers no-risk is Free ATM placement in your cannabis/marijuana dispensary business.  This allows you to not have to put any money down and you still get paid for generating cash from the ATM.  This is usually a great option when  starting out for new startup businesses and requires no setup costs or maintenance costs.  Free placement is offered nationwide as long as your business is run in a state where operating a marijuana dispensary business is legal.

Owning an ATM or ATM Rental/Leasing?

If you choose to go the rental/leasing route. many times there are no upfront costs to place a machine at your business.  In order to have your ATM up and running all that is needed is a space to place it, power, and internet. There are many programs that offer this option, and they are responsible for restocking the machine with cash and also repair and maintenance.  With this option you also earn a percentage from the surcharge.

As a business, you also have the option to purchase your own ATM.  An ATM can cost anywhere from $2,000 to $3,000 which  many businesses have seen the money you receive from the fees will pay for the ATM within months.  In addition owning an ATM has the following benefits:

• Low cost purchasing options
• You keep all profits of the ATM surcharges
• Able to set your own surcharge
• Installation and Programming Included

When it comes to owning your own ATM, you are responsible for restocking the ATM with cash.

Benefits to having an ATM placed at your Business

An ATM machine is a crucial asset for your cannabis selling business.  In addition, by offering an ATM sign at your window of your business, having an ATM can also increase foot traffic and new customers.  Most statistics also show when a withdrawal is made at your ATM, the funds will be spent there 

In addition, with having an ATM in your dispensary there are no legal concerns as long as your business is legal by state law because your business is not involved with the ATM transaction between the  customer and bank. 

How We Can Help

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When it comes to ATM placement for your Cannabis dispensary business, we  can help you decide what solution is best for your business.  We have tailored solutions that are tailored specifically for cannabis dispensaries and provide ATM solutions in all 50 states.  Contact one of our customer agents so you can take the step of having an ATM for your business and no longer have to worry about customers leaving and coming back to make cash withdrawals.