ATM Depot Review – Scam Or Legit?

Today, we are going to talk about ATM Depot. Is it legit? Find out more in this review.

ATM, or automated teller machines, provide convenience to a lot of people. Not every establishment allows you to pay via debit or credit card. So having access to an ATM nearby is often a godsend for somebody who doesn’t have cash on hand. I often try to withdraw money before I go out to eat. Because you never really know when a restaurant’s point of sale machine might be down. It’s good to be cautious most of the time.

I had assumed that the banks are the only ones who are allowed to put up ATMs beyond the ones in their respective branches. Most of the ATMs that I come across whenever I go out are often affiliated with the major banks in that area. It made sense in my mind. Shouldn’t most people have access to the ATMs affiliated with their bank? For the most part, a lot of banks do not charge any fees for those that have an account in those banks. That’s why a lot of people are more apprehensive at withdrawing at an ATM that isn’t their bank’s. Those fees do rack up.

It was only recently when I found out that it was possible to earn an income running an ATM business. I didn’t even know that was a thing that you can do. Is it that easy to buy a functioning ATM and put it near or inside a commercial establishment? Apparently, it is. Though, it is mostly something that you can do in America. Which is not surprising at all. It is the land of opportunity after all.

So when I saw that companies like ATM Depot offer that kind of service, I was intrigued. There were a lot of questions that I had for a business model like that. A lot of people are interested in finding ways to earning money without doing a lot of work. And running an ATM business seems like something that a lot of people could do. Still, I was still curious about how it all works. And with this review, we will get to every single question that I have.

DISCLAIMER: I am in no way affiliated with ATM Depot in any way. This is just an independent review. You are still free to do whatever you want. But I hope that this review shapes your opinion on whether or not you should try out a business model like this one.

But before we get to the meat of the review…

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ATM Depot Review: Quick Details

  • Name: ATM Depot
  • Founder: Noah Wieder
  • Website: https://atmdepot.com/
  • Socials: Facebook, Instagram, YouTube
  • Type: Training program
  • Niche: ATM business
  • Recommendation: Running an ATM business requires a lot of time, money and effort. Even though, you might earn some passive income from setting up ATMs near commercial establishments, you have to be proactive in making sure that you are reloading money into those machines. You can’t expect that you will continue to earn an income if you are not making sure that your machines are well-maintained and secure.

Who is Noah Wieder?

ATM Depot founder Noah Wieder

There is not a lot to be known about Noah Wieder, founder of ATM Depot. From what I could find, his career started shortly after he moved to the West Coast after graduating from college. He just wanted a bit of change of pace to his life, seemingly. One of the first jobs that he had once he moved out was a corporate accountant and assistant buyer for what is now Costco. He worked for that company for more than four years. After that, he had co-founded a distribution company. But it didn’t really last long.

It was in 1990 where Noah seems to have stumbled into the career that he has now. He started as a director of operations for a company called Express Payment Network. His work there lead him to be recruited by a check guarantee company. It was during his time there when he was introduced to something called a scrip machine. Basically, it was a machine that, instead of dispensing money like normal ATMs, it would dispense this piece of paper that you had to give to a person manning the counter where the machine was stationed in. And then the merchant would give you the amount of money that was written on that paper. It served the same purpose as your standard ATM. But it had a couple of more steps involved. And it didn’t really seem that the banks preferred this whole system at all.

After that short stint, Noah went on to work as the vice president of sales and marketing for a company called National Bankcard Association. It was during that time when Noah started his own company called XtraCash. He was able to grow that company within five years before it was acquired by another company. Noah had worked with the company that acquired his business for a few years before deciding to start his own business again.

It was in the latter part of 2002 when Noah Wieder started Intelligent eCommerce and ATM Depot. And he has been running that company ever since. Aside from ATM Depot, Noah founded a company called Best People Search. That company of his merged with another data service company called Searchbug in 2010. Noah currently serves as CEO of Searchbug.

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Screenshot of the ATM Depot website

What is ATM Depot?

ATM Depot is a company that helps store owners and solo entrepreneurs how to run an ATM business as an extra way of earning income. They also offer a training program that teaches people how to successfully run their own ATM business. Before we talk about the training program, let us first talk about the actual ATM business that ATM Depot offers.

The business model that ATM Depot offers is pretty much like this. You fill out a form in order to get a guide that they offer called the ATM Start-Up Kit. This kit pretty much goes through the entire process of running an ATM business through ATM Depot. The kit includes a guide on how ATM Depot’s processing program works as well as a brochure that contains pricing for different types of ATM available in the market. It also includes paperwork that you can fill out in order to become registered as an independent ATM deployer or IAD. This applies to both business owners and solo entrepreneurs.

There is no fixed pricing to the business model that ATM Depot offers. It makes sense because not every single ATM is priced the same. Certain modes of standing ATMs or  through-the-wall ATMs might be more expensive than others. You are much pretty investing your money by buying an ATM. There might also be some registration fees in order to be recognized by the processing networks that are available in that area.

The way that you earn money through an ATM business is through a surcharge from every single transaction that happens through the ATMs that you own. Those payments will be transferred to the bank account that you have stated in the form that you have filled out.

ATM Depot founder Noah Wieder

What About The Training Program?

ATM Depot also offers a training program called the ATM Business Roadmap. This training program pretty much teaches you how to successfully run your own ATM business. I guess this training program is mostly targeted towards those that want to know exactly how this business works without having to buy an ATM first.

There are a total of nine modules included in the ATM Business Roadmap. The first three modules focuses on the basics of running your ATM business as well as choosing the best model of ATM for your business. It makes sense that you will have to know which types of ATMs work best for the location it might be next too. Speaking of which, the next three modules focuses on finding the right location for your business, as well as setting up and programing the system required for an ATM to work. You will also learn how to load your ATMs.

The last three modules of the ATM Business Roadmap focuses on the income earning aspect as well as how to negotiate revenue sharing if you are partnering up with a local establishment. You will also learn how to set up security around your ATMs. I mean, having something filled with money definitely brings a lot of risks.

The cost for the entire ATM Business Roadmap course is $1,997. But if you use the discount code on the website, it will now only cost $497. Aside from lifetime access to the course, you will also get a digital version of Noah Wieder’s book “How to Start ATM Business.” You will also get 12 months’ worth of access to the ATM Depot member area as well as a private Facebook group. Completing the course will also give you a certification that you are now an independent ATM deployer affiliated with ATM Depot.

There is a supersized version that includes a personal IAD page on the ATM Depot website as well as two hours of coaching and 90 days worth of priority support with their customer service. This particular option costs $3,997. But if you use the discount code, it now costs $2,497. So you’re pretty much paying $2,000 more just so you could get your business featured on the ATM Depot website and two hours of coaching.

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Final Verdict – ATM Depot Review

I would not recommend running an ATM business to a lot of people. While there is a potential to earning a “passive income” from setting up those machines, you still need to put a lot effort into making sure that those machines are safe and secure. You are putting a lot of your own money into running a business like this. Like, you’re literally putting in money to make sure that people could withdraw from it.

As for the the training program that ATM Depot offers, you can take it or leave it. The standard version is definitely not cheap. But the amount of knowledge that you will learn from it could be usable if you decide to actually become an independent ATM deployer. Otherwise, you shouldn’t really try out the training program if you have no intention of actually being an IAD. As for the supersized version, the two hours worth of coaching and the personalized page on the ATM Depot website does not justify the additional $2,000 that you will be paying for. The coaching isn’t really even a two-hour coaching call. It’s actually 15-minute sessions within a period of eight weeks.

Before You Leave…

If you are looking to start a real business which can help you make money online, check out my #1 recommendation.

This is the BEST business to start right now and it has helped me make $30,931 in the last month alone.

Go here to see my #1 recommendation on how to start making money online

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