SBI ATM Franchise 2023 | How to Apply & Start Earning from SBI ATM

SBI (State Bank of India) offers an ATM business opportunity for individuals and businesses who are interested in setting up an ATM machine for the bank. The franchisee will be responsible for the installation, maintenance and upkeep of the ATM machine, and will also receive a commission for transactions made at the machine. To be eligible for an SBI ATM business, an individual or business must have a suitable location for the machine, and meet the bank’s other requirements and criteria. You will also need to have a good financial background and business plan in order to start an SBI ATM Business.

SBI ATM Business ?

SBI ATM Business can be a profitable venture as it will provide steady income through the commissions on every transaction made through the ATM machine. Additionally, with the growing number of ATM users, the demand for more ATM locations is also increasing, making it a good business opportunity.

To apply for an SBI ATM business, You will Need to submit an application, which can usually be found on the bank’s website or by visiting a local branch. The bank will also conduct a background check and evaluate your business plan, before giving you the go-ahead to set up the ATM Machine.

What is an SBI White Label ATM ?

A White Label ATM (WLA) is an ATM machine that is owned and operated by a non-bank entity, such as an independent ATM Deployer (IAD) or a business correspondent (BC). These entities are responsible for the installation, maintenance, and upkeep of the ATM machine, and also receive a commission for transactions made at the machine.

SBI’s White Label ATM is an ATM machine that is owned and operated by a non-bank entity, but is branded as an SBI ATM. This means that the ATM machine will have the SBI logo and branding, but it will be operated and maintained by a non-bank entity. The non-bank entity will receive a commission for transactions made at the machine and will be responsible for installation, maintenance, and upkeep.

White Label ATMs are becoming increasingly popular in India as a way to increase the number of ATM locations in areas that are not well served by banks. They are also seen as a way to increase financial inclusion by making it easier for people in remote or underserved areas to access cash.

SBI White Label ATM also provide an Opportunity for Independent ATM Deployer’s and business correspondents to set up ATMs without the need of bank sponsorship, thus increasing the number of ATMs in the Country.

SBI ATM Requirements : Listed Below

To be Eligible to apply for an SBI ATM franchise, an individual or business must meet the Following Requirements:

1. Location : The Location for the ATM should be easily accessible to the Public and have a High Footfall.
2. Financial Stability: The applicant should have a good financial background and be able to invest in the ATM machine and its maintenance.
3. Business Plan: A detailed Business plan is required to be submitted along with the application, outlining the applicant’s proposed ATM location, target market, projected revenue, and other important details.
4. Security : The ATM location should be secure and have appropriate surveillance to ensure the safety of the customers and the machine.
5. Technical Knowledge: The applicant should have some technical knowledge and be able to maintain the ATM machine.
6. Legal Documentation: The applicant should have all the necessary legal documentation, including a PAN card and GST registration, to be able to apply for an SBI ATM franchise.
7. Insurance: The ATM location should be insured against any losses or damage.
8. Background Check: SBI conducts a background check of the applicant to ensure that the applicant is of good reputation and can be trusted with the ATM machine.

It’s important to note that these requirements may vary depending on the location of the ATM and the regulations in that area. It’s always best to check with the bank for the most up-to-date information on the specific requirements for an SBI ATM franchise in your area.

Documents Required for SBI ATM Franchise 2023

The Following Documents are typically required when Applying for an SBI ATM Franchise:

1. Business Plan: A detailed business plan outlining the proposed ATM location, target market, projected revenue, and other important details.
2. PAN Card: A copy of the applicant’s PAN card, which is a mandatory document for any business transaction in India.
3. GST Registration: A copy of the applicant’s GST registration certificate, if applicable.
4. Address Proof: Documentary proof of the applicant’s address, such as a copy of a utility bill or a voter ID card.
5. Identity Proof: A copy of a government-issued ID card, such as a voter ID card or a passport.
6. Financial Statements: Financial statements, such as balance sheets and income statements, to demonstrate the applicant’s financial stability.
7. Bank Statement: A copy of the applicant’s bank statement, showing the applicant’s account details and transaction history.
8. Legal Documents: Legal documents such as lease agreement or sale deed of the location where the ATM will be installed.
9. Insurance: A copy of insurance policy covering the ATM location against any losses or damage.
10. Background Check: SBI conducts a background check of the applicant to ensure that the applicant is of good reputation and can be trusted with the ATM machine.

It’s important to note that these documents requirements may vary depending on the location of the ATM and the regulations in that area. It’s always best to check with the bank for the most up-to-date information on the specific Documents required for an SBI ATM franchise in your area.

SBI ATM Franchise Investment Required ?

The investment required to set up an SBI ATM franchise can vary depending on several factors, such as the location of the ATM, the type of machine, and the cost of installation and maintenance. However, generally speaking, the investment required to set up an SBI ATM franchise can range from a few lakhs to several crores of rupees.

Typically, the investment will cover the cost of the ATM machine, installation, and maintenance. It may also cover other costs such as rent for the location, insurance, and security.

SBI ATM Franchise Investment also includes the recurring cost of cash loading, statement printing, & Software upgrades. The Total Investment will be Rs 5,00,000/-.

How to Apply for SBI ATM Franchise ?

To Apply for an SBI ATM franchise, an individual or business must follow the following steps:

• Visit the official website of State Bank of India and look for the “ATM Franchise” or “White Label ATM” Section.
• Download the application form and read the instructions carefully.
• Fill out the application form with all the required information and attach all the necessary documents.
• Submit the application form to the Nearest SBI branch.
• Wait for the bank to review the application and conduct a background check.
• If the application is approved, the bank will provide instructions on how to proceed with the installation and maintenance of the ATM machine.
• Sign an agreement with SBI and make the required investment.
• Install the ATM machine according to the instructions provided by the bank.
• Start operating the ATM machine and receive a commission for transactions made at the machine.

It’s important to note that the Process of applying for an SBI ATM Franchise may vary depending on the location of the ATM and the regulations in that area. It’s always best to check with the bank for the most up-to-date information on the specific process of applying for an SBI ATM franchise in your area. For More Details Visit the Official Website of State Bank of India.

Complete Guide to starting an SBI ATM Franchise 

To Start an SBI ATM Franchise, you will need to follow these Steps:

1. Meet the Eligibility Criteria : You must be an Indian citizen and have a minimum net worth of Rs. 15 Lakhs.
2. Apply for the Franchise : You can apply for the franchise by visiting the SBI website and filling out the online application form. You will also need to submit documents such as your PAN card, GST registration, and a copy of your bank statement.
3. Get the Site Approved : SBI will conduct a site inspection to ensure that the location you have chosen for the ATM is suitable. The location must have high footfall and be easily accessible to the public.
4. Install the ATM : Once the site has been approved, you will need to install the ATM. SBI will provide the necessary equipment and software, and you will need to hire a vendor to install it.
5. Maintain the ATM : As the franchisee, you will be responsible for maintaining the ATM and ensuring that it is in good working condition. This includes stocking the machine with cash and ensuring that it is serviced regularly.
6. Share Revenue : SBI will share the revenue generated from the ATM with the franchisee on a monthly basis.