How can I become a FindiATM Franchisee?
You can become a FindiATM franchisee in four simple steps:
- Choose a business model:
- Option 1: Onsite Model – Select an existing FindiATM location to start your franchise business.
- Option 2: Offsite Model – Propose a self-owned or leased commercial space (60–80 sq. ft.) in a high-footfall area.
- Finalize the site: Once shortlisted, enter into a contractual agreement and complete the onboarding process.
- Make the investment: Invest approximately ₹3 lakh for daily ATM operations and pay a one-time refundable deposit of up to ₹2 lakh*.
- Launch operations: Receive training, initiate ATM operations, and start earning from each transaction from day one.
*Refundable security deposit based on the chosen business model.
How much can I earn as a FindiATM Franchisee?
As a FindiATM franchisee, you can earn from every transaction starting from day one, with no minimum transaction criteria. Earnings depend on the business model and location potential. Typically, a franchisee can achieve a healthy and steady return on investment (ROI) ranging between 33% and 50%.
Introductory offer: Earn up to ₹8 per cash transaction and up to ₹2 per non-cash transaction.
Disclaimer: ROI projections are based on business/market estimates and past performance. They do not guarantee assured returns. Each franchisee’s success depends on individual efforts and circumstances. FindiATM is not liable for any losses or damages related to investments.
What investment is required to start a FindiATM Franchise?
A minimal investment of ₹2 lakh is required as a security deposit to begin your entrepreneurial journey with FindiATM. This refundable deposit varies based on the business model:
- Existing FindiATM Site: ₹2 lakh refundable
- Franchisee-Owned/Leased Site: ₹1.5 lakh refundable
Additionally, ₹3 lakh is required as working capital.
Whom should I contact to become a FindiATM Franchisee?
You can submit your contact details on our official website: https://findiatm.com/contact-us/atm-franchise/
Alternatively, call our toll-free number: 18002662660
Our representatives will get in touch with you shortly based on business requirements.
What are the onboarding and documentation requirements for a FindiATM Franchisee?
- Identity and Address Proof: KYC documents, electricity bill (for self-owned shops), and landlord agreement (for rented premises)
- Business Documents: Proprietorship/Partnership/LLP documents, trade name, and GST number
- Bank Account: Open a new bank account tagged for waiver under Section 194N
- Documentation:Submission of required documents and signed agreement
- Security Deposit: Payment of refundable deposit of ₹5 lakh via demand draft
What is an Automated Teller Machine (ATM)?
An ATM is a computerized machine that allows bank customers to access their accounts for cash withdrawals and perform various financial and non-financial transactions without visiting a bank branch.
How can I become a Findi Master Franchisee?
If you have a strong network of investors or individuals with an entrepreneurial mindset and a sound organizational setup, you can become a Master Franchisee. An investment of ₹5 lakh is required:
- ₹2 lakh as a refundable deposit (depending on the business model)
- ₹3 lakh as working capital
How much can a Findi Master Franchisee earn from this business model?
A Master Franchisee has the potential to earn between ₹1 lakh and ₹2 lakh per month with an active portfolio of 30 to 50 sites. Each franchisee site should achieve at least 100 transactions per day on a monthly basis.
What is the minimum monthly commitment for a Master Franchisee?
A Master Franchisee must commit to at least 10 sites per month. These sites should be located in high-footfall areas with the potential to achieve approximately 100 or more transactions per day.
What is the role of the Master Franchisee after the sites go live?
The Master Franchisee acts as a mentor and guide, helping franchisees achieve the targeted minimum number of transactions on a monthly basis.
What are White Label ATMs (WLAs)?
WLAs are ATMs set up, owned, and operated by non-bank entities authorized by the Reserve Bank of India (RBI) under the Payment & Settlement Systems Act, 2007. A list of authorized WLA operators is available on the RBI website.
Is there any difference in facilities between bank ATMs and WLAs for customers?
No. For customers, using a WLA is the same as using a bank’s ATM.
Why are non-bank entities allowed to set up WLAs?
The RBI allows non-bank entities to set up WLAs to expand the reach of ATM services, especially in underserved semi-urban and rural areas.
What services are available at ATMs/WLAs?
- Cash Withdrawal
- Balance Enquiry
- Mini Statement
- PIN Change
- Cheque Book Request (subject to bank enablement)
- Account Statement Request (subject to bank enablement) Note: Services marked with an asterisk are available only if enabled by the customer’s bank. Cash deposits, utility bill payments, and mobile voucher purchases are not currently permitted at WLAs.
What types of cards can be used at ATMs/WLAs?
ATM/debit cards, credit cards, and prepaid cards issued by Indian banks can be used, subject to the issuer’s permissions.
What are the prerequisites for transacting at an ATM/WLA?
Customers must have a valid card and Personal Identification Number (PIN). The RBI has also permitted card-less withdrawals at ATMs.
What is a Personal Identification Number (PIN)?
A PIN is a numeric password assigned by the bank when issuing a card. Customers are advised to change their PIN after the first use, not share it with anyone, and change it regularly for security purposes.
Can cards issued by Indian banks be used at any ATM/WLA in the country?
Yes, cards issued by any bank in India can be used at any ATM or WLA across the country.
What are On-Us and Off-Us transactions?
- On-Us Transactions: Performed at your own bank’s ATMs
- Off-Us Transactions: Performed at ATMs of other banks
Free Transaction Mandate:
- On-Us: Minimum 5 free financial transactions per month
- Off-Us (Metro): Minimum 3 free transactions (financial + non-financial) per month
- Off-Us (Non-Metro): Minimum 5 free transactions (financial + non-financial) per month
Can banks offer more than the mandated number of free ATM transactions?
Yes. Banks may offer additional free transactions beyond the RBI-mandated minimum.
Are there transactions that are not counted under the free transaction limit?
Yes. Non-cash withdrawals like balance enquiry or cheque book requests at your own bank’s ATMs are excluded from the free transaction limit. Failed transactions due to technical errors are also not counted.
Are customers charged for transactions at ATMs?
Yes. Transactions beyond the free limit may be charged up to ₹20 per transaction, plus applicable taxes.
What should a customer do if an ATM transaction fails but their account is debited?
Although banks are expected to reverse such transactions automatically, customers should report the issue to the card-issuing bank immediately.
Where can customers find contact information to lodge a complaint?
Contact your bank branch or use the helpline on the bank’s website or ATM card. For FindiATM services, contact:
Email: feedback@findiatm.com
Toll-Free: 1800 2662 660
What is the time limit for banks to recredit a customer’s account after a failed ATM/WLA transaction?
Banks must recredit the account within five calendar days of the failed transaction.
Are customers eligible for compensation for delays beyond five days?
Yes. If the reversal takes longer than five days, the customer is entitled to ₹100 per day as compensation. This amount should be credited automatically.
What if the bank does not reverse the transaction or compensate the customer?
The customer may file a complaint with the Banking Ombudsman within 30 days of the bank’s response or lack thereof.
Visit: Banking Ombudsman Or file a complaint online: RBI CMS
What should be done to an ATM card when it expires or the account is closed?
Cut the card into four pieces through the magnetic stripe or chip before disposing of it.
What should be done if an ATM card is lost or stolen?
Immediately report the loss to your card-issuing bank and request the card to be blocked.
What are Magnetic Stripe cards and EMV Chip & PIN cards?
Magnetic Stripe Cards:Store data on a magnetic strip
EMV Chip & PIN Cards:Store data on an embedded chip and require a PIN for authentication
What is the RBI mandate for replacing Magnetic Stripe cards?
Banks were instructed to replace all Magnetic Stripe cards with EMV Chip & PIN cards by December 31, 2018. Cardholders who haven’t upgraded should contact their bank immediately.
What precautions should customers take for safe ATM/WLA transactions?
Customers should follow these precautions:
- Conduct transactions in complete privacy
- Only one cardholder should access the kiosk at a time
- Do not lend your card to anyone
- Do not write or share your PIN
- Shield your PIN during entry
- Avoid easily guessable PINs
- Do not leave your card behind
- Register your mobile number to receive alerts
- Report unauthorized transactions immediately
- Check for suspicious devices attached to the ATM
- Be cautious of strangers offering help
- Bank officials will never ask for your card or PIN over phone or email