Tuesday, May 25, 2010

Are ATM Thieves Absconding With $136,000 Per Machine?

The New York Post reports brazen ATM thieves have struck numerous street ATMs below 14th Street: "...escaping with thousands of dollars in cash during their three-month crime spree, in which they used crowbars and even a Cadillac to haul away the machines." (See video of one such heist here).

Are these recent strings of ATM thefts netting the thieves $136,000 each machine? Probably not, but it is possible. $30,000 is likely, and hauls of $10,000 plus per machine should be presumed. Here's why:

After witnessing the replenishing of ATMs in an interior location and guestimating the amount of cash being deposited at $60,000, NYC The Blog looked into how much money these ATM's that seem to dot every other corner in Manhattan might be holding.

Information readily available online at websites for ATM wholesalers confirmed the estimates above.

The amount of money that can be loaded into each machine, one sales coordinator informed, depends on the type of machine. Each machine can hold one to four cassettes of bills, and different size cassettes hold different amounts of money. 20 bills are assumed in these calculations. For example, the Tranax MB1700 with one 800 note dispenser will hold up to $16,000; equipped with a 1700 note dispenser, the Tranax1700 would be carrying $34,000 at capacity.

A slightly different version, the Tranax x4000, can be customized with one, two, or four cassettes, each holding 1,700 notes, carrying $34,000 to $136,000, depending.

The ATM at top, seen on a Manhattan street, is a Hyosong MB1500. This model comes standard with a 1000 notes cassette, and can be optioned to carry 4000 notes. Both the Hyosong and Tranax are common on the streets.

So just how much money are the ATM thieves getting away with? Machines on the street corner seem likely to be versions with only one cassette; an 800 note cassette seems to the be the smallest available. If the thieves hit it full, they walk away with $16,000. So their takeaway depends on how many cassettes are inside, and how full the machines are. It's possible the thieves have done their own homework, and are targeting only machines they know to have multiple cassettes, recently replenished. Either way, you can be certain, thus far the two hamburglers have absconded with a very large amount of cash.

Food for thought: How many ATM machines, on each corner, in every wall, in every borough, are in New York City, and how much money is literally sitting on the street? Talk about ballin' in the First World. 

» Follow NYC The Blog on Facebook and Twitter.
Photo credits: Paolo Mastrangelo/NYC The Blog
Get More NYC The Blog:

>> Subscribe To NYC The Blog Via Email

Contact NYC The Blog via Email