Here is how much to own an ATM?
Out of these expenses, we’re more concerned with the cost of an ATM. In other words, how much does it cost to buy an ATM?
If you’re reading this, you probably want to find out how much it will cost you to get such a machine. This article covers the basic cost details.
How Much is an ATM Machine to Buy?
You may want an ATM machine installed on your premises as a business.
This brings added convenience to your customers, among several other benefits. While that is the case, the processes involved in having an ATM installed apply a variety of expenses.
Is there a Specific ATM Machine Type you need?
Part of the first decisions you’ll need to make involves your specific needs.
In other words, will all ATM types serve your needs? What types are available? The ATM type you go for will determine how much you end up paying for it.
Different types include built-in, freestanding, wireless, countertop, and dial-up ATMs. Each of these has its up and downsides.
However, we won’t be getting into such details as the main goal is to determine how much an ATM will cost you.
ATM Machines can Attract a Significant Investment
It’s important to state that there are cost variations when shopping for ATMs.
One thing you’ll quickly notice is the wide cost variations. For example, a used or refurbished ATM can cost as low as $500, while new ones can cost as high as $25,000.
These are the cost extremes of buying these machines. Plus, other costs such as ATM vendor fees, additional accessories like cash cassettes, cash loading service, phone line, and several others could add to your expenses.
With this understanding, it’s necessary to ask specific vital questions to help determine if an ATM is an absolute necessity for your business.
This allows for better management of your resources. So, do businesses like yours have ATMs on-site?
Are there nearby ATMs? If there are, buying one may not be necessary as these other nearby ATMs could cover customer needs.
What more? Do customers often ask if you have an ATM? Do you operate a cash-only type of business? All of these questions help you assess the need for an ATM.
ATM Machine Price
While actual costs of ATMs can only be determined based on your needs, we’ve provided a general cost range to expect.
ATMs typically go from around $1,000 to as high as $25,000 or even higher, depending on the type. Asides from buying the ATM, there are other associated costs to consider.
Now the type of ATM will determine how much it goes for. For example, freestanding ATMs will cost around $3,500 to $7,000.
If you’re only interested in a used or refurbished machine, expect a cost of around $500.
Still, through-the-wall ATMs go for around $5,000 to $10,000 or higher on cost variations. Other more delicate variations impact ATM cost.
Such include the brand, whether it has a colored monitor or not, its cash-holding capacity, and more.
Speaking of the ATM brand, Triton stand-alone ATMs usually go for around $2,000 to $2,500. Other well-known brands include Nautilus Hyosung, Hantle, Genmega, Tidel, Tranax, ATM Link Inc., CR2, Auriga, KAL ATM Software, Fiserve, Vita Lansworth, and a host of others.
The ATM brand you choose may determine how much it costs. While that is true, people have reported paying an average of $2,000 to $4,000 for ATMs.
After buying your machine, expect certain associated costs such as vendor fees of around $10 to $20 per month.
More Associated Costs
Asides from the cost of purchase, ATMs will attract other associated costs mostly tied to their installation and operation. You may also incur periodic maintenance fees.
Examples of these associated costs include phone line costing around $20 to $40 per month and additional cash cassettes (optional) costing about $100 to $500.
You’ll need to make Direct Inquiries.
Although we’ve provided information on the general cost range of ATMs, it’s necessary to determine how much they go for. In other words, you’ll need to identify what you need and make your preference in the ATM brand.
This process helps with better search refinement. You get to identify what it is you want to buy while also finding out how much it costs. Now ATM costs may differ across locations.
Living costs might affect or influence pricing.
After reading through the information provided here, you’ll need to make actual contact with sellers or manufacturers to find out how much their machines cost.
This can be done online using tons of resources available to you.
Before Buying an ATM Machine
While shopping for an ATM, paying close attention to certain things such as finding the right equipment supplier, having basic fees, and learning about terms and conditions is necessary.
i. Finding the Right Equipment Supplier
Different suppliers of ATMs are found across every state. While some are reputable for their excellent customer service, others aren’t as reliable.
One way to find reliable suppliers is by researching the top ATM brands before finding those supplying them.
Other added incentives like warranty, service packages, and support all contribute to patronizing the right equipment supplier.
ii. Have Basic Knowledge of Fees
An understanding of ATM-related fees serves to benefit your business and customers.
Because ATM-related surcharge fees work better than transaction fees on credit cards, you can easily encourage customers to pay with cash, thus benefitting all parties involved.
iii. Learning about Terms & Conditions
Before buying an ATM, one must first understand the terms and conditions involved.
Paying close attention to the fine print enables you to make better purchase decisions and avoid unnecessary liabilities.
With a general idea of the cost range of ATM machines, you can better shop for your equipment.
Knowing how much it costs allows you to decide what to go for in terms of ATM machine brand, type, and design, amongst others.