5 Opportunities for a Portable ATM

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A portable ATM is a good way to generate passive income, especially if you live in or near a major city. This is because a portable ATM machine is quite versatile. If there’s a power source, you can operate a portable ATM at any indoor or outdoor event! 

Benefits of a Portable ATM

Benefits of a Portable ATM for an ATM Owner

If you are thinking about getting into the ATM business or have already started, it’s probably because you desire the flexibility. ATMs allow you to make passive income. That means that your machine makes money for you while you take care of other business or enjoy your freedom! And a portable ATM is even more flexible than a stationary one.

This flexibility means that you have more options and more control with a portable ATM. You can operate it at multiple events in a year, in a month, or even in a week. And new events arise all of the time! This ability to travel increases your exposure and reaches more and more potential customers.  Stationary ATMs, on the other hand, are only trafficked by the same locals, and only on an as-needed basis.

Another benefit of a portable ATM is that you can find opportunities that are particularly traffic heavy and cash-based. This increases your transaction potential because you are offering a necessary service at a temporary location. The alternative is placing your machine and hoping customers use it.

Competition can also be minimized by operating ATMs at events. Attendees are not likely to leave the event to hit their bank or a convenience store ATM. 

Benefits of an ATM for an Event Host

While a portable ATM machine can bring ATM owners passive income, it can also result in more success for the event hosts. There are event attendees who want to minimize the amount of cash they carry on themselves, especially at events with large crowds. This is typically a safety precaution. 

Instead, they might plan to visit an ATM for incremental cash as the need arises. Without this convenience, attendees are likely to spend less, either because they don’t have the cash necessary for purchases or because they have to go off-site to get cash. Leaving the event might produce opportunities for attendees to spend their money elsewhere along the way, which is business that the event loses out on.

Event hosts also want their vendors to do well. This keeps them coming back and ensuring that attendees have an enjoyable amount of options for food, beverage, goods, and entertainment.

5 Opportunities for a Portable ATM

Any multi-day event is a great opportunity for a portable ATM. Multi-day events bring in large crowds of people who need cash for food, drinks, and other vendors. The following 5 opportunities are particularly good ideas especially as the seasons change and outdoor activities return!

Farmers Market

Farmers markets are great locations for portable ATM machines. This is because most vendors accept cash only. There are some that now use Square or money transfer apps like CashApp to accept payments, but small business owners benefit more from cash payments.

Each digital card transaction costs small businesses 3% of the transaction. So even though you might pay full sticker price, and you might even tip, for every $1,000 in sales paid by card, that vendor loses $30 of their revenue to financial institutions!

Pop-Up Markets

Pop-up shops are forms of “flash retailing”. And they’re a relatively new trend. And you know that “trend” is synonymous with “popular”. There is some underlying novelty to a shop or product that is available to you only for a limited time! 

Pop-up markets are popular because they generate interest, create a sense of urgency, and get people to come pay various businesses a visit for a fun, limited time event. Visitors are compelled to make some sort of purchase even whether they visit intentionally or come across it by accident because of this “limited time” element. Ever heard of FOMO? The fear of missing out…?

Pop-up shops are particularly refreshing lately because of the overwhelming amount of online marketing consumers are constantly faced with. Pop-up markets put faces to small businesses and add a personal connection that is hard to duplicate online. Therefore, if you want to place your portable ATM where consumers are, pop-up markets are the place to be!

Fairs, Carnivals, and Festivals

Fairs, carnivals, and festivals are obviously great locations for portable ATM machines because of the size of the crowds they draw. However, if you want to break into an event that has a long history in your town or town adjacent, you will probably find that they already have an ATM hook-up. 

But don’t worry. You can always try to contact an event planner or manager to see if he or she is happy with the current provider. If not, you might be able to convince them to partner with you instead if you can solve a certain pain point they are experiencing. This applies as well if they operate their own ATMs. Maybe they are tired of the extra work and would be relieved to have someone in the industry take over the task!

Fairs, carnivals, and festivals are also great opportunities because these typically only operate for about a week to a month before they move on. That allows you to explore and participate in other events throughout the season or year so that you aren’t reliant upon one particular event or audience for your success. 

Furthermore, these types of events are less likely to experience “slow” days. Farmers markets and pop-up markets, on the other hand, might lose business on days when the weather is less than ideal.

Concerts

Concerts are also great opportunities for portable ATMs, especially concerts that are held outdoors. These types of concerts can vary in location depending on the occasion. 

For example, a bar or restaurant might host a concert or live music to celebrate an anniversary. Or a neighborhood might organize a summer event or series of events for their community. 

These are the best types of concert opportunities because they typically aren’t planned so far in advance that ATM services are pre-arranged. They also might not be traditional, meaning the planning committee might not already have an ATM operator who has approached them in anticipation of an annual event. However, if you are able to get your foot in the door, you might be able to become a trusted part of recurring events and secure your business for years to come!

Parades and Holidays

Parades, on the other hand, might be more difficult to break into because they typically are quite traditional. So arrangements for ATM machines might already be made. However, any upcoming holiday is a great opportunity to look into events where visitors will have a need for cash. Just try to plan ahead by making your inquiries off-season to beat any potential competition.

How to Place a Portable ATM

Most portable ATMs can transmit transaction information wirelessly, so you don’t need a phone line to operate one. They are usually self-contained units, so you don’t necessarily need to house one in a building or enclosure, though canopies can help encourage usage, especially on wet days. 

When placing your machine(s) at an event, there are a few things to keep in mind to ensure that they see maximum traffic. First, you’ll want your machine to be visible and obvious. Near the entrance(s) is a prime spot because everyone in attendance will pass by. Other good spots include food and beverage vendors, shops, and anywhere tipping is expected.

However, for security purposes, you also want to make sure that your machine is safe from damage, vandalism, and theft. So it should be well lit at all times and within view of security cameras or event staff. You might also consider bolting it down if the location accommodates it. These precautions also make users feel more comfortable using your machine knowing that they are visible to witnesses.

Conclusion

Whether you are already a seasoned ATM owner looking for more opportunities or if you are just starting out, a portable ATM machine can be a great source of extra income. If you live in or near a large city, obviously, your opportunities will increase, but a portable ATM can do well in small towns too, especially if you already have good connections.

If you want to know how to get started in the ATM business, ATM Depot can help! We have guides and resources available for both ATM entrepreneurs and for pre-existing business owners, including event hosts and planners! Have questions? Feel free to contact us today!

Hyosung Innovue: Hyosung ATM Company is Rebranding

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Hyosung ATM machines are top of the line. They compete with Genmega, Hantle (Tranax), and Triton ATM companies. They’ve successfully secured their place at the top since the late 1990s. This is due in large part to their history of developing innovative technology and durable, reliable products. 

Now, they’ve gone even farther in their innovations by providing an even better human experience. The result: Hyosung Innovue.  

Who Is Hyosung?

Hyosung ATM company is a South Korean company that has made a name for itself in the ATM industry through its innovation, creativity, and technology in the production of next-generation ATMs. Hyosung ATMs have been known worldwide since 1997. Nautilus Hyosung ATMs were introduced to the United States in 1998.

We’re sure you’ve heard of them.

Hyosung ATMs have a reputation for being the most reliable, durable, and flexible ATMs on the market. Based out of Texas, Hyosung is one of the United States’ highest valued organizations in the ATM industry. Owning all of their intellectual property, they have always been able to bring new technology to the market faster than their competitors. 

Hyosung entered the U.S. market in 1998 with the first small-footprint retail ATM. They deployed thousands of cash recycling ATMs while other companies were only in the piloting stage. Since Covid-19, Hyosung has met sanitation concerns with their industry-leading disinfection protection. And with certifications in 10 key core banking applications, it’s no wonder Hyosung is the leader in core integration.  

Partners with 4 out of 5 of the top banks in the U.S., Hyosung is still the leading ATM self-serving solutions marketplace for both financial services and retail industries. They offer an extended set of transactions, alternate authentication methods, customized bank rules, and no network fees, bypassing the ATM network directly to the bank’s core banking application. 

Investment in research and development has made Hyosung the fastest growing manufacturer of ATMs in the world.The Hyosung ATM company prides itself on its innovation, creativity, and technology in the production of next-generation ATMs. 

For 25 years, Hyosung has been one of the U.S.’s highest valued organizations in the ATM industry. Now, they’re upping their game even more.

Best Hyosung ATM Machines

The top Hyosung ATM machines on the market are the Hyosung Halo II, the Hyosung Force (2800SE), the Hyosung 1800SE/1800CE, the Hyosung 2700CE, and the Hyosung 4000w. 

Hyosung 4000w

The Hyosung 4000w exemplifies the small-footprint ATM machine. At only 18.8” high, 25.3” wide, and 8.7” deep, it offers the largest screen (8”) for its size. This machine can be mounted almost anywhere (table, counter top, wall) and therefore is a great option for small businesses or any business with limited floor space. 

ADA compliant out of the box, no ADA upgrades are required as long as it’s mounted according to height requirements. With a 500 note cassette, the Hyosung 4000w best supports low-traffic locations.

Hyosung 2700CE

On the other hand, the Hyosung 2700CE is one of the best options for high-traffic locations. It has a higher cash-load capacity than most other machines can handle accommodating up to three removable cassettes.

Hyosung 1800SE/1800CE

The Hyosung 1800SE/1800CE is a free standing ATM machine with one of the smallest footprints. It is a good option for locations with limited floor space while also offering a 1,000 note cassette. For these reasons, the Nautilus Hyosung 1800 is among the best ATM Machines made for the retail market.

Hyosung Force

While it offers a wireless mounting bracket that accommodates wireless communication, the most noteworthy feature of the Hyosung Force is its 12.1” screen. This makes it a great machine for locations with dim lighting since it can easily catch the attention of customers. And the integrated topper has three brightness control settings. 

Hyosung Halo II

Finally, the Hyosung Halo II was designed to bring in customers. It has the sleekest appearance and gets its name from the literal halo of light surrounding the keypad. But attractiveness isn’t all it offers. 

Replacing the discontinued original Halo, the Halo II has been designed with long-lasting features and parts manufactured to lessen the impact on the environment. However, its components still work with most other Hyosung retail models, providing the owner with a fleet of interchangeable parts.

So what is Hyosung doing these days? Rebranding.

What is Hyosung Innovue?

Hyosung Innovue is the only manufacturer of ATM machines and teller cash recyclers (TCRs) in North America. Hyosung Innovue retains the original Hyosung values of inspiring innovative recycling technology, branch transformation, and engineering innovation for both financial and retail industries.

Better known as Hyosung America, this subsidiary of South Korea, Hyosung Inc., announced a new brand identity in January of 2023: Hyosung Innovue. Hyosung is a technology leader of self-service solutions in hardware, software, and banking services with over 30 years of experience in the industry. So why change?

The past year, Hyosung has been hard at work becoming a human experience maker. The goal? To improve day-to-day interactions. Pioneers in financial and retail ATM solutions, Hyosung is now aspiring to bring their “platform of integrated solutions to new verticals including hospitality and travel” says Hyosung America CEO, Sanghwan Kweon.

How? By bridging the physical and virtual worlds. Innovue represents innovation and vision. We anticipate the unveiling of several new game-changing products and solutions soon as Hyosung Innovue promises to improve banking, retail and hospitality, and consumer experiences. 

New Banking Experiences

Hyosung has introduced the Hyosung Series 9, its most advanced, bank-grade, eco-friendly recycling ATM machine designed to accommodate high volumes.

In addition to the Series 9 is the Connect Series. This series allows bankers to conduct most of their processes remotely including the collection of identification, filling out applications, gathering signatures, and closing deals.

New Retail and Hospitality Experiences

Hyosung Innovue promises faster and more frictionless retail experiences. Hyosung’s latest technologies facilitate self-ordering kiosks, self-checkout, and point of sales (POS) systems.

TangoCafe has been specifically designed to benefit the food and beverage industry. TangoCafe is a next-generation cafe that automates and optimizes cafe experiences via highly efficient space utilization and remote management based on robotics, AI, and IoT.

New Customer Experiences

TangoLife makes human experiences at ATMs more fluid, seamless, and equitable. Spanning banking, retail, hospitality, gaming, hospitality and healthcare industries, Tango offers convenience to people on the go.

And TangoNet is an API-based network that supports financial transactions between consumers and FinTech service providers.

Move Forward with Hyosung ATMs

As if Hyosung America wasn’t doing enough, now they are changing the game. Innovators since the 1990s, it should come as no surprise that Hyosung is on the forefront of change in the human ATM and banking experience. 

Want to know more about Hyosung ATM machines? See how they compare to Genmega machines here. Want to shop for more brands of ATM machines? Check out our ATM Buyers Guide. Just getting started in the ATM business? Contact us today!

ATM Security Camera: Do You Need One?

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An ATM security camera is a great way to protect your ATM, your customers, and your business. Not only does an ATM security camera deter crime, it also helps to catch criminals in the act.

There are many things you can do to improve the security of your ATM machine. But an ATM camera is one of the easiest things you can do. Unfortunately, it isn’t the cheapest thing you can do. 

Essentially, the choice to invest in an ATM security camera is up to you, the owner. Keep reading so that you can make an informed decision!

Benefits of an ATM Security Camera

Yes, cameras are popular security measures. But why? There are many ways video surveillance protects your ATM, your customers, and your business. 

Deter Crime

Obviously, the more security precautions you take, the better. Criminals do not want to spend more than a couple of minutes at an ATM machine, so after an obstacle or two, they are likely to just move on. And an ATM security camera is an obstacle.

To combat an ATM security camera, criminals would have to plan ahead and disguise or cloak themselves to avoid being identified. Or, they would have to remove or damage the camera. However, they would have to find the camera first, and that might take time. Even still, the camera could capture them in the act and, although destroyed, footage could be saved digitally.

This is not a hassle or risk most criminals want to face. Those “Smile, you’re on camera” surveillance signs you’ve probably seen in locations you frequent work. Don’t let someone break into your ATM machine because they didn’t know there would be visual proof. Let them know that the machine is under surveillance and prevent the crime and any associated damage altogether.

Catch Criminals

While surveillance camera systems reduce crime by 50% or more, crimes still happen. In these cases where the crime isn’t deterred, an ATM security camera can help catch the criminal. The camera can provide real-time response to give you a head start on alerting the authorities, and then you can provide them with identification from face detection and recognition from photo and video.

Prove Theft

An ATM security camera also provides access to photo and video of transactions. If you report theft to your insurance company, they might require proof. Providing them with that data helps you recover any losses. 

You might also have a customer who gets robbed at the ATM machine. He or she might call you to see if there is anything you can do. If you have the video footage, you could provide your customer with superior customer service. You might be able to help detect certain attacks as well and alert the authorities sooner than a bystander could.

And, unfortunately, you might need photo and video footage of transactions if you have a customer who files a false complaint. Having an ATM security camera can help you settle disputes and protect yourself against false claims.

Reassure Customers

Sure, an ATM security camera helps keep your ATM safe from damage and robbery, but it also protects your customers. Customers are more likely to use a machine that is under video surveillance than one that isn’t because they feel safer using it. 

This is another reason why it’s a good idea to advertise that your ATM machine is under surveillance. It could set you apart from competitors and bring in more business!

Where to Get an ATM Security Camera

You have a few options for security equipment. 

First, you can purchase machines that already have a camera built in. The Hyosung Force, for example, can be upgraded to include the Monivision Camera. The Monivision Camera takes a snapshot of customers as they enter their PINs and again as the cash dispenses. 

The Monivision Camera allows customers to see themselves on screen. This not only provides them with safety and comfort being able to see who is behind them, but criminals can also see themselves and know right away to move on!

Similarly, Genmega also offers a camera system. The GenCam camera system is actually included on all Genmega machines as a standard feature for no additional cost!

Now, you might already have ATM equipment that didn’t come with a camera system. You could upgrade your screen, or you could purchase your own third-party camera system from retailers like Costco or Amazon (we recommend a two-camera system). This means you might have to install it yourself. But how?

Where to Install an ATM Security Camera

An ATM security camera is really only as good as its placement. It isn’t going to work effectively if it isn’t aimed in the right direction. Therefore, installation is fairly straightforward. 

First, you will want the camera to have a clear view of a user’s hands and face. This will help you monitor transactions and settle disputes. You also want to try to capture as much of the surrounding area as possible. This can help deter or capture anyone lurking in the background. 

Finally, make sure the area is well-lit to improve the video quality. There is no sense in recording activity if the photo or video is dim, blurred, or obscure. This defeats the purpose of using surveillance for identification.

Do You Need an ATM Security Camera?

Camera systems and video surveillance are extra services and therefore come at an additional cost. If you are just starting out, this might be a feature you add on after you start generating revenue. However, it can also be a beneficial investment to protect your business and your customers. How much is your peace of mind worth?

You might even be fortunate enough to place your ATM machine in a location that already has video surveillance in place. Or, if you have an outdoor ATM machine, it might be in view of cameras of nearby locations. 

Of course, you will want to contact these locations to make sure the cameras are functional. They can be a crime deterrence regardless, but don’t count on them for evidence if they go out of service. You might feel better just having control of your own ATM security camera system so that you can make sure they are always functioning and get real-time data.

Each ATM business is different and each deployer has different needs and budgets. So consider the information in this article and make the decision that’s right for you!

Protect Your ATM Machine with These 5 ATM Security Tips

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These 5 ATM security tips will help you protect your one and only business asset: your ATM machine. Aside from the machine itself, which cost you a few thousand dollars, that machine houses hundreds of dollars in cash as well as access to consumer data. 

To protect yourself, your customers, and the banks, follow these 5 security tips. They’re simple and cost much less than the consequences of an attack.

Potential ATM Machine Security Risks

There are two types of risks you face operating an ATM machine: physical attacks and logical attacks.

Physical attacks involve tampering with the machine itself whether it be vandalism or an attempt to break into the safe, uproot the machine, and access the cash inside. 

Logical attacks involve accessing the mainboard and other internal electronics to breach the software or hardware. If successful, logical attackers are able to control the machine or cause it to malfunction therefore giving them access to cash without having to break into the safe.

There are a number of ways fraudsters and scammers can tamper with an ATM machine in order to access users’ card and PIN information. As an ATM owner, check your machine carefully every time you visit it to protect your machine and your customers.

Pinhole Cameras

Pinhole cameras can be inserted into ATM machines in order to record users’ PIN numbers. This is why it’s wise to cover the PIN pad with the other hand when using it because, as the name suggests, the camera is not obviously visible. However, loose parts around the card slot or keypad can indicate the presence of a pinhole camera.

Fake Fronts

Fake fronts are card or cash capture and PIN capture devices. They provide fraudsters with quick access to cash. By attaching an entirely fake front to an ATM machine, fraudsters are able to capture PINs and money.

Skimmers and Shimmers

Skimmers are tools that attach to an ATM’s card slot and secretly capture card details when withdrawals are made. A shimmer is smaller than a skimmer and is used to collect data from a card’s chip. 

An unusually bulky card slot indicates that a skimmer is being used. Misaligned or misprinted stickers are another red flag. These indicate an attempt to cover up where a device has been installed.

Lebanese Loop

A Lebanese loop is a device that traps a card inside the machine. When this happens, the ATM will keep asking for a PIN since it can’t read the card. This leads users to believe that the card has been swallowed by the machine, which sometimes happens. 

However, in the case of a Lebanese loop, once you abandon the machine, the fraudster then has the opportunity to collect your card. Therefore, if you lose your card inside of an ATM machine, call a technician to retrieve it or immediately cancel the card with your bank and get a replacement with a new card number.

Counterfeit PIN Pad

Counterfeit PIN pads will feel loose, thick, or sponge-like. This is because there is a device on top of the legitimate PIN pad that is capturing the PIN while recording it correctly on the ATM to complete the transaction. This way, users remain unsuspecting because the transaction takes place as usual. Numbers are typically transferred instantly via WiFi to the fraudster to use later.

To protect yourself and your customers from these attacks, follow the following 5 ATM security tips:

5 ATM Security Tips

1. Place Carefully

First, place your ATM machine carefully. Not only should you consider the location of the establishment itself, but also the location within the establishment.

Plan ahead for locations with high crime rates like gas stations, convenience stores, pawn shops, etc. Make sure there are security cameras in the area or provide your own. Cameras not only deter criminals, they also provide a real-time feed of your ATM machine and its activity.

Place your ATM in an open, well-lit area. Position the machine to have as many eyes on it as possible, whether it be in a busy aisle or in view of cashiers and other employees.

Finally, limit physical access to the case to prevent logical attacks and tampering. If the machine is against the wall or blocked by shelves or other furniture, it will be difficult for scammers to access points of ingress.

2. Bolt Down the Machine

Bolting down the ATM machine prevents strangers from moving and manipulating it. You will want to get permission from the location owner first as you will have to bolt the machine to the location’s floor, but damage is minimal and residual blemishes can be covered up easily. It will be worth it in the end to prevent any physical attacks.

Your machine should come with 4 pre-drilled holes, one in each corner of the base. Then, with a hammer drill and ½” concrete bits, you will drill about 4” deep. You can also finish with red heads, special concrete anchors (½” x 4.25”) that are hammered through the hole in the base plate and then into the concrete. You can also instruct the ATM installer to bolt the machine down for you.

3. Restrict Access to the ATM Case

Logical attacks require access to the mainboard or other internal electronics, so you will want to secure the top of the case and the seam on the side. If there are gaps, criminals can access cabling between the mainboard and dispenser and gain control of the machine or cause it to malfunction. 

You can either fill the seams or place an internal barrier between the case and the critical electrical components. This creates a second barrier which can deter a criminal even if he or she succeeds in breaching the seam.

Finally, limit the number of people who have access to the ATM. Provide keys to only a few trusted individuals as needed and change them periodically if possible.

4. Regularly Update Software

Logical attacks require access to software. The older the software, the easier it is to breach because it will lack modern safeguards. This is why it’s important to keep software updated. Criminals will target machines with software security holes, so establish a schedule to ensure you don’t forget or neglect to update your software with the latest security upgrades.

5. ATM Insurance

If all else fails, hopefully you will have an insurance policy. ATM insurance won’t prevent an attack, but it can protect you after the fact. In the worst case scenario, you will want to be able to recoup any losses. Fortunately, ATM insurance is relatively inexpensive.

If you own your own store or business where your machine is located, see if you can add the ATM machine to your existing business insurance policy. If not, or if your machine is located in a standalone location, shop around for an ATM insurance policy.

Like any other insurance policy, ATM insurance can be customized to meet your specific wants, needs, and budget. You will want a policy that covers your machine and cash. The premium rate is based on the amount of coverage, the company providing it, and your budget—your policy can be customized to cover any potential risks you want to mitigate.

Consider coverage for any of these scenarios:

  • Stolen cash
  • Removal of the machine
  • Repairs or replacement due to physical damage
  • Robbery while cash is loaded or unloaded

General liability coverage can range from about $400-$700 a year. For many people, it’s well worth it for peace of mind.

Protect Yourself and Your Customers with These Security Tips

Preventing attacks—whether physical or logical—protects your ATM machine, yourself, your customers, and the banks that have to deal with fraudulent transactions and replacement cards. Use these 5 ATM security tips to safeguard your machine, but also be on the lookout for any signs of tampering.

Purchasing a camera is the best way to prevent any kind of attack. Not only will it deter criminals, but with your own camera you can also always keep an eye on your machine and make sure no one tampers with or lingers around it.

The better prepared you are, the less likely you are to experience an attack. And remember to always check for signs of tampering.

Choosing ATM Equipment: Everything You Need to Know About Refurbished ATM Machines

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If you are new to the ATM business, you might be shopping around for equipment and wondering which is a better deal: new or refurbished ATM machines. 

If you are an experienced ATM owner, you might wonder what else is out there. Maybe you purchased new at first and are now considering adding refurbished ATM machines to your business. Or the opposite: you first purchased refurbished equipment and now wonder if that was the right move.

In this article we cover some main differences between new and refurbished ATM machines, particular advantages of refurbished ATM machines, and what red flags to look for. 

Purchasing ATM equipment is a big deal. It’s a $2,000+ investment and is usually your biggest startup cost. Not every ATM business looks the same. So we want to make sure that you make the best decision for your business. Let’s weigh our options: 

5 Differences Between New and Refurbished ATM Machines

1. Lifespan

Probably the most obvious difference between new and refurbished ATMs is the lifespan. A new ATM machine has an expected lifespan of about 15 years. So depending on the age of the machine, you could still get a good 10 or more years out of a refurbished one.

Refurbished doesn’t necessarily mean old. People sell their used machines for all kinds of reasons: they didn’t like the model, they decided another machine better suits their needs, they changed their mind about owning an ATM altogether, etc.

When shopping for a refurbished machine, consider how many years minimum you’d like to get out of it and compare that to the age of the machine. 

2. Technology

A new ATM machine is going to come equipped with the latest technology, all of the best bells and whistles. A refurbished machine won’t, necessarily, but it will still perform all of the same basic functions.

When it comes to technology, you need to consider “nice to have” versus “need to have.” If you are an experienced ATM owner, you probably have a good idea of what features you for sure want your ATM to have and which you can do without, especially if it saves you a buck to let it go.

If you are a new ATM owner, you don’t have this experience, so you might expect and even want those bells and whistles at first. Only through experience will you be able to determine what features to budget for.

3. Usability

Technology improves with each new model. Customer feedback is used to make each upcoming machine better than the last. Therefore, typically, improved technology makes newer machines easier to use. So if you’re looking to purchase your first ATM or aren’t particularly tech savvy, you might want to play it safe and go with a machine that will be easy for you to handle.

On the other hand, if you’ve been in the ATM business a while and have experience with older machines, you probably won’t have a problem navigating the technology on an older, refurbished model.

4. Compliance

Just as technology changes, so do regulations. New ATMs are going to be fully compliant right out of the gate, meeting ADA and EMV requirements. This isn’t a guarantee with refurbished ATM machines. However, upgrades are often available.

If you are looking at a refurbished machine that isn’t completely compliant but will meet standards with an upgrade, you might opt to go that route if the total still comes out to be less than just purchasing a fully-compliant, new machine.

5. Total Cost of Ownership (TCO)

This one is tricky. If you purchase a discounted, refurbished ATM machine but then have to invest in a number of upgrades, you might not end up saving as much money as you’d hoped. 

In this case, it might be worth it to just purchase a fully-loaded, new ATM. So do a little research and some math before purchasing so that you know exactly how much your initial investment will be.

Additionally, ATMs are electronic machines. They have intricate moving parts, electrical components, and software that all need to be maintained and can fail at a moment’s notice. So this goes for both new and refurbished ATM machines. You should know you can’t predict certain glitches and failures.

So in terms of overall repair costs associated with your machine, it’s really a gamble either way. The main price point to consider is the cost of purchasing the machine itself. A 1-year-old, refurbished machine, for example, is going to be hundreds of dollars cheaper than a brand new machine. So it might be worth it to go refurbished in that case.

But again, if you’re looking at an older refurbished machine that will need a number of upgrades, consider the overall price difference once you’ve added up all of the expenses.

5 Advantages of Refurbished ATM Machines

1. Cost Effective

Just like any other high-end electronics, the newer they are the quicker they depreciate. Refurbished doesn’t mean old, it just means not brand new. So you could find a like-new ATM for hundreds of dollars less than a new machine just because you aren’t the first owner.

Or, you could find an older machine for even less than the like-new one. Machines will get cheaper with age, but that does not necessarily have anything to do with the quality of the machine. Quality depends on the machine itself and its maintenance. So, hands down, refurbished ATM machines are cheaper to purchase than new ones. 

2. Lower Overhead

If you opt to save a few bucks and purchase a refurbished ATM instead of a brand new one, that allows you to profit quicker. Before you can profit off of your ATM transactions, you have to first make your return on investment (ROI). The smaller your investment, the quicker you can pay yourself back, and the quicker you can start making a profit.

The quicker you start making a profit, the more time you will spend profiting from your business. Say you purchase a brand new ATM for $3,000. You average 180 transactions a month at $2.50 each. You won’t start making a profit for about 7 months. So in a year, you have 5 profitable months.

On the other hand, if you only invest $2,000 in your machine, you start profiting in about 4 months allowing you to profit the other 8 months of the year. So not only do you invest less, but you also make more.

3. Long Lifespan

When we talk about refurbished ATM machines, we aren’t necessarily talking about 10-year-old machines. While you could get five good years out of that machine, you could also find a refurbished machine that is only a couple of years old. Even a 7-year-old machine has about 8 years of life left.

With an average lifespan of about 15 years, there’s still a lot of profit to be made from many refurbished machines. Just remember to check the age before purchasing.

4. Ready to Use

Most new ATMs are shipped directly from the factory. That means they need to be programmed during installation before they are ready to use. Refurbished machines, however, can often be programmed before they are shipped.

Purchasing a pre-programmed machine saves you time and potentially money if you don’t have to pay someone on-site to program your machine. And again, the sooner your machine is operational, the sooner you can start making money!

Plus, since refurbished equipment has already been in circulation, you’ll be equipped with plenty of reviews so you have a better idea of what to expect from your equipment. And in most cases you don’t even sacrifice product guarantees, warranties, upgrades, or customer service; these typically follow the equipment whether new or used. So you get the same support either way.

5. Environmentally Conscious

This may or may not matter to you, but it does make a compelling case for purchasing refurbished. Let’s consider what “refurbished” means:

Refurbished means the equipment is cleaned, polished, repaired, and upgraded. It gets a second, third, fourth life. Without these chances, a discarded machine gets sent to a landfill which is harmful to the environment. The more we can extend the life of electronic equipment such as ATM machines, the less waste and pollution we create. 

Just because a machine is used does not mean it isn’t fully-functional. So the more we can refurbish and reuse equipment, the less demand there is for brand new equipment to be manufactured. We must produce less to pollute less. 

The United States alone is responsible for 14% (63 million tons) of the world’s electronic waste. Only about 20% of electronics are recycled. So by purchasing refurbished equipment, you help cut down on the 80% of waste created by new equipment. When you purchase refurbished equipment, you fight back against consumer culture focusing on “need to have” versus “nice to have.”

5 Things to Look For When Purchasing Refurbished ATM Machines

1. Compliance

Depending on the age of the equipment and the quality of the refurbishment, a used ATM machine might not automatically meet current compliance standards. So before you commit to purchasing a refurbished machine, you need to check for the following: 

Is it upgradable? Does it have a headphone jack? Is the highest touchpoint less than 4’ 8”? Is it EMV enabled or can a kit be installed? 

Some machines are just too old to be upgraded. Others are too costly. The Triton 9100, for example, needs a new keyboard before an EMV kit can be installed. Therefore, it is too expensive to make compliant. After calculating the cost of the keyboard and kit, you might as well just purchase a new machine. 

Similarly, the Cress/Tranax MB210 is so old that no upgrade is available. This hurts ATM operation, ability to keep up in the market, and essentially your ATM business as a whole.

2. Age

Think twice before purchasing a machine over 10 years old. Since most machines work well for about 15 years, the closer your machine is to that mark the less life you can expect to get from it. 

Furthermore, check the ATM version to make sure it’s upgradable. Without upgrades, your service will suffer. If the manufactured date is before 2012, it will probably need an ADA upgrade. But funding this will likely counteract any savings on the machine itself. 

And of course, before you purchase a machine, make sure it works. Calculate repair costs and make sure you are still getting a good deal after it’s all said and done. 

3. Discontinued Models

You can find crazy deals on machines that no longer function on ATM networks. They’ve been discontinued and are only valuable for parts. Don’t get taken by surprise. You don’t want to purchase a machine just to find out that it doesn’t work with your provider.

Examples of discontinued ATM machines include the Triton 9600, Triton 9700, WRG Apollo, and WRG Genesis. If you come across or have experience with any of these, ATMDepot.com provides recommendations for similar replacement machines.

4. Refurbishment Quality

Not all used ATM machines are advertised as refurbished, so inquire before you buy. You also want to check the quality of the refurbishment. A quick, poor, “blow and go” job will end up costing you more money down the line on repairs and maintenance that should have been taken care of during the refurbishment.

A certified refurbishment, by definition, should include specific standards checks, detailing, and upgrades. Decals should be replaced, the newest software installed, and security updated.

A well-refurbished ATM machine can and should last at least 10 years. But a bad refurbishment can end up costing you more in the long run than a new machine.

5. Availability

It isn’t wise to go into the market for a refurbished machine with a specific make and model in mind. Unless you have time to wait, refurbished machines are sold based on availability, so you have to be willing to compromise and choose from what’s in stock.

Should You Purchase Refurbished ATM Machines?

Now that you know what to expect from new vs. refurbished ATM machines, hopefully you have a better idea of what ATM equipment is best for you. 

What it really comes down to is experience. If you’ve been in the ATM business for a while, know your way around a machine, and are looking to add more ATMs to your business, there’s absolutely nothing wrong with purchasing a certified refurbished ATM machine.

If you are a first-time ATM owner, it might be a better idea to purchase new. It’s going to be easier to use and you’ll get to experience the best and newest technology so that you can learn a little bit more about what you can expect from a typical machine. Here you can check out our new and refurbished ATM machines. If you have any questions, feel free to contact us! Remember, each ATM business looks a little different. We can help you find what works for you.