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Is an ATM Business Still a Profitable Business in 2024?

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If you want to start a profitable business in 2024, you might want to consider looking into an ATM business. But how do you define “profitable” and how much profit do you want to make? An ATM business won’t get you rich, but it is a safe investment that can generate revenue immediately and turn a profit quickly. 

With the increase in digital forms of payment, you might be concerned that cash will soon become obsolete and therefore ATM machines. Although Americans are using cash less, we are still very far from getting rid of it altogether. 

So yes. An ATM business is still a profitable business in 2024. Here, we’ll tell you what that looks like. 

What Does It Mean to Be a Profitable Business?

A profitable business makes more than it spends. The money that a business generates is its revenue. What’s left over after startup and operational costs are covered is profit. 

There is typically a relatively high degree of risk when starting a business because of the high startup and operational costs. The business has to see enough customers, retain enough clients, make enough sales, etc. to justify those costs. Otherwise, the business costs more to operate than it makes, it doesn’t generate profit, and it fails.

Because of its low startup and operational costs, an ATM business is a lot less risky. It’s actually very difficult to lose money with an ATM machine.  

How Is an ATM Business a Profitable Business?

How an ATM Business Generates Revenue

An ATM business generates most of its revenue from the surcharge fee imposed on transactions made on the machine. Most of the ATM machines you see on a daily basis charge about $3.00 per cash withdrawal. 

The most basic way to calculate your profit is to multiply your surcharge fee by the number of transactions you expect to see in a day. For example, $3.00 times 5 customers equals $15. Multiply that by the number of days your machine is available to the public to estimate weekly, monthly, and even yearly totals.

Now, if you consider that an ATM machine plus the vault cash is around $3,000-$4,000, you’ll have that paid off plus more in the first year with the above numbers. So yes, an ATM business is a profitable business. It is very easy to make your return on investment (ROI) very quickly and therefore begin to profit.

Other Ways to Profit from an ATM Business

While you won’t get rich with an ATM business, there are other benefits an ATM business offers over other businesses. First, an ATM machine generates income while you sleep (or just do other things). 

When you think of the time and energy involved with running an average business, you might find that the profit doesn’t compensate you enough for the non-monetary resources you invest. An ATM business, on the other hand, doesn’t require your physical presence all of the time. 

This allows you to spend your time doing other things, whether it’s enjoying your free time, working another gig, traveling, or spending time with friends and family. These can be considered profits, too, which many other businesses don’t offer.

Second, there are many headaches you don’t have to handle with an ATM business. You don’t have to manage employees, rent an office or lease or purchase property, or even wake up early! You can monitor and manage your ATM business all by yourself if you want to, with an app on your phone, from the comfort of your home.

And, you can scale if you want to. Want to see more profit than you’re getting from one machine? Place another! With 10-12 machines, you could make the ATM business your full-time job, physically spending only part-time hours away from home. Say goodbye to job interviews, job security stress, bosses, coworkers, dress codes, and the rest!

Better Investment Than a Savings Account

Like we said before, it’s hard to lose money with an ATM business. You probably already have $3,000-$4,000 in a savings account at the bank. As of January 2024, the national average yield for savings accounts is 0.58 percent APY. 

That money, sitting there doing nothing will earn maybe $20 in a year in interest. Do you think you could get at least 7 ATM transactions in a year? We think you can! Investing in an ATM business will yield you more than the money you have sitting in your savings account at the bank right now.

Will Cash Soon Become Obsolete?

This might all sound great, but how long will it last? Take it from us: cash will not become obsolete in our lifetime. There are still way too many industries, businesses, and individuals that depend on it. Just because we are seeing less cash payments does not mean cash is irrelevant. It just means there are more payment options today for consumers. 

It makes sense that there are less cash payments today than there were in the ’50s and ’60s when credit and debit cards just hit the market. Today, in addition to cash and plastic, money transfer apps and an entirely new form of currency—cryptocurrency—have been added to the arena. But that doesn’t mean that we don’t still need cash.

There are a number of situations where cash is better than card. There are still several types of businesses that operate on a cash-only basis. And, good news for the ATM industry, there are even more businesses that would prefer to switch to cash only if it meant they wouldn’t lose customers.

According to the Pew Research Center, over half of Americans try to keep at least some cash on them at all times. And cash is still the most common form of payment for unbanked and low-income individuals.

In short, although cash is used less today than ever before, it is still relevant. And as long as there is a need for cash in our society, there will be a need for ATMs. Which means that an ATM business is still a profitable business in 2024!

Reasons Why an ATM Business is Still a Profitable Business in 2024 

An ATM business is still a profitable business in 2024 because people still need cash. Where there is a market, there is an opportunity. All you have to do is find a gap in that market, offer a needed service, and reap the rewards. 

It only takes a few thousand dollars to get started, significantly less than other businesses. And your ATM makes you passive income—you can be making money while you sleep! If you already have the money sitting idly in a savings account, you might as well put it to work for you!

Will an ATM business buy you a Lamborghini? No. But it could help you fund a vacation, spend more time with friends and family, or replace your 9-5 if you want it to. 

If you’re ready to get started in the ATM industry, get your ATM start-up kit today! If you still have more questions about how to own and operate your own ATM machine, check out ATMDepot Academy, your ATM business road map to generating a steady flow of passive income. 

ATM Routes for Sale: Pros and Cons

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Purchasing ATM routes for sale is one of a few ways to make money with an ATM business. Whether you are thinking about Starting an ATM Business or you’ve already started with one or more machines of your own, you might wonder if purchasing an ATM route is a viable option for you.

Like we say all of the time, no two ATM businesses look the same. Your business should be curated to fit your specific budget and goals. There is more than one way to be successful in the ATM industry. ATM routes for sale might be one way for you, or it might not. How will you know? Keep reading to find out some pros and cons of purchasing an ATM route. We’ll explain what the process typically looks like and share our personal recommendation.

Pros of ATM Routes for Sale

Make Passive Income

One of the biggest benefits of an ATM business is the potential to make relatively passive income, regardless of how you start. Passive income means that your ATM machines make money while you sleep, travel, work another job, etc. So you are making money on each transaction made on your machines without having to be there.

But, the more time and effort you spend maintaining your machines, the less passive that income becomes. So when we say “relatively passive,” we mean that it depends on your level of experience, the number of machines on your route, and the number of operational tasks you outsource.

The more machines you have, the more work you will need to invest in your ATM business. However, you will still probably work the same if not less hours than a typical 9-5. Plus, you get to be your own boss, and you have the opportunity to replace or exceed your current 9-5 salary.

Low Overhead/Low Expenses

Purchasing an ATM route for sale will require a large initial investment (more on this later). But this cost and others associated with the business are much less than other business models. For example, you don’t need to purchase, lease, or rent real estate for a storefront. You don’t have to spend time and money on online ads and other marketing. And you don’t have to pay many (if any) employees. 

Once you make the initial investment in an ATM route and vault cash, costs after that are limited. The most essential are travel, maintenance (cleaning supplies, receipt paper, tech support if applicable, and revenue share with the location owner and any other third-party services you might use. 

Your biggest expense will be the one-time initial investment. After that, any costs associated with improving your machines and your business are fairly low, can be added at any time, and can be budgeted as your revenue steadies or increases. 

Simple Process

Buying an ATM route is the easiest way to start an ATM business. All you have to do is search for an ATM route for sale, pay the seller, and take over the operation of all of the machines on the route. 

These machines are already installed, have contracts in place, and some even include training. This removes a lot of the work associated with finding your own locations, purchasing equipment, and installing the machines.

Avoid Negotiating Locations

Negotiating locations is one of the biggest hurdles among independent ATM deployers (IADs). Although there are many strategies for simplifying and perfecting this process, purchasing an ATM route eliminates this task. Rather than spend your time approaching businesses to negotiate a placement, you can purchase a route of ATMs that are already established.

This can translate into more passive revenue and profit because you don’t have to pay yourself for the time it takes to travel to various locations, make and attend meetings, and negotiate with location owners. With that work already done, you can start making money sooner by purchasing an established ATM route.

Cons of ATM Routes for Sale

Expectation vs. Reality

It’s important to realistically manage your expectations when it comes to purchasing an ATM route. There are professionals and sellers who will make big promises (hundreds of thousands of dollars a year!) that might not be realistic for everyone. 

Yes, some investors make hundreds of thousands of dollars a year with a large fleet of ATM machines (100+). But this requires a large initial investment, a lot of time and effort, and experience. You might consider purchasing an ATM route that makes $40k/year, but unless you have the experience necessary to keep those machines operational and maintain those merchant relationships, you risk making a lot less.

Dishonest Sellers

Most ATM routes for sale will provide an estimated yearly earning amount. This way you can weigh your investment against the potential return. However, this number is contingent upon the seller’s honesty. One of the downfalls of purchasing an established ATM route is that you don’t get the chance to vet the locations or choose merchants you want to work with. 

Sellers will omit any negative details about the locations. Sure, most sellers want to make a bigger profit off of their established route, but others are struggling to make a profit and need out. Maybe they are just inexperienced. Or maybe the locations don’t perform well, the contracts weren’t fairly drafted, or the merchants are difficult to work with. All of these factors will be out of your control when you purchase an established route. 

You also want to inquire about the contract lengths. There is little sense in buying an ATM location with only one year left on the agreement because if the merchant decides not to renew the contract, that one year might not be enough to earn back your initial investment. So make sure the seller is honest about how long the locations are guaranteed for.

Lose Money

While an ATM route does have the potential to earn you A LOT of money, there is also the risk of losing money. This is especially true if you are new to the ATM business and are inexperienced. Unless you know how to keep the machines operational, monitor trends by analyzing the journal, and work with merchants and other vendors, you could lose money. 

ATM machines don’t make money while they aren’t functional. Machines lose out on transactions and revenue if the surcharge fee isn’t competitive and strategically set. Merchants can void or fail to renew contracts if you don’t show them the benefit of working with you.

So an ATM route of 10 machines making $50k a year could end up being a lot less if you aren’t able to keep the machines operational and the merchants satisfied.

Lots of Work

The bigger the ATM route, the more money you can make. However, the more machines you operate, the more work you will have to do. Maintaining a route of 50-100 or more machines can turn into a full-time job. So unless you want to replace your current full-time job with an ATM route, you might be better off making supplemental income with up to 10 machines for just a few hours a week.

You also want to consider distance. How far will you have to travel to the farthest machine on the route? Or, how far apart are the locations on the route? A route in a concentrated area or zip code will be much easier to manage than a route spread out across the state. So think about travel time and costs when checking out routes, too.

There are a few things you need to do to keep your machines up and running. You have to monitor and analyze the activity on each machine to make sure it never runs out of cash. You have to travel to each machine to stock it with cash (unless you outsource the vaulting). And you have to address any bugs, outages, error codes, or damages. 

Multiply this work by the number of machines in the route you want to buy. Weigh your potential earnings against the time you will spend on the business to see if it will be worth it for you.  

How to Find ATM Routes for Sale

All it takes is a simple internet search to find listings in your area. You can search “ATM routes for sale + zip code” or expand your search to include a whole city. It just depends on how far you are willing to travel.

You can also sometimes find sellers in ATM Facebook groups and communities. You might have seen some already and wondered what a route entails and why someone would sell. Usually the poster will explain, but again, you have to rely on their honesty or do your own research to verify the details.

How Much Do ATM Routes Cost?

This is a difficult question to answer definitively since numbers and factors vary widely. However, here are a few examples based on recent listings on BizQuest:

There is a listing in Kansas City, Missouri asking $50,000 for 18 locations making around $30,000 a year. In Texas, there is a route of 11 high-end locations making $30,000 a year in Austin and a larger route of 110 ATMs making $477,000 a year for $1.5 million. And in Los Angeles, California, you could purchase a route of 5 ATMs for $90,000 with an estimated cash flow of $35,000 a year.

Add to these numbers, though, the amount of cash needed to vault the machines. If you vault with your own money, you will need to factor the amount of vault cash into your investment total. The exact amount will depend on the transaction volume of each machine. The seller should be able to provide you with a specific number. 

Should You Buy an ATM Route?

When it comes to the question of should you buy an ATM route, it can only be answered by you. Only you know your budget, your time, and your goals when it comes to operating an ATM business. 

However, based on the risks involved with purchasing an ATM route, we recommend doing this as a way to scale your business rather than starting out this way. It is better to find your own locations, purchase your own equipment, and learn the business inside and out before venturing into existing ATM routes.

The less you know about the ATM machines and the business, the more mistakes you are prone to make. It’s better to make your mistakes on a small scale with a few machines than on a large route. Yes, there are smaller routes available; there is a route of 5 currently available in Los Angeles. But you still need enough experience to be able to confidently maintain those machines and those contracts. There are so many more unknowns when buying an existing route than there are when you find your own locations.

Once you get comfortable with your own machine(s), then you can look into purchasing an ATM route to scale your business. But we’ll let you in on a little secret: It is more profitable for you to build your own route and then sell it than it is to purchase someone else’s!

If you can get a good deal on a route and good locations, there is definitely money to be made. But buying an ATM route as a beginner will end up costing you more than just starting from scratch. If you’d like to learn more about starting your own ATM business, find out more at ATMDepot.com and get your ATM Start-Up Kit today!

ATM Keypad Encryption PCI Compliance Updates – Upgrades Due by January 1, 2025

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PCI Compliance: Best Practices for Enhanced Security

Digital transactions have undoubtedly transformed how we interact with our finances. ATMs play a vital role in facilitating these transactions, offering convenience and accessibility to users worldwide. However, with the increasing prevalence of cyber threats, ATM providers and financial institutions must prioritize security measures.

This article will explore the upcoming mandatory ATM keyboard PCI compliance that will take effect on January 1, 2025.

Understanding PCI Compliance:

The Payment Card Industry Security Standards Council (PCI) is the unified governing body of ATM networks. They are a self-policing group that comes up with the rules that ATMs, credit card terminals, and processors must abide by in the United States.

What is the ATM Keyboard PCI Compliance?

Intending to keep ATM processors and users safe, the PCI Security Standards Council (PCI SSC) has released new mandates for ATM PIN pads and data encryption. The latest update states that by December 31, 2024, all terminals that have the potential to be upgraded to the latest version of encrypting pin pad (EPP) must undergo the necessary upgrades. Any and all terminals that are not eligible for upgrades will need to be replaced entirely.

Starting January 1, 2025, operational ATMs must have up-to-date firmware and software utilizing the TR31 Phase 3 key blocks. These key block encryption measures have been implemented to enhance the security of PINs and data transmitted through ATMs and payment network infrastructure. The strengthened security measures aim to safeguard the cryptographic integrity of payment data, making it significantly more challenging for hackers to exploit vulnerabilities.

After the specified deadline, machines not equipped with the latest pin pads and key blocks will no longer receive support from host processors. Consequently, the networks will not accept any attempted transactions on these ATMs, rendering the machines non-operational. In other words, your ATM will be turned off if you do not have the updated firmware or keypads to support this new compliance standard.

What does this mean for current and future IADs (Independent ATM Deployers)?

For current IADs, we strongly advise upgrading your ATMs as soon as possible in the upcoming months and not waiting until the end of 2024.  We see this happen anytime there are mandatory updates and parts become scarce and more expensive, field technicians get busier, and you may miss the deadline and have your ATM shut off until you complete the update. If you have a Hyosung, Genmega, Hantle, or Triton ATM and want to can if your ATM model has an upgrade available, you can download this compliance and upgrade paths pdf.

If you are just starting in the ATM business and considering a used machine, be mindful of this new requirement. For example, if you see a good deal on a used Hyosung 1800CE, looking at the above compliance PDF, you can see the Hyosung 1800CE ATM will need to be replaced by 2025 ss the ATM core is WinCE5.0 and is not PCI  compliant and can’t be upgraded. 

If you wait too long to upgrade, there will be price increases and delays in equipment after October 2024. Schedule your updates by the summer of 2024 so you can be sure of availability. All the PDF ATMs showing “Replace ATM” are boat anchors in 2025. 

All the Hyosung ATMs in this compliant Hyosung ATMs PDF show which ATMs will need to be replaced, so don’t buy any used or refurbished Hyosung ATMs listed in this document where it says “Replace ATM?” = Yes!

So, this is a huge warning to all retailers and IADs, be careful who you buy ATMs from and what they did to refurbish them if anything. Used machines have to be cleaned, and tested, have parts replaced, have software reset to factory defaults, include keys and passwords, and be PCI compliant so they can be properly programmed for installation and use after 2025.

Although January 1, 2025 feels like it’s way out in the future, please do not delay updating your ATM. Our CEO has been in the ATM business for over 30 years and our parent company Intelligent e-Commerce, Inc. has been around for almost as long.

We have seen our fair share of ATM security updates including Triple Des & EMV as well as other changes including new ADA guidelines and software sunsets like Windows XP and so on.

We know from decades of experience that updating ATMs early can save you money, time, and headaches as people wait, parts and services become scares and wait times grow longer.  If you wait until the middle or end of 2024 or you hope that an extension will be forthcoming, our experience has proven the upgrade kits will be more expensive. It will also mean technicians will be swamped and you may not get your ATM upgraded before the deadline and it would be turned off.

We can not stress how important this update is. Please check the links above and see if your ATM requires an update. If it does, we urge you to call us soon. 

If you want to make sure the machine you are buying is PCI compliant, please check out our line of brand-new future-proof ATM Machines.

Easter Money: 9 Ways to Use Cash During Easter

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Easter money is an American necessity with the average household projected to spend $200 for a record collective high of $24 billion. Easter is coming up, and with it candy, food, gifts, clothing, and decorations. 

There are a variety of payment methods that can be used to purchase items in these top 5 categories of planned purchases. But cash definitely has its place at Easter time. 

Many kids and young people will be expecting goodies, gifts, and treats. Why? In this article, we will explore the history of this holiday, its traditions, and how you can benefit from using cash for Easter money this year.

The Origins of Easter Money

Easter is a Christian holiday that celebrates Jesus’s resurrection from the dead. However, many Easter traditions are not found in the Bible and likely have pagan origins. While historians only speculate about what Easter eggs, Easter baskets, and the Easter bunny represent, the theme of new life remains constant.

Easter Eggs, Easter Baskets, and the Easter Bunny

Easter, a Spring Equinox holiday, is a time to celebrate new life. Eostre was the Germanic goddess of fertility who blessed harvests. Carrying baskets of offerings to her ensured that harvests were successful. This is one potential explanation for the iconic Easter basket. 

Eostre’s animal symbol is a rabbit. This “Easter bunny” would be responsible for secretly bringing gifts and treats to children on the evening before Easter.

According to some sources, German immigrants to America brought with them the lore of “Osterhase” or “Oschter Haws,” an egg-laying hare. Children would construct nests (later to be replaced by decorated baskets) for the hare to lay its eggs. Rabbits are notoriously known to be prolific breeders—a sign of new life and fertility—which is another possible explanation for the rabbit as a symbol of Easter. 

Eggs can represent fertility, new life, and even Jesus’s emergence from the tomb. But some sources say that eggs were a forbidden food during the Lenten season. Decorating them was a way to mark the end of the fasting period. Then, they would be eaten in celebration.

Easter Coins and Easter Money

So, that explains the Easter basket, the Easter bunny, and Easter eggs. But what about Easter money?

You might remember opening eggs on Easter and finding coins inside, whether gold foil-wrapped chocolate coins or quarters and nickels. This tradition likely has its origin in 13th century England when royalty would give food, clothes, and coins to the poor on the Thursday before Easter Sunday. They would also wash the feet of the poor.

Feet washing, clothing, and food were replaced in the 18th century by a set allowance. Still known as Royal Maundy today, the tradition has evolved to include coins minted specifically for the occasion, known as Maundy Money. Recipients include elderly men and women chosen for the Christian service they have given to their Church and community.

Now, in the U.S., we fill our kids’ Easter eggs and baskets with chocolate coins, real coins, and even cash….  

Easter Money: 9 Ways to Use Cash During Easter

In short, Easter is a time for Christians to celebrate the resurrection of Christ and a time for everyone to get together for a special meal and other family traditions. Most families are projected to spend around $200 this year on Easter goodies. But there are some Easter traditions that just work better with cash.

1. Easter Eggs

Putting coins and small amounts of cash in Easter eggs is a nice alternative to sweets and candies. According to 90% of consumers, candy is the top planned Easter purchase this coming year. Why not replace some of that with physical money? Children are excited to comb through and play with shiny coins found in their eggs after their Easter egg hunts. It is also a great way to introduce currency to children at a young age.

2. Piggy Bank

Coins and cash for kids make fun additions to piggy banks. This can help teach kids about saving money. Then, plan with them what the money will be used for when it’s full!

3. Pez Dispensers

For older kids, cash inside of a pez dispenser could be a fun way to gift to the young ones in your life. Just fold it neatly, slide the dispenser up, and put the cash inside. What a nice surprise when they go to insert their candy!

4. Easter Baskets

You can also put cash gifts inside of children’s Easter baskets. There are many creative ways to even decorate baskets with cash and coins! As kids get older, Easter money could serve as a yearly allowance, a tradition for them to look forward to for years to come. College students can benefit from baskets with household supplies, food, treats, and even cash to help them with their expenses.

5. Easter Money-Holder or Card

Just as you might do for a birthday, you can always just give cash in a card rather than in eggs or baskets. This could be a nice addition to an Easter egg hunt for younger children or as an alternative for older kids. It’s also a good way to make sure everyone gets a fair amount instead of their Easter “payout” depending on the number of eggs they find.

6. Easter Bunny Money

Believe it or not, there is actual, official US currency with the Easter bunny on it. You can order $1 or $2 bills that are official, bankable, and spendable. Each USD bank note is a genuine authentic United States currency legal tender featuring a bunny portrait seal placed over the front of the bill covering the portrait of the president and creating an Easter Bunny Dollar Bill. 

You can also print your own, non-legal tender Easter bunny bills. This could be a good alternative as a toy for younger kids or to even help teach them about money and budgeting. Either way, Easter bunny money makes cute Easter egg, basket, or card fillers. 

7. Easter Money Origami

If you’d rather not spend extra money on Easter bunny money, you can make your own creative Easter bunnies by folding average bills into origami. You can make a full bunny or just a face and ears to add googly eyes to. Then put them inside eggs or toss them individually into a basket!

8. Easter Money Bouquet

If you are feeling really creative, you can make an Easter money bouquet for friends or loved ones. You can purchase them already made, or you can make your own! These can also make good donations for causes you’d like to support around the Easter holiday.

9. Church Collection

Last but not least, you can use cash at Easter time to offer a financial contribution to your local ministry. Easter is one of the most highly attended church days (along with Christmas Eve and Mother’s Day). 

According to Thom S. Rainer, this spike is likely due to high numbers of active and inactive patrons appearing at the same time on the same day. Those who do not attend church regularly will typically at least try to attend once a year at Easter. This is a good opportunity for local churches and other ministries to raise money through a collection, bake sale, or other donation-driven cause.

Allowing children to contribute cash to church collections and other donation areas helps teach them not only about the value of a dollar but also about charity, giving back, and sharing. 

Easter Money and Cash are King

We hope you noticed that each Easter money example above would not be the same if replaced by plastic. Cash is still very much a part of our history, our traditions, and our children’s lives. It is great for gifts, charity, and even teaching purposes. 

This Easter, try to get creative with cash! Can you think of other ideas not listed here? Since cash is so versatile, we’d be surprised if you couldn’t think of more ways to use cash for Easter money this year. Interested in making cash work for you? If you’d like to make passive income from owning your own ATM machine, check us out today!

Positively What to Know When Buying an ATM Machine

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Wondering positively what to know when buying an ATM machine? There are a lot of factors to consider. First of all, should you buy an ATM machine? To answer this question, you might need to know how to buy an ATM and make money. 

Here’s what to know when buying an ATM machine:

What ATM machine should I buy? 

Where can I buy an ATM machine?

How much does it cost to buy an ATM machine?

Should I buy an ATM machine for my business?

How do I buy an ATM machine?

In this article, we will answer these questions and tell you what to know when buying an ATM machine.

What to Know When Buying an ATM Machine

Before we get into some of the most common questions about buying an ATM, let’s talk about what an ATM machine could mean for you. ATM machines provide customers with convenient access to cash and their accounts. As the owner of an ATM machine, you receive 

What ATM Machine to Buy

The best ATM brands on the market in terms of durability and reliability are Hyosung, Genmega, Hantle, and Triton. However, in addition to the manufacturer, you also want to consider what type of ATM machine you want to buy. 

The most common type of ATM machine is free-standing. These are the types of ATM machines you see in convenience and grocery stores. They are easy to install and easy to move. 

Through-the-wall (TTW) ATM machines are more commonly found in office buildings where the machine can protrude into a separate, secure room. These machines are bulkier, but more secure since you can load and unload the machine behind locked doors.

Wall mount ATM machines are the smallest type of ATM. They are ideal for locations where space is minimal or where there is low traffic. Since wall mount ATM machines (they can also sit atop a table or counter) are smaller, they hold less cash. So they aren’t ideal for busy, high-traffic areas.

Finally, you need to decide whether you want a new, used, or refurbished ATM machine. Each of them have their pros and cons. 

New machines are shiny and attractive. However, they do cost more. So you have to decide if “shiny and new” is worth the extra cost. Typically, new machines are recommended for first-time ATM owners because you don’t want to add mechanical issues to the list of other aspects of the business you’ll be learning along the way.

Used machines can be cheaper, but they can be problematic if they aren’t properly refurbished. If you are considering a used, refurbished ATM machine, make sure it is “certified refurbished”. This means that any ATM damage is addressed rather than it simply being cleaned and polished.

For more information, check out our ATM Buyer’s Guide.

Where to Buy an ATM Machine

You can buy as many ATM machines as you want. But without ATM processing, you won’t be able to connect them to the network that communicates with users’ banks. An ATM machine without processing capabilities is basically useless. 

So, since you have to work with an ATM processing company anyway, it makes sense to buy an ATM machine from them as well. This simplifies the process by only having to do business with one company instead of multiple. The ATM processing company will also be able to provide you with better, more specific support for the machines they stock. 

Not all ATM processing companies sell ATM equipment, but a lot do. So where else can you buy an ATM machine?

A simple internet search will result in lists of ATM processing companies and ATM wholesalers. But you can also find machines on auction sites like eBay, on Craigslist, and even on Amazon. 

However, make sure you don’t compromise quality for what seems like a good deal. Used machines can be slow or damaged, refurbishments could be shoddy, and older machines can be out of compliance.

How Much Does it Cost to Buy an ATM Machine

ATM machines can cost anywhere from $1,500 to $8,000. However, most free standing ATM machines are about $1,500 to $3,000. Cost depends on size and age. Larger and newer machines cost more. You can find used and refurbished ATM machines for a little cheaper, around $1,500 to $2,000. 

However, you have to consider additional costs as well. Is the discount on a used machine really a discount if you have to pay for updates, upgrades, and repairs? 

You also have a number of options when it comes to additional features. Do you want a larger screen? A topper to run ads? A lighted keypad? You will have to budget for these items as well when calculating your ATM machine purchase budget.

Buying an ATM Machine for your Business

If you are wondering what to know when buying an ATM machine, then you either want to place your ATM machine in someone else’s business or you want to add one to your own existing business. There are a few benefits of buying an ATM machine for your business. 

First of all, the additional service brings more traffic in and around your business. This increases sales on top of the surcharge income you earn per transaction made on the machine. 

Buying an ATM machine for your business is a good idea if you feel like there is a need for one in your area. If there are other ATM machines nearby, keep in mind that you will be sharing customers and competing with them.

How to Buy an ATM Machine

Again, you can buy an ATM machine from someone besides a processing company. But you won’t be able to generate much income from an inoperable machine. So when you buy an ATM machine from a processing company, they will assume you want to operate it and will therefore require certain documentation.

First, you’ll need to complete an equipment order form. This is where you will indicate the equipment you want and the installer. You will also need to indicate your surcharge rate and the denominations your ATM will dispense. 

You will also need to provide an ACH form so that the revenue generated from your machine can be deposited into your bank account. Be prepared to provide a voided business check to verify the legitimacy of your designated bank account. And since you will be generating income from your ATM machine, you will have to submit a completed W-9 form for tax purposes. 

To confirm your identity, your driver’s license will be required as well as a background check since there are restrictions on who can legally operate an ATM machine. Furthermore, an ATM Operator Agreement and application tells banking partners who they are working with and ensures all federal regulations are met. 

And finally is the ATM processing agreement. This serves as the legal contract between you and the ATM processor that runs your ATM machine program. It lists and describes the responsibilities and obligations of both parties. 

As far as paying for the ATM equipment, you have a few options. The best option is to pay for the equipment in full, that way you don’t accrue any interest and end up paying more. However, you do have some financing options. You can make your purchase with a credit card, take out a loan, or apply for financing.

Positively What to Know When Buying an ATM Machine: A Recap

Now that we’ve answered the what, where, how, and how much questions circling the ATM buying process, you have some decisions to make. What type of ATM machine will you buy? Where will you get it from? How will you pay for it?

At ATMDepot.com, the process is simple. We offer special sales, upgrades and flexible payment options. You also avoid monthly fees, statement fees, and processing fees when you process with us. If you order your machine from ATMDepot.com, you get free shipping, an added cost when purchasing from other sellers. Still have questions? Or are you just ready to get started? Either way, contact us today!