IS IT BETTER TO OWN OR USE FREE PLACEMENT ATMS?
Both owning an ATM machine or taking advantage of Free ATM Placements have their advantages within your business. Either way, did you know that roughly 75% of ATM cash withdrawals are spent in your establishment? And when customers use cash instead of debit or credit cards, you do not incur the service fee associated with them. So, whether you buy an ATM machine or use our free, full-service ATM placement program, the end result is almost always a win.
Depending on your business needs, time, and personal preference, one option may be better than the other.
Questions to Consider About Owning an ATM vs.
Free Placement ATMs
How Much Money Are You Comfortable Investing? –
When owning an ATM, the business owner must purchase the ATM Machine, therefore making an initial, upfront investment. ATM machines vary in price but the average cost for a new machine is roughly $2,500 to $4,500. On top of that, cash is needed on a weekly basis to fill the ATM. The average ATM goes through about $6,000 – $8,000 per month. You should have enough cash flow to keep at least $1,500 in the ATM.
How Much Time Do You Have to Spend? –
Just like anything new in life, one must invest some time in learning how the “new toy” works and operates. Maybe you are the person who loves learning new things and doesn’t mind taking the time, or maybe, you simply don’t have the time nor desire to learn all the ins and outs of the ATM machine. That is a question only you can answer.
Are You Prepared? –
As with any machine- from your car, your home A/C unit, or your computer- maintenance on an ATM is inevitable. From basic yearly maintenance or required ATM software and hardware updates, maintenance time and expense has to be considered if you are planning on buying an ATM machine. And, just like your car, above and beyond maintenance, you may experience the need for an unexpected repair due to a breakdown of some kind. Luckily, ATM machines are very reliable which reduces repair time and cost.
BENEFITS OF OWNING AN ATM MACHINE
If you read through some of the questions above and decided that owning an ATM machine would be the best option for you and your business, here are just a few of the benefits of ownership.
You receive 100% of the ATM Surcharge Revenue (after fees to the ISO).
You decide on ATM placement within your business.
No qualifications for type of business needed or amount of foot traffic required like with ATM placement services.
The ATM is yours and can be considered part of your business (or even an additional business).
BENEFITS OF FREE PLACEMENT ATM MACHINE
If you don’t have the time, or want to spend your valuable hours maintaining an ATM, make the initial purchase investment, or even the worry of upgrading components down the road or having additional cash on hand to stock the machine, our free ATM placement service is the best option you.
Other benefits include:
No upfront costs.
No responsibility (other than supplying power and internet, of course).
Cash for the ATM is filled by us, not you.
You still receive surcharge revenue.
Prime ATM Inc. handles all repairs and maintenance.
BENEFITS OF HAVING AN ATM MACHINE ON SITE
Whether you choose to buy an ATM machine or use Full-Service Free ATM Placement, an on-site ATM is beneficial for most small, medium, or large businesses. Here are just a few benefits of having an ATM in your business.
75% of the money withdrawn from an ATM is spent in the establishment.
Reduce credit and debit card surcharges by having customers pay cash.
Builds foot traffic. People depend on ATMs. Having an ATM onsite can attract additional customers.
25% increase in impulse purchases are made when a customer has cash in hand.