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How to find the best all-around deal when looking to buy a new ATM

Updated on May 4, 2013

Tips on how to select an ATM supplier

It is often frustrating to sift through all of the online content to find the best all-around deal on a new ATM taking when taking into consideration both price and service. There are a number of websites out there that list ATMs for sale but not all sellers are forthright with some of the important details you probably want to know.

For example, you might see an ad for a Genmega 1900 ATM machine listed at $1715, but then realize once you add the cash cassette the price jumps up $150 to $1865. All of a sudden, that’s not such a good deal afterall when you compare apples to apples. You gotta have the cash cassette to operate an ATM.

And what about installation? Not every seller of ATMs offers nationwide deployment services in the continental United States.

So how do you pour through these sites and rule out the duds from the good deals? This step-by-step buyer’s guide will help you do just that:

Ask yourself these questions when you compare ATM offers:

1. How can I make sure I compare apples to apples?

Make sure you take into consideration the cash cassette, lock (dial or electronic), topper sign, shipping costs and install costs.

The cost of a new ATM will likely depend on whether or not you do ATM transactions processing with the ATM seller so be sure to ask about this when you compare. Sometimes, companies that sell ATMs will offer discounts on new ATM purchases if merchants do processing with them. And if you also do bankcard processing with the same company, you can probably get even lower prices.

2. Who will process the ATM transactions?

When people withdrawal money from an ATM, the card holder’s bank account must authorize and settle the transaction. This is done through global ATM networks and service is provided by ATM processing companies. You gotta have processing to operate an ATM.

It is typically easier to get processing from the same company you buy the ATM from for a smoother setup process. Try to avoid buying an ATM from one party and getting processing for another party.

3. Who will install the ATM?

Not all sellers of ATMs can offer nationwide installation services.

Install can be a DIY project if you are up to the task of drilling heavy duty lag bolts into concrete or ceramic tile and have the right drill at hand.

A few good ATM companies offer processing and install as part of the package – these are probably the best options available. Be sure to ask about install when comparing vendors.

4. Who will provide on-call phone support for programming issues?

Who will provide support when you get a bill jam on Saturday night? Who is going to help if there is an ATM dispute over cash dispensed? Make sure that the company you buy an ATM from provides adequate support and will be there to help settle issues when you need them. This is important when finding the best all-around deal.

5. What ATM machine to buy?

Unless you are a credit union or something, it’s probably best to go with a standalone ATM – they are cheaper and less expensive to install.

Genmega and Hyosung are the two main manufacturers of standalone ATMs in the UThe Genmega 1900 series is typically the lowest priced standalone ATM

Make sure you account for the cash cassette, lock, integrated topper, and shipping because all are necessary just to get your machine up and running.

6. What about power and connectivity?

You will need 110V AC power from a nearby outlet or extension cord and either a phone line for dial-up or Ethernet cable for TCP/IP processing. Of if you don’t want to pay for a second phone line or don’t have Internet near the location then you can use wireless. Ask the ATM company if they can offer wireless service and how much it costs. You will want to compare the cost of wireless and watch out for both set up fees and recurring monthly service fees.

7. What should you set the surcharge fee at?

When you own your own ATM you can set the surcharge fee at whatever you want. The average in the industry is probably between $2 and $3 for every withdrawal but be sure to check out what other ATMs in the area are charging. If all the other ATMs are at $3.50 then you can either match the same fee or lower it a little to try and attract more transactions. It really comes down to supply and demand economics and what getting cash is worth to someone at that location at that time.

8. Who is going to load the ATM?

If you are buying an ATM then you should most likely plan on loading it yourself or finding someone trustworthy to load it for you. Or if you have a super busy location, you can get an ATM cash loading service. Ask the ATM companies you compare if they can offer nationwide armored carrier cash loading services.

9. What about insurance?

Separate ATM insurance is not necessary but it is a good idea to add the ATM to your general business liability insurance policy that covers your store.

10. What about buying an ATM sign?

ATM signs are proven to drive more traffic and transactions to the ATM, especially for 24 hour convenience stores. When comparing ATM companies, ask them about what signs are available and how much they cost.


Hopefully this Hub will help you better understand what to consider when if you want to buy an ATM. If you like our content, please share or leave a comment.

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