What's The Cheapest ATM Machine in 2024?
The cheapest ATM machines can range from $2,250 – $11,300, with the cheaper option begin a used solution with fewer features.
From determining how much is the cost to rent an ATM machine to the price of owning automatic teller machines, we’ve got the answers.
Having an automatic teller machine in your place of business can certainly be a draw to the public. People are often short on cash and need to pop into the business with the nearest ATM in order to withdraw some money. It can also make purchasing much more convenient for your customers if you have people in your place of business who prefer to use cash for payment. An affordable ATM also makes a good backup in the event that your point of sale system should ever have difficulties processing electronic transactions. For those interested in purchasing a machine outright, the most economical options start at around $2,250 and go up into the mid $10,000s. There are also leasing options available which can make having a cheap ATM in your business considerably more inexpensive.
The security level of an automatic teller machine plays a large part in how much you’re going to pay for it. Essentially, the more secure the machine is against theft or tampering, the more the initial cost of the unit. However, there is an obvious benefit to this increased cost, due to the protection of your asset. Examples of these types of features include:
- Freestanding machines are typically much more affordable than those which mount into a wall
- Outdoor machines are more rugged and more difficult to tamper with, while also being designed to resist bad weather. These units can cost several thousand more than indoor units
- Integrated cameras
- Security lighting
Three Tips to Getting the Cheapest ATM Machines
When seeking the most cost-effective ATM machines for your business or location, it's important to balance upfront costs with long-term operational expenses and reliability. Here are three tips to help you find affordable ATM solutions:
- Lease Instead of Purchase: Leasing an ATM machine can be more cost-effective than purchasing one outright, especially for small businesses or those with limited capital. Leasing typically involves a lower upfront cost and often includes maintenance and support services. This option can be more manageable financially and offers the flexibility to upgrade to newer models as technology advances.
- Consider Buying a Refurbished ATM: Purchasing a refurbished ATM can offer significant savings compared to buying a new one. Refurbished machines are typically used machines that have been restored to a like-new condition. They often come with a warranty and can offer the same functionality as new machines at a fraction of the cost. However, it's important to buy from a reputable supplier to ensure the machine is reliable and meets all the necessary security standards.
- Optimize Transaction Fee Settings: If you own the ATM, setting the right transaction fee is crucial. While the fee should cover your costs and generate profit, setting it too high could deter potential users. Research the standard fees in your area and set a competitive rate. A well-calculated transaction fee can help you recoup your investment faster and sustain profitability.
These tips focus on reducing initial costs and maximizing long-term revenue potential. It's important to consider the total cost of ownership, including maintenance and operation costs, when deciding on the most cost-effective ATM solution for your needs.
What to Look for in Low-Cost ATM Machines?
From used ATM machines for sale to getting the best price for your small business, here’s what you need to know. One of the first things to look at before you invest in an ATM machine is the service agreement between you and the seller. This is important whether you’re buying or leasing.
Buying: Find out exactly how much warranty you are provided, what parts are warrantied, and how long the warranty lasts. Ask about the phone or technical support should you experience technical difficulties with the machine.
Leasing: Ask about the availability of support staff and how quickly they can respond to your needs. The most inexpensive ATM in the world doesn’t do you any good if it is sitting there not working for your customers.
Supplies: Supplies are also important, and how they are provided will depend on the nature of the agreement that you have with your seller. Ideally, you will find the best low-priced options include an agreement for both cash and receipt paper to be provided by the seller. This not only takes some of the worries out of your hands, but it also rolls all of your costs for operating the machine into one easy to understand agreement.
Security Features: Some machines come with additional features to help protect both your customer's banking information and your machine. These include security cameras, extra lighting, and other monitoring features. Any of these that you can opt for while still keeping your price economical are highly recommended.
Bargain ATM Machine Companies with Discounted Prices
When you’re looking for discounted automatic teller machines, your best option is to stay focused on some of the biggest names in the industry. These companies are more likely to occasionally have great deals on low-cost units that can make the purchase affordable for almost anyone.
Nautilus Hyosung: One of the most well-known and trusted names in the ATM business, you can find many entry-level, inexpensive ATMs in this line. If you opt for an entry-level freestanding model, you should be able to enter into the ATM business here for as little as $2510.
GenMega: Another major player, showing that the ATM business is one where you don’t have to buy off-brand in order to find discounted prices. If you’re buying a GenMega model, you should be able to find many different options between the $2530 and $3509 price range.
ATMs shouldn’t be looked upon as an expense but as an investment. As a business owner, when you place an ATM in your location you are creating another revenue stream for yourself, as well as providing added convenience to your customers. This combination along with the relatively low-cost options on the market should show that anyone with a suitable location should give serious thought to getting into the ATM business.