Compare ATM Machine Prices – BUYERS GUIDE 2020
How Much Do ATM Machines Cost?
Once you have an idea of what style ATM you need, you can begin looking at ATM machine prices. To get started, here are some ballpark figures.
- ATM pricing starts around $500 for used and refurbished base model machines
- Average ATM purchase cost runs from $1,150 to $4,000
- New wall-mounted machines can cost between $6,000 and $11,000
- The highest-end models can cost up to $27,000
Cost For ATM Accessories
In addition to the machine, you should take into account the various accessories your machine may need when considering ATM costs. Common ATM accessories and services include:
- Phone lines at $25 to $35 a month
- Cash loading or replenishing services at $40 to $70 a month
- Supplemental cash cassettes at $100 to $500 each (Average cost $200)
- Receipt paper (cost varies)
- Advertising toppers at $50 to $100 per machine
ATM Parts and Replacement Cost
Generally, ATMs do not require much maintenance. However, if your machine does need repairs, here are some average costs you might expect to see.
- Locks – $50 standard or $300 to $400 for deluxe versions
- Cash cassettes – average cost $200 each
- Cassette dispensers – $800 to $1000 each
- Screens – $200 to $300 each
- Main board – $650 to $700 each
- Card readers – $275 to $400 each
- Modem board – average cost $125 each
- Printer assembly – $600 to $700 each
- Keypad – $400 to $500 each
- Power supply – $300 to $500 each
- Wireless box – $275
As you can see, the answer to the question “how much is an ATM?” can vary widely depending on your needs and preferences.
ATM Features and Accessories
When looking at ATM costs and possibilities, it can be interesting to look at some of the machines’ lesser-known features and up-and-coming options. This is particularly true when you consider all of the ways experts predict ATMs may be used in the near future.
Currently, ATMs serve only a few primary purposes.
- Cash withdrawals
- Cash deposits
- Checking account balances
Industry leaders, however, report that many models coming in the near future are expected to be able to handle additional tasks including:
- Loan applications
- Lottery ticket sales
- Dispensing multiple currencies
Increasing the safety and security of ATMs is an industry priority. Already, manufacturers are experimenting with biometric scanners, facial recognition, and other high-tech security options.
Popular ATM Brands and Models
If you’re new to ATMs, you may prefer to start with tried and true makes and models. The top ATM brands include:
Genmega’s top model is the Genmega 2500. It’s a freestanding machine with an 8-inch LCD wide-screen display. Buyers looking to level up a little more can check out the next step up, called the Onyx.
Hantle is known for its Hantle 1700 model. The 1700 is known for its security, reliability, and how easy it is to maintain. It is a certified ADA compliant design.
The Triton Argo is made in America and ideal for very high traffic, high volume areas. It is customizable and durable.
Hyosung is perhaps most known for its Halo and Halo 2 models. These are most notable for the exceptional security features they offer at a low price.
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You can buy ATMs outright for less than $2,200 and up to $15,200 for more functionality and security, then carry the costs of replacing the receipt paper, cash replacements, electricity and phone or data connections. You can also lease a machine, with the leasing company charging a transaction fee from users. Most companies will program, deliver, install, and maintain your ATM free of charge for however long you choose to lease it while they collect the fees.
An Automated Teller Machine, or ATM, is a small terminal that makes it easy to deposit cash or checks, check your bank balance, and withdraw funds. ATMs are often faster and easier than going inside a bank to speak with a teller, and businesses can install on-site ATMs for employee and customer convenience.
Worldwide, there are more than 40 ATMs for every 100,000 adults. With the rise of digital currencies, there has been speculation that ATMs would become a thing of the past. However, industry trends are moving in the opposite direction.
ATMs continue to be in strong demand and excellent economic drivers.
ATMs Remain Increasingly Popular
In 2008, there were just over 27 ATMs per 100,000 adults worldwide. Since then, the number has only continued to rise.
Experts claim that ATMs have not even begun to reach full market saturation. A 2019 survey showed that less than half of Americans believe the country has enough ATMs.
Both consumer and banking trends continue to drive ATMs’ popularity. Improvements in ATM technology and functionality are also opening up new markets for the machines.
Legal trends are supporting the need for cash machines as well. For example, New York City passed a law in January that requires all retailers to accept cash as payment for goods and services.
The Many Benefits of Using Cash
Even amidst ever-expanding mobile pay programs, an increasing number of consumers are rediscovering the benefits of using cash.
Financial experts attribute a wide range of benefits to using cash instead of plastic or digital currencies. What’s more, consumers are listening and agreeing. Consistently using cash instead of other forms of currency means:
- Freedom from credit or debit card fees
- Not paying interest on your purchases
- Lower risk of identity theft
- Simplified budgeting
- More privacy around your purchases and purchasing behaviors
- Still being able to pay when the credit card system is down, or the power is out
- Saving vendors money
It has also been linked to:
- Lower spending and better control of spending
- Weight loss
- Better math skills
- Lower total debt
- Less money stress
- Increased savings
With so many benefits racking up, it’s easy to see why cash won’t be going away any time soon.
What Are the Benefits of Having an ATM on Your Property?
If those are the benefits to consumers, what are the benefits of having an ATM on your property as a business or site owner? Property owners consistently report numerous benefits, with increased traffic, increased sales, and reduced costs are topping the list.
More than 40 percent of ATM users go to an ATM between 8 and 10 times every month. A single machine is used at least 300 times per month on average. High performing machines get used up to 6400 times a month.
These transactions drive traffic to ATM sites. Consumers who prefer cash consistently visit businesses with ATMs instead of their competitors who do not have ATMs on site.
Increased traffic drives increased sales. In convenience stores, for example, ATM users consistently spend 20 to 25 percent more than customers who pay using other methods. This can lead to significant income gains for businesses with ATMs on their premises.
Reduced Costs and Errors
Banks are perhaps best positioned to save money by installing an ATM, but other businesses can see savings as well. This is because ATMs do more than simply spit out cash.
They can be used to check balances, make deposits, recycle cash, and complete other automated tasks. ATMs perform all of these functions without incurring any labor expenses. They also largely eliminate the possibility of human error.
Together, these factors can lead to businesses saving lots of money by installing an ATM.
More Safety for Employees
To some degree, cash handling is inherently dangerous. It brings with it the risk of fraud attempts, theft, and other crimes and violence. ATMs protect employees by taking over potentially dangerous cash-handling tasks.
In addition to creating a safer, happier workplace, this can also lead to financial benefits to employees through reduced insurance rates and other secondary bonuses.
Types of ATMs
Does it sound like buying an ATM might be right for you? If so, you’re likely wondering, “how much does an ATM cost?” The honest answer is that it depends.
Which type of ATM machine you select will play a key role in its price.
ATMs can be freestanding, countertop models, or built-in.
Freestanding ATMs are large units that generally require more than two square feet of floor space each. They are typical in retail outlets such as convenience stores, retail or restaurant franchises, and gas stations.
Countertop ATMs are much smaller. As their name suggests, they generally sit on counters in stores or stations with little or no floor space to spare.
Built-in ATM models are generally found at banks and other financial institutions. Set directly into a wall, they are among the most expensive models to buy. They are also often the most tamper- and theft-proof.
ATMs require some form of online connection. You can choose from dial-up, hard-wired, and wireless models.
Dial-up ATMs use old fashioned dial-up internet modems to connect. They may be inexpensive, but they are less than ideal.
Hard-wired ATMs require a dedicated hard-wired phone line.
Wireless ATMs do not require a phone line or modem at all. They connect to your business’ Wi-Fi and process transactions that way. They can be highly cost-effective for businesses already paying for good internet plans.
What to Look For In an Automatic Teller Machine:
Decide whether the machine will be inside or outside. Outside machines cost more because they are better protected against threats of theft and tampering, and are made to withstand the weather. Your ATM will also need to fit in an installation site with an outlet, access to a phone line or internet connection (some newer ATMs have WiFi).
Be aware that buying a machine could place the full costs and liabilities on your business, so you might want to look for free ATM placement programs. Also see if your ATM service dealer will provide cash resupply and receipt paper for free, and make sure they have an active customer support line.
More Buying Tips and Information: Be certain to fully understand all service such as sales, processing, lease, and rental options. Decide in advance where the machine will be located and then match up with the products size, including the height, width, and length.
ATM Machine Sample Costs
Below are a few examples of price facts for ATM machines which will give you an idea of how much you will pay for your purchase.
- Standard ATM machines are priced $1,150 up to $27,000.
- A freestanding ATM costs between $3,600 to $8,000.
- ATM machine mounted in a wall costs $6,300 to $11,000 .
- A used Automatic Teller Machine is very low priced at $1,200.
- Freestanding ATM machine with a full color display, 1,000 note cassette, and dial-up internet connection is priced between $2,800 to $4,590.
- ATM machine mounted in a wall with 2,000 note cassette and wireless Internet connection costs around $6,800 to $9,000.
- The overall cost to purchase an ATM machines averages between $2,100 to $3,950.
- Other ATM Equipment and Accessory Costs:
- Phone Line Connection ($25 to $35/month)
- Cash Replenishing services ($45 to $65 per Refill)
- Cash cassettes ($200 Each)
Related Industry Terms: Automatic teller machine, full service, ADA Compliant, delivery, lease, EMV, retail, merchants, bank, cash
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