Authoritative Guide: How to get ATM Machine
When you are looking for an ATM for your business, there are several business models on how you an use on how to get an ATM machine:
What are the four most common business models: How to get an ATM machine for your business?
FREE Placement: This is a complete turnkey model, with no upfront investment, the ATM provider will often have a revenue share.
Purchase an ATM: In this model, your business will often will make roughly a $2500 investment in equipment, but you will make most of the income from the ATM
The 50/50 Split: This is a common model in which an ATM supplier will give you an ATM, you provide the vault cash and the ATM revenue is split 50%. There are several variations of this include a rental or lease model.
Buy an ATM: Buying an ATM machine can be the highest cash outlay, but also the largest profitable approach. You would purchase an ATM from a supplier like New England ATM. Your options in the market are filled with several kinds of ATMs, including Freestanding, wall-mounted, and through-the-wall models. We’ve been using the Hyosung Halo II ATM for years with great success. Depending on the machine's characteristics and capabilities, prices can change. You should also take recurring expenses like maintenance and cash replenishment into account when purchasing an ATM.
The most common ATMs for retail locations are the Hyosung Halo 2 and the Genmega G2500. Both ATMs are a great buy. Either one you choose will be
Rent or lease an ATM: This model is the least popular, in this case you would pay a monthly lease to a supplier or distributor or you lease the ATMs. If you don't want to buy a machine entirely or if you only need an ATM for a short while, this can be a decent solution. The duration of the rental period and the machine's characteristics will determine how much renting or leasing will cost. Leases usually run about 5 years in length and cost between $79-$99 per month, in this model, the lessor is usually responsible for upgrades and maintenance of the ATM.
FREE PLACEMENT: This is one of the most popular models in acquiring an ATM machine for your business. An ATM provider like New England ATM provides an ATM free of cost, they own, operate and maintain the ATM. The operation will keep the ATM full of vault cash for daily operation and maintenance of an ATM machine. The ATM provider will share some of the revenue the ATM machine collects on a monthly basis.
In this model, you have no upfront investment in the ATM. You have minimum responsibility in regards to banking issues that may arise. Because this model is turn key, you are not responsible for the vault cash or the maintenance of the ATM. Several ATM service providers provide a free installation and maintenance service for the ATM machine in your company. In this scenario, a percentage of the transaction fees earned by the ATM will go to the ATM provider. If you don't want to make an upfront investment in an ATM machine but still want to provide ATM services to your customers, this may be a smart choice.
Finding a supplier or ATM provider who can supply you with the machine or service is necessary once you have chosen the best solution for your needs. An ATM business consultant can assist you identify the best option for your company, or you may conduct an online search for local ATM machine providers or manufacturers. www.newenglandatm.net has a wide selection of ATMs and information on different ATM models and options available.