ATM Buyers Guide & Purchasing Advice

1. An automatic teller machine or ATM can boost foot traffic to your business. It can draw more customers to your shop. Also, if you hate the thought of having to cover the transaction fees every time you accept a card payment, then it’s a good idea to have an ATM installed at your place of business. That way, you can encourage more customers to pay in cash. When they do, they save you the transaction fees, so you get more in terms of profits. If you are buying an ATM unit, here are useful suggestions to keep in mind. Start with the Features Some ATM units only dispense cash and allow users to check the remaining balance in their account. Some, though, are much more advanced and can allow users to deposit money into their accounts. However, the more advanced the features, the higher the price tag on that unit. Think about when you start looking for options. Consider what’s Popular When you shop around for options, find out what type of ATM have other businesses gone for? What is the most popular unit? Do a bit of research regarding ATM sales to find out. Once you have, examine that unit. It’s not enough that plenty of companies picked that unit or brand. You need to ask two things: Does it fit your needs? Is it the right match for your business?

2. Think About Your Customers What does your consumer base need? You need to think like your target market. What kind of ATM unit would draw them into your shop? What features will matter to them? Are they the type to just withdraw money or check their balance? That’s a key observation. If you think your customers are going to be happy with a no-frills ATM, then you won’t have to buy units with advanced features that your customers won’t use anyway. Ensure Access One thing you need to remember is that most people have older cards. Will those cards respond to units with advanced features? Some of the cards are made for ATMs that aren’t so advanced or new. If customers often have a hard time withdrawing from your machines because it takes them several tries before the machine reads the cards or recognizes the cards, then that could be a potential problem. It could discourage customers who might want to look for ATMs that give them little to no trouble. That’s why it’s a good idea to mid- range options.

3. Factor in the Cost How much is the unit? A brand-new ATM costs a lot. One way to save on costs, though, is to look for second-hand or refurbished options. By going for old models, you save on costs. Those cost-savings increase even more when you shop around for second-hand options. If you want to stay on budget while buying an ATM, you won’t be disappointed. There are companies that offer these units at an affordable price. You only need to do a bit of research to find out which units and brands should you choose.