Back in 1930, New York City witnessed the debut of the first ATM. Surprisingly, the bank removed it six months later because the customer demand can’t cover the operational cost. Today, Automated Teller Machines are everywhere. From hospitals, schools to malls, and small businesses.

The average Automated Teller Machine processes at least 300 transactions every month. About 40% of customers use the unit one to ten times every month. As an entrepreneur, they can leverage the trends and increase their company’s revenue. If they own a startup or a brick-and-mortar store, they can put or install Automated Teller Machine at your physical store and charge service fees.

To find out more about the history of ATMs, check out https://www.smithsonianmag.com/history/atm-dead-long-live-atm-180953838 for more information.

How to buy an Automated Teller Machine?

Increasing your business’ revenue using the device is pretty simple. Assuming you already have a store, restaurant, gas station, or other facilities, you only need to rent or purchase an ATM. First, make sure that the store is a perfect fit. Usually, it needs to be located in a high-volume, high-traffic place and has a steady influx of customers.

Otherwise, the business may end up losing more than earn money. Remember that companies need to make enough money to cover the cost and maintenance fees of the machine. Check your budget and find out whether you want to purchase a new, used, or refurbished ATM.

Look up machine wholesale companies and check their price range. Select sellers that provide Automated Teller Machine installation and tech support. If you’re planning to buy more than one ATM, look for ATM wholesalers or try to get a better deal with your vendor of choice. The next thing to do is to decide what kind of machine you wish to buy and the features you’re looking for.

Some ATMs are designed only for debit or credit transactions, while some will allow customers to pay bills and add funds to their accounts. Most of these units are connected to interbank networks, helping the users to withdraw or deposit money from Automated Teller Machines that do not belong to the bank that they’re using.

Customers also need to consider the price of the device. If they are looking for “Automated Teller Machine for Sale” on the Internet, they will see that prices differ from brand to brand and from store to store. Expect to fork out $500 to $30,000 depending on its security and features. You can choose a countertop, free standing, wireless, built-in, dial-up ATMs, and other models.

For example, built-in ones can cost $5,000 to $10,000. Freestanding units can range between $3,000 and $8,000. If you’re on a tight budget, try using a second hand or refurbished ATM; usually, it cost less than $1,500. Factor in the cost of the receipt paper, additional money cassettes, phone line, and other fees ATM machine wholesale companies are asking for.

Automated Teller Machine safety and leasing

While it can be tempting to buy used or cheap models, consider the risk that is involved in using second hand units. They may not be as safe as the brand-new ones. It can break down and make you pay for repairs. Do not overlook the risk of attacks and fraud. It may include, but not limited to jackpotting or cash trapping, skimming, card skimming, cash and card trapping, eavesdropping, transaction reversal scams, and even physical attacks.

For example, scammers can use eavesdropping to steal the customer’s card data using an unauthorized device. These criminals can also install skimming or scamming devices on the unit’s card entry slot to capture the card information of anyone who uses it. These kinds of attacks are on the rise all over the world.

Prioritize the safety of the customers

If you cannot afford to buy a unit that meets excellent safety standards, you can rent one at a lower cost. A lot of companies supply ATM rental services. As a matter of fact, some vendors give clients the choice of either rent or purchase the device.

By renting a unit, you will be able to pick a more modern and advanced model with excellent, cutting-edge safety features like an offline Personal Identification Number validation and an excellent quality built-in camera. Be aware that indoor units are safer compared to units located outside of establishments.