Is an ATM Machine Right for Your Business?

Business owners who consider placing ATMs in their business often find that the cost, complexity and floor space isn’t worth the trade. However, a carefully placed ATM setup in consultation with Bankcard Brokers can increase foot traffic, improve customer experience and also serve as a revenue generator.

How Much Can I Make from an ATM Machine?

ATMs can be a great source of income. To calculate potential, simply use the same formula that every ATM service provider uses when analyzing a potential placement: 3-5% of the clientele who see an ATM will make a cash withdrawal.

If you have 250 people per day that would see the ATM, calculate what the average fee in for an ATM transaction is in your area (nationally $2.25). And here is the formula for your potential monthly income using the mid range of 4% usage:

• Transactions per month 10/day X 30 = 300 transactions
• 180 transactions X $2.25 = $675/month
• $675 X 12 = $8,100 Annual Revenue

Additional Benefits of an ATM

When customers use an ATM in your business for cash for payments instead of swiping a credit card, you’re making money on their ATM withdrawal and not paying merchant processing fees. If you consider the card transaction would cost .30 cents and 1.95%, you’re in the black every time a customer chooses ATM over credit card.

Another benefit of an ATM machine is that it can pull traffic into your store that otherwise may not have visited your store opening you up to additional sales. It also enables those customers who need cash for transactions at other stores to put some money in their pocket.

How Much Does an ATM Machine Cost?

Price ranges for ATM machines can vary great depending on what style and services it offers but the mid range for a state of the art, delivered, and installed (bolted down) ATM machine is about $3500. 

If you choose to purchase the ATM and service it yourself you will also need to stock it with cash. This is a one time investment as the cash inside the machine recycles and most machines have a capacity of approximately $2500. 

If you want to purchase an ATM but don’t want to be responsible for stocking it Bankcard Brokers can help you find a local armored car service that will maintain the bill inventory for you.

The only ongoing fees with an ATM are your monthly statement fees (usually about $10/month) and if you choose to purchase a service warranty, which is highly recommended, they usually run about $25/month

If you want to make 100% of the revenue from your ATM machine but don’t want to make the upfront investment we can lease one to you and for a small monthly payment.

Co-Operative ATM Lease Agreements.

If your business has more than 250 clients per day, we will split the ATM costs and profits right down the middle with you.

But, if you prefer to simply have a Free ATM Machine, Maybe you just don’t want pay for anything – what can you do?  After a quick analysis of your business and traffic flow, Bankcard Brokers can arrange to have a Free ATM installed at your location.

If you will be stocking the machine with cash or if we will be employing an armored car service for you can expect to make between $0.50 and $1.25 per transaction. We manage the machine and all fees, and split the profits with you.

Bankcard Brokers has ATM placement specialists that will help you decide if an ATM service is a good idea for your business.  We can also help you decide if purchasing an ATM, leasing an ATM, using a Free ATM placement, or a Co Operative ATM agreement is best for you. 

Don’t think a traditional ATM is right for you?  Check out our cashless ATM or Point of Banking services!