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ATM Machine Cost: 2021 Buyer Price Comparison

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ATMs, also known as Automatic Teller Machines, are linked to your bank and allow you to withdraw cash using a debit or credit card. 

You’ll find them just about everywhere, especially in convenience stores and shopping malls. Moreover, they’re a good investment for small independent businesses across the country. 

The average mid-range ATM machine costs around $5,000 when bought from a reputable dealer. Furthermore, a brand new, high-end model costs at least $10,000, while at the low-end, it’s about $1,500 to $7,000. 

Alternatively, a used ATM machine costs between $1,000 and $5,000. In contrast, a lease usually costs from $70 to $90/month. 

But why are they so popular?  

You can withdraw cash 24/7, and you’re never too far away from an ATM. In fact, there are over 400,000 ATMs in the US. That’s 173 machines per 100,000 adults. Americans love ATMs; you’ll find them everywhere. Independent operators own over half of the ATMs, and the rest belong to the four big banks.  

ATM Machine Prices 

Buying ATM machines can be a good financial investment for a local convenience store. Even one of the cheapest ATMs can easily attract more custom, bringing in income to offset the cost of purchasing an ATM machine.  

Wallmounted  

Wallmounted ATMs are great when you haven’t floor space available. Theyre simple to use, and customers can withdraw cash easily. You can place them almost anywhere there’s a wall, and they turn up in banks and supermarkets. The average price of a new wallmounted model is around $6,000 to $11,000. 

High-end models 

You find highend models in banks, hotels, restaurants, and up-market shopping malls. The brand new cost of an ATM machine of this quality is anything up to $27,000. So, you’ll find them where they won’t be damaged. 

Basic ATM 

The basic ATM is purely for withdrawing cash, so you find them in convenience stores, bars, and restaurants. Prices start around $550 for a used, refurbished model but higher for new ones, usually around $1,000 to $4,000. 

ATM Machine Lease & Rental Costs 

If purchasing is out of the question, but you still want an ATM for your business, you can always lease an ATM machine. Although your income will be less (hired machines’ owners take a cut), you’ll still earn when your customers use it, and they’ll have the cash to spend in your store.  

If you want to lease, you should contact a company that handles ATM leasing and ask about the payments and other lease terms. Don’t forget to discuss this with your financial advisor, who can advise whether there are tax benefits. 

Benefits of leasing 

The three main benefits to leasing an ATM are: 

  • Your expenses are taxdeductible (speak with your tax advisor). 
  • The monthly lease payment will be the same, allowing you to plan the costs over the lease period. 
  • You receive a commission each month from which you recoup your monthly expenses. 

Lowest prices 

Suppose you want only to lease the equipment and not worry about installation or maintenance. In that case, you can usually find one for around $50/month. However, remember you need a technician on-hand to fix things if they break. 

Lease/buy 

Financing makes an ATM very affordable. Suppose the total price of your ATM is around $2,500 and you choose to lease over 3 to 5 years, then payments will be between $55 and $100/month. Other purchase prices attract different offers depending on the quality and type of machine, size of the deposit, your credit history, trading history, and other factors.  

Top 4 Best ATM Machine Manufacturers

There are so many ATM dealers in the US that it can be difficult to know whose technology fits in with your business.  

Below we profile some of the leading vending companies’ services and their machines’ features. 

Genmega 

Let’s look at some of Ganmega’s most popular ATM features and benefits. 

The Genmega 2500 is a freestanding model with an 8” LCD. Security is the byword with Genmega products. They offer the GenCam, a camera that records activity on the keyboard and allows the customer to see themselves and anyone behind them displayed on the screen. 

For more information on their product range, visit Ganmaga’s website. 

Hantle 

Let’s look at some of Hantle’s most popular ATM features and benefits.  The Hantle 1700 model has enhanced security, is reliable, and very easy to maintain. Its elegant design allows it to fit into just about any retail environment. It also has a 7” high-resolution color LCD screen, certified encrypting illuminated PIN pad as well as a voiceassisted guidance system. 

For more information on their product range, visit Hantle’s website. 

Triton 

Let’s look at some of Triton’s most popular ATM features and benefits.  The very durable Argo is made in the USA and is ideal for very high traffic in high volume areas.  

The international business community has trusted Triton’s reliable and affordable financial products for more than 20 years. Each machine is made to a  modular design, allowing easy upgrades. Furthermore, they’re easy to maintain and experience the least number of downtime hours than all other ATM devices. 

For more information on their product range, visit Triton’s website. 

Hyosung 

Let’s look at some of Hyosung’s most popular ATM features and benefits. The Halo and Halo II have exceptional security and are available at a very low price. The Halo II is a freestanding machine that looks good in just about any retail space. 

The company has been a leader in financial and self-service technology for over 27 years. And, provides bespoke software, hardware, and solutions for the electronic banking industry.   

For more information on their product range, visit Hyosung’s website. 

Cash Machine Accessories 

For efficient operation, your cash machine must have certain accessories. Buying these will add to an ATM’s cost, but your customers expect to see them in use. 

  • Phone lines connect the ATM to the banking network. Typical costs will be $25 to $35/month. 
  • Reloading cash into the cassettes costs $40 to $70/month. A specialist security company loads the cassettes, delivers, and installs, so you don’t have to. 
  • Additional cash cassettes cost around $250 each. These allow the store owner to load cash from the till into the ATM. 
  • Receipt paper rolls vary with width, quality, and supplier. These provide an official receipt for the customer to prove the transaction. 
  • Advertising toppers cost from $50 to $120/machine. These can be either print or digital adverts to catch a customer’s eye.  

ATM Parts Replacement Costs 

Considering ATM machine prices wouldn’t be complete without looking at the extra costs of owning an ATM machine. We’re talking here about how much replacement parts cost. Below is a list of some components your machine might need during its lifetime. 

  • The Main Board, also called a Dispenser Control Board, controls the cash dispenser module’s operation. Typical costs might be around $650 to $700. 
  • Cash Cassettes store the cash ready to be dispensed. Typically, these cost about $200 each. 
  • Cash Dispensers pick the notes from the cash cassette and pass them to the customer. Typical price is $800 to $1,000. 
  • Locks secure the machine against unauthorized opening. A standard lock’s price is about $50, while more secure versions cost $300 to $400. 
  • Screens are the high brightness LCD monitors visible in direct sunlight. Costs to buy are $200 to $300 each. 
  • Card Readers scan the customer’s bank card for relevant details. Prices range from $270 to $400. 
  • The Keypad allows the customer to input details such as PIN and how much cash they want. Prices from $400 to $500. 

What is an ATM Machine? 

An ATM allows banking customers to check balances, withdraw cash, transfer funds between accounts, and receive account information. An ATM’s main benefit is that everything can be done automatically, 24 hours a day, without dealing with bank staff in person.  

The main feature of an ATM is that you don’t necessarily have to belong to the bank that owns it. As long as a bank belonging to a recognized network issued your card, you can use its services. Examples of networks include Mastercard and Visa, although there are others.  Finally, some ATMs charge for their services while others dont. The deciding factor is who owns the ATM and what bank you deal with. Generally, the major national banks charge the cheapest ATM fees, and in some cases, their services are free. 

Additional Services 

ATMs don’t only provide banking services. More advanced models allow customers to:  

  • Add credit to prepayment cell phones. 
  • Buy lottery tickets. 
  • Donate to charity. 
  • Withdraw cash in various currencies if you aren’t in your home country. 

Individual banks own many ATMs. However, the owner of the premises where the ATM stands or a distributor also owns many. 

Types of ATMs 

There are many ATM types from which to choose. Moreover, you can have small ATMs sitting on a counter-top as well as large freestanding models.  

It doesn’t matter which type you choose. Every model has the best security, including a GPS tracker to track a stolen machine. 

How about loading cash in them? Some ATMs allow the premises owner to load money received in the store into the machine, a useful and secure way of safely depositing cash at the end of a working day. After each transaction, money transfers into the owner’s bank account. 

In malls and on street corners, ATMs need cash refills from specialist security companies. The refill frequency depends on the number of transactions taking place. 

Let’s look at a few ATM machines for sale, suitable for your business space: 

Built-in 

This model is probably what most people picture when they think of an ATM. It sits in a secure wall, outside, in a public place. A brand new ATM machine costs from £2,550 to $6,900. 

Counter-top 

This type of portable ATM is commonly used indoors at a till or post office. Tabletop ATMs are great in small spaces and when you haven’t enough floor space. They provide money to customers from a compact size machine. You can place them on almost any countertop. The price, as new, ranges from $2,300 to $2,500. 

Free-standing 

A freestanding ATM stands in a handy corner of a convenience store or gas station. The price, as new, is between $1,300 to $3,200. 

Online & Offline ATMs 

As you might expect, ‘online’ ATMs are connected to your bank via the internet in realtime. In contrast, an ‘offline’ ATM isn’t connected to the bank but has a predefined withdrawal limit over which you cannot go. If you make a withdrawal over your personal limit, your bank will charge you a penalty. 

Onsite & Offsite ATMs 

You place an onsite ATM within a business’s space, such as a convenience store, gas station, etc. And, it’s the business owner’s responsibility. In contrast, offsite ATMs are operated and maintained by a bank and are usually in public spaces. 

Standalone & Networked ATM 

A standalone ATM restricts itself to a particular bank’s transactions. In comparison, a networked ATM connects to a bank or providers’ network, and customers aren’t limited to a specific bank.  

ATM Machine Benefits 

There are many benefits of buying an ATM to place on your business premises. We’ll consider a few here, and you can decide which you believe are more relevant to your premises’ location. 

Rural areas 

Rural communities have problems when needing money from a bank account. Furthermore, most people work for a living, and taking time off for this purpose is inconvenient. An ATM allows locals to withdraw cash at a time to suit them. 

Travel 

Carrying cash when travelling away from home to another state or even another country is full of risks. There’s also the problem of finding a bank nearby that can cash your checks. 

Employee safety 

At the start of each day, load cash into the ATM. Then, remove and store safely what remains at the end of the working day. Your employees won’t have access to large amounts of money in case of a robbery, and it saves you cash deposit fees and trips to the bank, which could be miles away. 

Increased footfall & sales 

People who use your ATM will also spend in your store. An ATM increases basket spend by 65% on average. Again, 80% of users will revisit your store at least once a week.  You’ll also find that people would rather use an indoor cash machine in a secure environment. 

ADA Standards & Compliance Planning 

The Americans with Disabilities Act 1990 and its amendments laid down rules governing ATMs’ design so that everyone can use them. You can download the guidance notes for the 2010 ADA Standards for Accessible Design. But, we’ll consider the main points here: 

Height 

The top working button must be less than 48” from the floor unless it is a ‘drive through’ ATM. 

Floor space 

There must be at least 48”x48” clear space in front of the machine. 

Access route 

The ATM must be wheelchair accessible from the main entrance. 

Voiceenabled 

All ATMs must be voiceenabled for visually impaired customers.  

Braille instructions 

There must be instructions in Braille to use the voice feature. 

Display monitor 

The screen must be visible at 40” above floor level. And, on-screen characters must comply with specified fonts and sizes. 

Operating Rules & Regulation

Various rules regulate a company providing the ATM service. There are two sets of rules: one for bankowned machines and one for non-bankowned machines. 

Bank owned 

Video surveillance 

Rules specify how many times to use analog videotapes and their storage conditions. As many ATMs now contain digital recording devices, this will become obsolete. 

ATM safety & security 

US Federal laws specify the ATM’s security as many states have laws regarding customer safety. Regulations include standards for lighting, security, and visibility. 

Fees 

The owner must post a notice on the ATM screen stating any transaction charges and the amount. 

Non-bank owned 

  • Only withdrawals of cash can take place, not deposits. 
  • Display additional fees on the machine and screen. 
  • The ATM must show which cards to use for a transaction. 
  • The machine owners must sign an annual declaration of ownership. 
  • There might be state regulations in addition to the above. 

ATM Machine Cost Q&A 

How much money can you make owning ATMs? 

An ATM machine business that leases machines to retailers can make money. But you must do due diligence. 

The main outgoings are the ATM business startup costs, including office space, machine purchases, legal fees, and staff costs. If you get everything right, and it’s in the best location, one ATM generates $20,000$30,000/year. 

When a customer uses an ATM, they pay an additional processing fee of $2-$3/transaction. The owner doesn’t receive all this payment, as certain percentages go to the maintenance companies, the premises owner, and the machine owner.  

What is the best ATM to buy?  

This answer depends on many factors, including what you intend to get out of owning one. 

Two of the best machines to suit a small business, such as an average convenience store, are: 

  • Hyosung Monimax 5000: This machine is a stand-alone ATM, providing easy cash access for your customers. Its sign topper makes it stand out among the shelves, and more importantly, it won’t take up much room. 
  • Genmega G2500: This machine is very basic. Although it doesn’t have many special features, its freestanding and doesn’t take up much room. But, if all you want is a cash dispenser, its perfect for the job. 

How heavy is an ATM? 

The answer to this depends on the size of the machine. A typical freestanding ATM measuring about 1470mm x 476mm x 816mm weighs around 473kg (1044lbs). In comparison, a built-in ATM measuring 1357mm x 655mm x 1300mm weighs 662kg (1459lbs). 

Is America going cashless? 

According to the Harvard Business Review, the rise in transactions by credit and debit cards and online payments such as PayPal, ApplePay and GooglePay suggest a shift in trends towards cashless transactions. 

Cashless is safer for employees in the workplace with a reduced theft risk, and overall is more convenient. 

We now see that around 50% of consumers use a cashless method for paying for items costing as little as $4.50. However, it’s very unlikely for a completely cashless society to emerge soon, but don’t be surprised if we reach 70% cashless. 

How long does an ATM last? 

Based on a survey conducted by ATMIA (ATM Industry Association), the average depreciation period for an ATM is around 5 to 7 years. Technology advances so fast in this industry that a completely new machine will be needed even if the old one isn’t worn out at the end of this period 

How much does an ATM make a month? 

On average, ATM Business owners make from $300$1000/month/ATM, depending on site and footfall. 

How much money do you need to start an ATM business?

The answer depends if you want to be a small concern and grow slowly or whether you want to hit the road running with a ready-made business. 

On average, a brand new ATM costs between $2,000 and $7,500, whereas a used model costs around half that. However, you must ensure the used model complies with the latest ADA regulations. If you want to start off working out of your basement or garage, then that’s pretty much all you need apart from the cash required to load in the cassettes. 

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