How Much Does an ATM Machine Cost?

If you are looking for a good stream of passive income, then why not consider buying an ATM? Maybe you are looking to add an ATM to your business to supplement your regular income. Owning an ATM machine is a lucrative enterprise and is a great way to set up a stream of passive income. Of course, like any business venture, it takes money upfront to buy an ATM machine. 

On average, an ATM machine can cost between $2,000 and $4,000 for standalone ones and $5,000 and $10,000 for wall types. There will also be an optional cash-loading service that costs roughly $40-$60 per month. 

Restaurants, convenience stores, gas stations, and plenty of other businesses can greatly benefit from having an ATM on site. Here are some of the cheapest options for your business. 

Completed Product & Price Breakdown for ATM Machine Costs

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Types of ATM Machines

• Freestanding. Freestanding ATMs are the most common type of ATMs and are commonly found in restaurants, retail stores, and gas stations. These machines take up about 2 square feet of floor space and stand alone.
• Dial-up. Dial-up machines connect to the internet with a 56 kbps modem, so they need a separate phone line for internet connectivity. Without dial-up, your ATM won’t be able to connect to the internet for transactions. 
• Countertop. Countertop ATMs are built into counters. They are small and are usually used in hotels and other locations that might not have enough space for a freestanding ATM. 
• Wireless. Wireless ATMs connect to the internet with high-speed WiFi and so do not need a dial-up connection. Wireless ATMs are among the most expensive as they are the most flexible, but you can’t use them if the WiFi is down. 
• Built-in. Built-in ATMs are the kinds that you find in a bank. These kinds of ATMs are built into the wall, and so require more time and construction to make, and so are usually more expensive than other types of ATMs. 

ATM Prices By Manufactures

Cheapest ATM Machines

1. Triton RL5000 Xscale

The Triton RL5000 Xscale has an SDD dispenser with a 10.4” display and an 80mm printer. There is no modem in it, but it has a CM330 EMV card reader and an electronic lock. You’ll get a 6-month warranty with this machine. 

2. Nautilus Hyosung

The Nautilus Hyosung features an electronic lock and a 1,000-note removable cassette. You can clearly see your options on the 10.1” color TFT LCD and it’s voice-guided as well. It has a TCP/IP & SSL connection and runs on a WinCE 6.0 platform. Additionally, it has an EMV card reader and comes with a 90-day warranty. 

3. Nyosung Halo II

Another great ATM machine is teh Nyosung Halo II. This refurbished ATM has an upgraded electronic lock, EMV car deader for new chip-based cards, and a 10.1” high-resolution TFT LCD color display. You will get a standard 1000-note removable cassette, which can be upgradable.

The machine runs off of Microsoft Windows CE and connects via dial-up, TCP/IP internet, or WiFi. It has ADA-compliant voice-guided transactions and supports up to 4 languages including English, Spanish, French, and Korean. 

4. GENMEGA G2500

The GENMEGA G2500 ATM is ideal for smaller environments. It features an 8” TFT high-resolution 32-bit color LCD screen and a GenCam camera system.

It contains an EMV card reader, an electric lock, ADA-compliant voice-guided transactions, and an integrated ATM sign topper. The printer is 2” wide and can be upgraded to 3”. It also has 1,000 note removable cassettes and a 24-month warranty. 

5. Hantle Mini-Bank 1700W

Last up is the Hantle Mini-Bank 1700W. It’s a smaller freestanding ATM with a 7” wide color screen. It has an EMV card reader and a 1,000-note removable cassette.

For added security, there’s an electronic lock included. It has a 24-month parts & labor warranty plus upgrades such as professional installation and training, mini high-bright topper, or standard high topper.

ATM Example Costs

Here are some more specific examples of ATM models with additional accessories and how much they cost. 

• A freestanding Genmega G2500 ATM with a 1,000 note cassette and an 8-inch LCD screen has an average cost of $2,300.
• A built-in Triton ATM FT5000 that has a 10-inch LCD screen and an SSL and dial-up compatibility should cost around $8,000.
• A Hantle T4000 ATM with a 1,000 note cassette, WiFi capabilities, and a 16-inch LCD screen costs approximately $6,000.

How Much Does It Cost to Install an ATM Machine?

The various ATM machines available in the industry require professional skills to install. The cost of installing an ATM machine varies from one project to another and is mainly influenced by the type of machine being installed.

On average, you should expect to pay between $700 and $1,200 for ATM installation. Rigging costs or physical installation costs range from $1000 to $2000. This rate essentially depends on site type and probably the geography.

Lastly, bringing the ATM to life with the help of a skilled technician ranges from $500 and $1000. Again, this will depend on the software load type and complexity.

All in all, ATM installation costs range between $2500 and $4000 but can be higher based on construction costs or other site prep factors ahead of showing up to the site.

Additional Costs of Owning an ATM

There are some additional costs associated with owning an ATM. Here are the most common ones.

Cash Loading Services

ATMs need to be periodically loaded to replenish their cash supplies. Depending on the location, you will need to refill your ATM about once every week to once every month. Regular cash loading services will cost anywhere from $40 to $60 per refill trip. 

Repair Costs

Lease agreements, including the service agreement, will vary from vendor to vendor, and it’s important to know what’s in the fine print. For instance, who will you call when if your ATM needs repairs?

How soon will they respond to the call? If repairs are necessary, where it the closest service rep located?

Can you opt out of the agreement if something goes wrong or does not comport with your expectations? Leasing an ATM machine provides the immense benefit of not having to hire a repairman and pay out of pocket for the repairs.

Software Updates

In addition to the costs of maintenance and repairs, receipt paper, cash loading services, and telephony services, ongoing costs will also include software update fees.

Given the large number of ATM attacks, you may have to purchase a surveillance camera and additional security software.

Experts recommend that ATM operators and banks perform regular software updates and upgrades.

Again, you also need to apply to a whitelist in an effort to block malware as well as implement the latest security practices. Also, beware that old ATMs are more vulnerable to attacks.

Even if you pay more for a newer model, have peace of mind knowing that your customers are safe. Plus, a secure ATM may also help you avoid costly lawsuits down the line.

ALSO READ: How much it costs to start an ATM business.

Receipt Paper

Most modern ATMs still use paper reel receipts. You will need to replace these receipts once every month or so. The average cost for receipt paper for an ATM will run you about $30 per month. 

Shipping

You will also need to consider shipping costs. Usually, the ATM gets shipped directly to the location where it will be installed. The price for shipping for an ATM machine is around $400, depending on the brand and model of ATM you get. 

Internet Connectivity

All ATMs need some kind of internet or dial-up connectivity. So, you will have to pay for the internet. A basic dial-up phone line costs about $30 a month while WiFi services cost between $60 to $70 per month. 

Factors that Affect ATM Machine Cost

Location. One of the major determinants of the cost of an ATM machine is the location. All other things being equal, an ATM in a rural location will cost less to buy and an ATM in an urban area will cost more. Consequently, ATMs in rural locations are not as profitable as ATMs in urban areas. 

Accessibility features. Some ATMs are pretty advanced and have LCD screens, dial-up connectivity, thermal receipt printers, and other connectivity features. The more advanced an ATM you buy, the more you will have to pay upfront. 

Additional cash cassettes. Most ATMs can hold up to $200,000, though most only carry about $10,000 at a time. The typical ATM has 4 cash cassettes for different denominations of bills (e.g., $1, $5, $10, and $20). If you want more cash cassettes for higher denominations of bills such as $50s or $100 bills, you will need to pay for extra cash cassettes. 

Vendor fee. Most ATMs also have vendor fees, which amount to a percentage of each transaction. ATM vendor fees are usually cheap and shouldn’t cost you more than $10 to $20 per month. 

Used vs New ATM

You do not have to buy a completely new ATM. You can also opt to buy a used ATM to save money. Used ATMs can cost anywhere between 30% to 70% less than their new full-price counterparts. For example, you can find a used Triton 9100 with an LCD screen and dial-up connection for under $1,000. 

The main downside of buying a used ATM is that you may not be able to get the most recent models with advanced tech.

You may also not be able to get a warranty on your purchase if you buy used instead of new. Used ATMs also may have unknown problems that require expensive repairs. So make sure you vet your choice thoroughly if you decide to buy used. 

Buy vs Lease an ATM

Many people don’t realize it, but you do not have to outright buy an ATM to profit from it. You can lease an ATM for an extended period of time to make money without having to fully buy the machine.

Generally speaking, renting is cheaper than buying in the short term. You can rent a standard wireless ATM for about $90 per month. Usually, rental prices are calculated on a per month basis but you can rent for longer or shorter periods. Some ATMs can be rented out for as little as a single day.

There are some advantages of renting an ATM over buying one. The upfront cost is less for renting and you also have more flexibility over location as you can pick an existing ATM location. However, buying an ATM is probably more cost-effective in the long run once you factor in profits and operating costs.

Second, when you rent an ATM, the company that owns it will be responsible for any major repairs or maintenance. When you own an ATM, you have to pay for those things on your own.

Lastly, rental payments for ATMs are often at least partially tax-deductible.

You can save money on taxes in the short term by renting but will probably save more in the long run by buying.

One final disadvantage of renting is surcharge fees. When you rent, you have to give a portion of each transaction fee to the owners. ATM companies can take anywhere between 20% to 50% of the surcharge fees. 

So overall, renting an ATM is probably better if you only want a short-term deal, but buying is the better choice for the long run. 

Tips for Buying an ATM

• Don’t overestimate cash flow. It is very easy to overestimate the amount of money that you will make. If you overestimate your cash flow, then you could easily fall behind on maintenance and operating costs. So if you calculate that you can make $500 a month, you should act as if you will only make $350-$400 a month. 
• Keep surcharges modest. You may be tempted to hike up surcharges to make more money. However, if you set the surcharge fee too high, people won’t want to use your ATM. We recommend not going over the $3.00 industry average. 
• Keep models updated. If you want to buy a completely new machine, then make sure that you buy a model that has modern advanced features. ATM tech changes fairly frequently so you want to make sure you have the latest models for customers. 
• Thoroughly read terms and conditions. Every ATM machine comes with special terms and conditions. Make sure that you thoroughly review any contracts so you understand the exact conditions of your purchase. 
• Research nearby businesses. A large part of your ATM’s viability depends on the location. You want to place your ATM in a spot near businesses that pull in a lot of cash. Places like gas stations, convenience stores, casinos, laundromats, and arcades are excellent locations for an ATM because those businesses operate mostly on cash. 

Frequently Asked Questions 

Should I rent or buy an ATM machine?

Renting is cheaper in the short term but buying is better in the long term. If you want to own an ATM for more than a year, we would recommend considering buying over renting. Conversely, if you only want a short-term deal, then you should consider renting. 

Can I buy a used ATM?

Yes, you can buy a used ATM instead of buying a brand new one. A used ATM can cost anywhere between 30% to 70% less than buying the same model brand new. 

Conclusion

As you can see, ATMs don’t have to break the bank. You can purchase them used, refurbished, or brand new. If you own a small business, we suggest a freestanding ATM because they’re cheaper. Wall units are going to cost much more. We also suggest purchasing a refurbished or used unit if you’re on a tight budget as they are more affordable for small businesses as well.