How to Buy ATM Machines
According to ATM Experts, the typical ATM customer spends 20 to 25 percent more when an ATM is in the location. The company goes on to report that half of all adult Americans use ATMs regularly. The acronym stands for asynchronous transfer model, which is the technology behind electronic money machines.
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Instructions
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Evaluate feature options. The first step of any purchase process is to know what's available. This will usually drive pricing and might even further define your product search.
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2
Determine the interoperability of the technology platforms. Compatibility is a highly valuable feature for ATMs as it will greatly reduce time spent on maintenance and set up. Be sure to ask about global interoperability. Is the equipment compatible? Inquire about ATM compliance certifications.
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3
Understand the way the network will handle lost frames. It will either use software or a resident feature. Also, ask what happens if network synchronization is lost. What will the network vendor do to ensure clocking is maintained?
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4
Analyze traffic volume. This is dependent on the location as well. Traffic volume will justify the cost of your ATM, so it is important to understand the affects of changes in traffic on profitability. This is especially important for buyers as leases, rentals and ATM placements allow for a more variable cost structure.
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5
Understand ATM service pricing. The service might be on a flat-rate or usage-sensitive basis. Ask that all proposals or quotes provide both pricing methods for comparison. Also, be sure to inquire about the billing schema. It should be consistent and compatible with systems.
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6
Ask about network disaster recovery plans, emergency product replacement and power failure glitches. Also, ask about the security of the service being offered. ATMs, by their nature, are high-risk assets as they are not connected to anything. Be sure to understand how the vendor mitigates these losses.
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7
Contact a dealer like ATM Experts to make your purchase. ATM Experts works with multiple vendors and can help facilitate the purchase process. ATM Network is another well-known ATM distributor with over 25 years of service (see Resources).
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Tips & Warnings
ATMs can cost from $500 to $50,000 depending on the level of security and size. Financing is available with most vendors. Be sure to ask about alternative purchase options, such as leases, reseller agreements and full-service placements. Also, be sure to request at least four different price quotes with detail requests mentioned in Steps 2 through 7.
References
Resources
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