An ATM will cost starting at $1,000 up to $25,000. Leasing or renting an ATM has an average monthly cost between $50 and $120.
Some vendors choose to quit monthly leasing or rental fees in high traffic areas and charge a portion of the machine's extra charges instead.
Installation and training fees have an average cost of $50 and $500, but these fees, as well as rental/leasing fees, may not be charged to you if the location of your ATM is in high traffic areas. Instead of charging you the fees, they make it free in exchange for a portion of ATM surcharges.
Renting or leasing an ATM comes at a much lower upfront cost, which may even be as low as zero. If you do not have the capital to purchase a machine outright, this is a great way to get what you need without breaking the bank.
Commitment: Choosing to rent or lease means a shorter commitment to the ATM. It is a way to see if having an ATM on-site is worth it for you without having to purchase one. If you find that it does not work for you, simply send it back at the agreed-upon time.
Long-term costs: While renting and leasing definitely provide lower upfront costs, over time you almost always pay more. It may not seem like it because payments are spread out over months, but interest and other fees add up over the course of the rental/leasing agreement.Lack of ownership: Unless you buy the ATM outright, you do not actually own it. This means you have less control over everything from servicing, to surcharges, to placement. Be sure to understand who is responsible for what according to the agreement.
The cost of buying an ATM for your businesses depends on the type of ATM you choose, the age of the unit, and how you choose to restock the machine.
An ATM that is not owned by a federal or state agency has a different set of security rules and regulations to follow that are modified depending on your state. Non-banking ATMs only allow for the dispensing of cash; no deposits are allowed.
These machines must also have some type of card logo or identification that lets potential users know whether their card will be accepted by the ATM.
Owners still have the ability to impose an extra charge so long as it is revealed to the customer by a sign on the machine and electronically by the machine itself.
Any institution that operates an ATM needs to comply with the federal and local laws, especially the Federal Electronic Funds Transfer Act and the Bank Protection Act.
But it is important to note that these laws provide security for the machines themselves, not the user. While there are no federal laws for minimum standards to protect ATM users, several states have passed their own laws in regard to what security precautions must be taken.
Why are we even discussing this with you? This is important because before buying, leasing, or renting an ATM; before knowing the cost of ATM you need to be sure to check your local and federal laws to ensure that you are fully compliant.
But if you think you meet all the requirements and can comply, then the next graph is for you.
The graph below shows a comparison of (1)GenMega G2500, (2) GenMega Onyx and (3) Nautilus Hyosung 2700 CE. These 3 are like the 3 giants in ATM Machine.
The battle of ATM supremacy in the retail space is as fierce as ever. Make sure you know what you need.
|GenMega G2500||GenMega Onyx||Nautilus Hyosung 2700 CE|
|Pricing||$2,000 - $2,200 for standard package||$2,300 - $2,700 for standard package||$2,400 - $2,700 for standard package|
|Warranty||12 Months||12 Months||12 Months|
|Screen||8” LCD||10.1” LCD||10.2” LCD|
|Security||UL291 Business Hours Vault and Dial-lock||UL291 Business Hours Vault and Dial-lock||UL291 Business Hours Vault and Electronic Lock|
|Cassette Type and||800 note fixed||800 note fixed||800 note fixed|
|Capacity (other options below)||cassette standard||cassette standard||cassette standard|
|Capacity (other options below)||2” (56mm) standard||2” (56mm) standard||3” (80mm) standard|
|(Connection)||and TCP/IPEthernet with SSL||and TCP/IP Ethernet with SSL||Ethernet, and Wireless|
|Customizable Eye Appeal||Yes||Yes||Yes|
|Optional Upgrades||10.2” Touchscreen||12” Touchscreen||10.2” Touchscreen|
|Electronic Safe||Electronic Safe Lock||Cencon|
|Lock or Cencon||or Cencon||High-security lock|
|High-security lock||High-security lock||Built-in Camera|
|Removable cassettes for additional note-holding and convenience||Removable cassettes for additional note-holding and convenience||Additional Cassette options (to hold more notes)|
|Upgraded 3” receipt||Upgraded 3” receipt||Thicker Level|
|printer (for ads and coupons)||printer (for ads printer (for ads||1 Safe Fingerprint reader, contactless card reader, and barcode scanner options as well|
One of the primary reasons why GenMega G2500 tops the list for small business owners is because it is the ATM of choice of the industry professionals.
According to a survey, most of the ATM companies will really recommended the GenMega G2500 as the best choice for small business owners.
It has consistent recommendation reviews within an industry that rarely happen. This is why we stand up and take notice when it does.
There are several reasons the GenMega G2500 is the ATM machine of choice in the industry.
If you want a super reliable ATM machine with just a little more class and sophistication than the GenMega G2500, then the GenMega Onyx is a great choice. It has the same design reliability and that is similar with all GenMega products but has an added smoothness of the design and a bit larger screen that would work well if your business is a little on a high-end location or service. Having a little luxe feature, it is only several hundred dollars extra in cos compared to the GenMega.
Hyosung ATM machines do not have quite the design consistency as the GenMega ATM’s. For the ease of ATM maintenance, you will make it a bit hard to find parts and service machines. However, the Hyosung 2700 CE is a very well-rated ATM machine as an overall.
It is a little high-end than the GenMega 2500 and is more similar to the Onyx.
There is add-on features that the Onyx does not have but the Hyosung has; such as the fingerprint ID, a built-in security camera, and more.
If you are looking for a little more technological machine, you should consider the Hyosung 2700 CE.
The only reason to use a different machine than the ones reviewed in this guide is if you need a wall-mount or through-wall (drive-through) ATM machine. If so, here are our recommendations. Not sure where to put your ATM? Our Retail Layout Guide can help you plan your store.
Wall-Mount: GenMega Onyx Wall-MountGenMega Onyx Wall
Much like the free-standing Onyx, the Onyx wall
The mount is sleek and professional. It is relatively affordable, costing around $2,500 – $2,700 for the standard package. One of the main reasons the GenMega Onyx stands out is because it is one of the few wall-mount machines at that price range that can handle up to 1000 notes in cash, with many other models holding more in the 500-800 note range and often costing more. That means with the Onyx you will have less chance of running out of cash and need to fill the machine less as well.
Drive-Through GenMega GT 3000
If you are looking for a through-wall drive through ATM machine, the GenMega GT 3000 is probably your best bet. It is not a super fancy machine, but it will get the job done and costs quite a bit less than other options, at around $3,300 to $3,500 for the standard package. Many other through-the-wall machines cost $4,500 and more.
When it comes to pricing, the GenMega G2500 wins the battle. The GenMega ONYX and Hyosung 2700CE are a little bit more expensive, but are also a little bit techy in their features and the look.
Of course, purchasing the ATM Hardware is only one cost component of having an ATM machine, you also have to consider in another $2,000 or so for the initial cash to put inside the machine.
The GenMega G2500 price starts at right around $2,000 for the standard package. The standard package includes an 8” LCD screen, an 800 note fixed cassette, a mechanical dial-lock, and a 2” receipt printer. The cost of upgrade options varies, from $50 or so for a 1,000 note cassette to $600+ for the high-security Cencon safe lock. Our reseller, blank, has a great package for $2,050, which includes a 1000 note removable cassette, an electronic safe lock, and 24 months parts warranty.
The GenMega Onyx starts at right around $2300 for the standard package, which includes a 10.1” color LCD screen, and 800 note fixed cassette, a mechanical dial lock, and a 2” receipt printer. Because the Onyx is also a GenMega, the upgrade costs are nearly identical to those of the G2500, mentioned above.
The Hyosung 2700 CE will cost you around $2400 for the standard package. The standard machine includes a 10.2” LCD screen, a 1000 note fixed cassette, an electronic safe lock, and a 3” graphic thermal receipt printer (can print coupons and ads). The 2700CE has similar add-ons as the GenMega’s, including a larger touchscreen, cencon lock, etc. For those add-on’s prices are about the same as mentioned above. But, the Hyosung also has some optional add-ons that the GenMega systems do not, including fingerprint ID, a built-in security camera, and more. Of course, the more add-ons, the higher the cost and to get an accurate quote, you would have to talk to a provider directly with your specific add-on list.
The GenMega machines, and specifically the G2500, are considered the most reliable in the industry, giving them a slight edge over the Hyosung 2700 CE. But, the Hyosung units are also very solid, and the 2700 CE is one of the best-rated in their ATM machine lineup.
All in all, getting a good ATM machine is about finding one that is reliable and does the job.. Most small business owners are not going to need anything too fancy, just something that will consistently process money and not breakdown.
We hope that you find this article helpful!