So you’re wondering whether or not it is worth buying an on-site ATM for your retail store or other business? The best way to find an answer to this all-important question is to measure foot traffic in your vicinity and determine the number of customers that will see and use the machine on an average day.
To justify your multi-thousand dollar investment in an on-site ATM, you will need to place the machine in a prime location where hundreds will see it of people daily.
Another point that might factor into your decision is your business’s reliance on cash. If your retail locations do not accept alternate payment methods such as checks, credit, and debit cards, an ATM could be an especially valuable way to increase revenue.
If you do accept alternate payment methods, you should remember the fact that installing an ATM will likely reduce the usage of your credit card processing systems, potentially cutting down on processing costs and ultimately saving you money.
On-site ATMs aren’t for everybody, and if there are one or more other ATMs within proximity to your store, installing another one probably won’t do your business much good. If your customers often find themselves short of cash, however, and need a quick and convenient way to refill their wallets, the benefits of installing an ATM could be limitless.