Reasons to install used atm machines in your location

Posted by Amos Fred on March 26th, 2019

It’s no surprise that America is in serious credit card debt.The average individual credit card debt is over 00, with 55% of credit cardholders not paying their bill in full every month. The average debt also varies by age group, with the highest balances being carried by people in their prime earning years of 45 to 54. In the face of all this not so fantastic plastic, it might surprise you to hear about the persistent popularity of cash.Cash persistently beats out debit and credit cards in popularity, in fact, 24% of the US population uses bills for all purposes, and .3 million in cash changed hands in 2015 alone.

Small Business Can Cash In

So, how does cash get from the account into the customer’s pocket? The ATM, of course. There are lots of different options nowadays when it comes to getting cash. You can get money back with a purchase, but it’s unreliable and inconvenient to have to buy something just to get some money. For small businesses, the key to unlocking cash is in purchasing an ATM for their business. Scoping out new or used ATM machinesfor saleand picking the right fit for your location can help small business cash in.

1.   People who use an ATM in a business frequently spend the cash in that business. Moreover, they can spend as much as 20% more than people paying with an ATM or debit card.
2. Many companies pay exorbitant fees to credit card processing companies, and in some cases may even need to guarantee a certain amount of traffic in order to obtain the services. Some credit card processors also charge extra fees for any overage. Cutting the cord to credit card processors may cause some inconvenience, but with an ATM on the premises, the fallout may be negligible.
3. ATMs can bring in business from the surrounding area, particularly in neighborhoods that are underserved by banks or where banks lock up their ATM machines at the end of the business day - as is often the case with those banks located in office buildings. No matter what time of day, people still need access to their cash.
4. Businesses also obtain a flow of revenue from their share of the transaction fee. The customer’s bank typically charges a fee on their end, while the business takes a percentage of the ATM fee. Businesses may typically set the fee as high as they wish but should be aware that other businesses in the area may provide ATMs with a lower fee that will draw more customers.

Shop Wisely!

When looking for new or used ATM machines for sale, it pays to do your homework. While many used ATMs are for sale cheap, you need to understand what you are getting for your money. Very often these machines are being sold without any warranty, refurbishing, or being up to current standards for security. Some of these machines on offer may not even be able to work with chip and pin cards. Always make sure that your vendor is experienced, with a good reputation and solid track record.