Nautilus Hyosung Halo ATM

Using ATMs for bank transactions is very convenient for a number of reasons such as they can be accessed 24 hours a day, they are located in various locations or for some banks, their ATM services are even available in different countries. However, in recent years, the use of ATMs is no longer limited to banks as they are now being offered to business establishments as well. This is because businesses see the benefits to their customers and their business of having an ATM in their premises.

Some Facts and Figures About An ATM Machine

• ATM customers spend an average of 20-25% more than non-ATM customers
• 40% of ATM users go to the ATM Machine an average of 10 times per month
• Placement of an ATM machine is the second most requested service for retail stores
• ATM customers prefer the convenience of a retail store to a bank

If you are a business owner and want to install an Automated Teller Machine in your store, there are a number of options a proprietor has when going about getting an ATM into his/her business. Nowadays, the market is full of several types of ATMs such as Genmega, Triton, NautilusHyosung Halo ATM, etc. You can opt any one of these as per your convenience.

Buying

The most profitable choice for the business owner, this entails owning the equipment by purchasing the ATM outright. Typically the proprietor gets to retain 100% of the $1.50 - $3.00 surcharge that is collected per withdrawal.

Cash replenishment is the proprietor's responsibility. So, this arrangement works best for the hands-on owner who is often present at the business and has enough disposable cash with which to replenish the machine.

Leasing

This carries all the same responsibilities and profit benefits as buying an ATM. The fundamental difference is that the payment for the ATM is spread out over time. This can be especially beneficial if a proprietor has a tight cash flow situation and doesn't have the capital to buy the machine. In addition, whereas an ATM would normally be depreciated over 5 years when purchased, each lease payment can be written off as an operating cost, providing a tax advantage.

A lease term typically runs anywhere from 1- 5 years, depending on your arrangement with the leasing company. A business owner must keep in mind that the Annual Percentage Rate (APR) will ultimately make the purchase price much greater.

Placement Programs

For the business owner that wants no involvement with the ATM, ATM vendors will sometimes offer to place an ATM in a business for free and operate it entirely. This means no maintenance headaches, no concern with loading the cash, just the need to provide space for the machine and reap the benefits of its presence in the establishment. Usually the proprietor will even be entitled to part of the surcharge revenue, though the commission can vary greatly depending on the transaction volume of the ATM.

One of the most recent innovations in electronic banking is that ATMs can now be placed on business premises. This innovation gives customers' convenience in being able to access their accounts to purchase items and it allows businesses to save time and money and an opportunity to earn as well.