Should my business have an ATM?

Not every location may be a great place to put an ATM, but here are some of the things that we look at (and you should to) before we decide to place an ATM.

If you already have an ATM with another provider and it is constantly jamming, running out of cash, or receipt paper consider switching providers. Your customers do not put up with poor service and you should not either. Have the same ATM in place for years and its showing its age? Reach out to your current provider and ask them to replace it. Or come over to 20Vault and we will put a new machine in for you.

Foot traffic - how many people move in and out of your location daily?
Cash or credit - what does the current payment mix in your business look like?
How many ATM's are around you - does every store around you have an ATM, are there easier ones to use than yours?
Do you have customers asking you where they can find an ATM?
Are you an all cash business without an ATM in the lobby?

How do you profit from an ATM in your Business?

You are providing a service

Your customers use cash. Either with you or the next merchant they go to, but they need it and having an ATM on premises allows your customers to make one less stop today. It may be the thing that has them shop with you today instead of a competitor.

Increase cash sales

If you accept credit cards you are losing 3% or more in profits from each transaction. Ready access to cash for your customers increases the likelihood that they will pay with cash.

Increase traffic to your business

If you are the only location with a convenient ATM in your area (strip mall, shopping mall, gas station, C-Store) an ATM is a major draw. They may step in for the ATM, but now they see your business and what else you have to offer.

Some people just use cash

How frustrated are you when you know there are options, but you don't have access to them? Just because you accept credit cards does not mean everyone wants to use them. If your customers do not have access to cash they are not going to make that purchase.