Some years back ATM’s were only possessed by major financial institutions. But now as the cost of owning one of these machines has dropped significantly, it has become possible for small businesses to buy an ATM’s. By installing an ATM at your business, you can help provide people with easy access to cash. An ATM is a huge addition to a business because it can naturally attract customers. When a sign is placed outside showing that your business has an ATM, it gradually draws more people to your retail store. Psychologically speaking, immediately after someone withdraws cash and has the cash in their pocket, they are more likely to spend it right away. Unprompted shopping happens more often after a person adds more money to their wallet. I am going to discuss and review the most popular models of ATM’s on the market and list out all the benefits and downsides of each ATM. Using the information I will provide, you will be able to decide which one of these ATM’s are the best for your business and which one fits your needs. If your interested in more information about why an ATM would benefit your business, check out our other article How to Boost Revenue in Convenience stores and Gas Stations in 2020.
Nautilus Hyosung MX5300CE Series ATM
We are going to start with the most expensive ATM I will be discussing, this ATM retails for $5,000. This ATM is suited for high volume businesses that have a lot of traffic that need to use an ATM. The main features this ATM has is that it has built-in TCP/IP with Secure Socket Layers (SSL) for extra security while connected to the Internet. This new connectivity feature provides a direct connection without additional boxes, adapters or converters. The result? A more efficient product that saves both time and money. By default this ATM will hold 2,000 notes, if your using $20 bills, that means the Hyosung ATM will hold up to $40,000. You can upgrade this ATM to hold up to 8,000 notes, or $160,000, if your using $20 bills. Obviously for most businesses like gas stations, convenience stores, and other small businesses this is totally unnecessary, but I thought I would mention it. Additionally, This ATM has a 15 inch color display with touch screen functions. This is a much bigger screen compared to most ATM’s with an average screen size of about 10 inches. Another feature that allows this ATM to stand out of the crowd is the option to have a security camera attached to the ATM. This feature can give you added peace of mind with the additional security in place. Obviously for most business owners this ATM is overkill, an average ATM will hold at least 1,000 notes in its cassette, meaning if you filled it up with $20 bills, it will hold up to $20,000. This will easily suffice for most business owners. Furthermore, this machine is double the price of most standard ATM’s on the market and for most small businesses those $2,500 ATM’s will be more than enough. I only recommend this machine if you will have high traffic to your ATM, which you can then take advantage of the faster processing times, if you need an ATM that could hold over 2,000 notes, or if you would like the benefit of having a security camera attached to your ATM. The Nautilus Hyosung MX5300CE brings you the same high quality and proven dependability you can expect from an industry leader like Nautilus Hyosung.
Nautilus Hyosung MX 2600SE Halo II ATM
The Hyosung Halo is in my opinion the best entry level ATM on the market. It has an EMV card reader, as required. Physical security measures such as a PCI 3.0 compliant keypad and solid steel provide protection. Secure communications using TLS (Transport Layer Security) transmission encryption keep transactions safe. It retails at $2,000 making it a great option on the less expensive end. It holds 1,000 notes, which means if your filling it up with $20 bills, it will hold up to $20,000. This should be more than enough for any gas station, convenience store, or any other small business, considering that on average for these types of businesses the average person withdraws $60 from an ATM and the average ATM has about 10 customers a day. This means that per day, on average, $600 will be withdrawn from your ATM, giving you over a month of cash storage in your Hyosung Halo if filled to max capacity. This machine has a 10.1 inch color TFT LCD screen which is a bit small, but definitely gets the job done. Overall, for a small business owner, I would recommend this ATM because it definitely gives the most value for its price and comes from a reputable company such as Nautilus Hyosung.
Nautilus Hyosung MX 2800SE FORCE ATM
The selling factor of the Hyosung MX 2800SE is its big screen. It has a 12.1 inch color display and has touch screen functions. The Force has an optional camera that photographs the user during the transaction and stores it in its transaction records, so for security purposes this ATM has the best upside. By default, this ATM holds 1,000 notes, but can be upgraded to hold up to 6,000 notes. The Force retails for $2,500, which places it a little more expensive than the Halo II. This ATM is one of my favorites because of its wide design and customers usually like this ATM more than the other ATM’s on the market because it’s much easier to read the information on the screen.
GenMega Onyx Series ATM
This ATM has a modern and upscale design with all the standard features an ATM needs. The Onyx has 10.1 inch LCD screen like the Halo, but unlike the Halo, the Onyx’s screen can be upgraded to a 12 inch touch screen if needed. The GenMega Onyx retails for $2,565. In addition, the Onyx can be programmed to have custom on screen advertisements for branding. By default, the Onyx holds 1,000 notes in its cassette, but for an additional cost you can upgrade the cassette to hold 2,000 notes. The Onyx also has an all new UL291 vault with an inset door and is available with both dial and electronic locks. If needed you can pay an extra $100 to have a video camera installed in the ATM. Overall, This ATM has the sleekest and the best looking design out of all the ATM’s on the market, it also has all the features you would want in an ATM.
Designed expressly for the retail market, the Traverse has a sleek, modern design and all the innovative features you’ve come to expect from Triton. The Traverse includes all the latest regulatory features and with an entry-level price point of $2,699. The Traverse has marketing features that include customized signage and on screen messaging. The default cassette holds 1,000 notes, but can be upgraded to hold 1,700 notes. The Traverse has a smaller than average 8 inch wide color LCD display. The Traverse includes added PIN protection, a UL291 certified business hours cabinet, and a TKM option. The Traverse is available with a variety of lock options and is compliant with all regulatory features including ADA, EMV and PCI 3.1. With a compact footprint that can fit into tight spaces, it makes this ATM a great option when you don’t have a big area to place it in. To sum up, I don’t see any reason you should buy this ATM for your business, when you can get the Halo II or the GenMega Onyx which do the same thing as the Triton Triverse and are cheaper.
If you want to maximize your revenue at your convenience store, gas station, restaurant, or any other type of business having an ATM is a must. The boost in profits, traffic, and customer loyalty makes it a necessity to have an ATM on your property. Every business is going to have their own unique needs, so hopefully with the use of my guide, you will be able to decide which ATM is the best for your business. If you would like to learn more about the benefits of having a security system at your business, you can check out our other article Security System Review for Convenience and Retail Stores in 2020.