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ATM machines offer customers a convenient and quick way to withdraw cash. Most customers would prefer to use an ATM machine in-store and not have to leave the premises to withdraw cash. If you haven’t already, you should consider installing an ATM at your business. It can help you generate more revenue and increase foot traffic in your store. Before you decide to install an ATM, here are some pros and cons to consider:

Pros of Installing an ATM Machine

One of the primary reasons business owners install an ATM in their store is to obtain an additional source of income. Business owners earn revenue in the form of a surcharge amount or a convenience fee, which is an amount charged to the customer’s bank card each time they make a transaction using your ATM.

Business owners also receive more exposure amongst potential customers. There is often additional visibility due to an in-house ATM and increased foot traffic in their store. People wanting to withdraw money visit their store and file away the memory of the store’s name in case they ever want to visit again or refer it to someone else looking for an ATM machine.

Cons of Installing an ATM Machine

When you install an ATM machine, you have to pay for it. Having an ATM machine also adds extra responsibilities, such as maintaining it and ensuring the ATM has sufficient funds. However, you can minimize the amount of responsibilities you take when you invest in an ATM machine by choosing an ATM provider that offers free maintenance and repairs and cash replenishment services.

Additionally, you need to look for an ATM provider that offers several different ways to obtain an ATM machine. For instance, you want to ask the ATM provider if they offer free ATM placement program or the option to lease an ATM machine instead of buying it.