What are the best ATM machines and how much do they cost? Here are 6 ATM machines you can choose from.
In this modern age, ATMs have become an important tool for the modern consumer. During the restrictions of COVID-19, ATMs can mean limited human interaction in modern banking. Although it depends on the visibility of the machine, an ATM is likely to be accessed 15 to 30 times a month.
Those transactions generate revenue from the fees. That revenue can add up to as much as $20,000 and $30,000 per year – no small chunk of change.
Types of ATM
There are two types of ATMs common in the U.S. The free-standing kiosk type and the in-wall or built-in type! For business owners with floor space limits, a free-standing ATM with a small footprint is the ideal option. Some are as small as 16″ square.
Others are counter-top models that are secured to a tabletop. They can weigh from 200-400 lbs. and must be bolted to the floor or to the countertop. The other type of ATM is the built-in version. They are customarily built into a secure, controlled-access room, which offers another level of safety.
The installation of one of these machines is not easy. The chassis of the ATM resides inside the secured area and the face is placed through the wall to the other side. The usual material for the walls is reinforced concrete. The ATM itself weighs near 1000 lbs.
If you are considering adding an ATM to your business, the first thing you need to consider is if you would rather rent or buy the machine. If you have been saving money, buying an ATM outright may be a great option. It is a one-time purchase; you won’t have to pay monthly fees, and you won’t be tied to a holding company.
It is advisable that you research and find a model that best suits your business. If your company doesn’t have as much working capital, renting can be a great option. While you’ll owe monthly payments, you’ll have access to a good machine, maintenance options, and profitability.
When it comes to finding an ATM Company or buying an ATM Machine, comparing quotes is the key to getting a top product for the lowest price. Below are the best ATM machines you can get. All of these machines have EMV as a standard feature, as this is now required.
Best ATM Machines to Buy
Nautilus Hyosung 2700 – $3,000 to $4,000
The Hyosung 2700 is easily upgradable to meet needs now and in the future. It features a large 10.4″ color display and heat-sensitive function keys.
Other standard features include a UL Business hours vault and PCI (Payment Card Industry) Compliant EPP (Encrypting PIN pad. The standard mechanical dial lock can be replaced for enhanced security. The large capacity cassettes hold up to 6,000 bills.
Genmega 2500, Onyx – $6,000 to $9,000
The Genmega 2500 is one of the top-ranked ATM machines designed for indoor placement. The G2500 comes loaded with nerve soothing features. It also provides additional configuration choices. The G2500 comes standard with an 8″, high-resolution, wide-screen LCD, which can be upgraded to a larger touch screen version.
The Genmega Onyx series offers a sleek and compact look with a 10.2″ color screen standard. It has fixed, removable, and multi cash cassette dispenser options.
Diebold Nixdorf CS 2040, 280 and 5500 – $3,500 to $7,000 and up
The Diebold Nixdorf ATM machines are compact, flexible, indoor lobby cash machines. It is meant to be in a well-monitored area and is self-serviceable. It truly automates the teller function. It is upgradable to cash recycling.
Hantle 1700 – $2,000 to $2,500
The Hantle 1700 Series ATM comes with an unbeatable reputation for reliability, security, and durability. The aesthetics are more than you expect, with modern and unobtrusive design features. This is the ideal unit for lower volume stores.
The Hantle 1700 weighs just over 200 lbs and offers security and ease of maintenance. It is fully TDES and ADA compliant.
Triton Argo, Traverse – $5,000 to $10,000 and up
Very customizable to meet your needs, the Trinton Argo builds on 40 years of Triton history as an American-made ATM. This machine rates very well and is for high traffic and volume areas of many retail, food service, and hospitality locations.
The Traverse is designed for off-premise retail use, with special consumer protection such as anti-skimming and PIN shielding design. It is built extra tough to withstand weather and use.
Nautilus Hyosung Halo – $6,000 to $9,000
Note that the bestselling Halo provides enhanced security features for an entry-level price. It features a UL 291 business hours safe.
It has an EMV card reader, with 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.
Always make sure to evaluate and research all of your options before making any final decisions on a brand, model, or purchasing options. Check to see if the company you are looking to buy from or partner with has professionals that can service the machine, whether they provide service to your area, and any warranties that might come with the unit itself.
Frequently Asked Questions
What Are Different ATM Layers?
ATM reference model comprises of three layers and they are;
- Physical Layer − This layer corresponds to the physical layer of OSI model.
- ATM Layer −This layer is comparable to the data link layer of OSI model.
- ATM Adaptation Layer (AAL) −This layer corresponds to the network layer of OSI model.
What Different Types Of Atm Machines Are There?
- White Label ATM.
- Brown Label ATMs.
- Onsite ATMs.
- Offsite ATMs.
How Many Types Of ATM Machines Are There?
There are two primary types of ATM machines. Basic units only allow customers to withdraw cash and receive updated account balances. The more complex machines accept deposits, facilitate line-of-credit payments and transfers, and access account information.
What Is an ATM?
An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries or account information inquiries, at any time.
What Are The Types Of ATM Installation Options?
- Lobby (Self cashed) Suitable for indoor locations, small footprint, free-standing, stand-alone unit
- Lobby (Fully cashed)
- Through the wall – Inside (Fully cashed)
- Through the wall – Outside (Fully cashed)
- Self service device
What Is The Structure Of An ATM Machine?
The following parts make up the basic structure of an ATM machine;
Display screen – This screen guides the transaction of the user by visually showing them the functions of the machine, and helping them perform the task they need to.
Card Reader – This is an input device that identifies your bank account on the basis of the card you feed into the reader.
Cash Dispenser – This is the output device from where you can acquire the cash you have withdrawn through the machine.
Receipt Printer – This is the point from where you will get the receipt of your transaction after it is complete.
Keypad – This is an input device that guides you through your transaction. Whatever you input through the keypad, will be reflected on the display screen.
What Is Involved In ATM Installation?
ATM installation involves either renting or buying an ATM, securing the ATM at its location, installing security around the ATM, and inputting the several different codes needed for it to run. After this, applying decals, testing the machine, and training the merchant on ATM maintenance is all that is left to do.
What Features Do ATM Machines Have?
The features of the automated teller machine include the following;
- Transfer funds between linked bank accounts.
- Receive account balance.
- Prints recent transactions list.
- Change your pin.
- Deposit your cash.
- Prepaid mobile recharge.
- Bill payments.
- Cash withdrawal.
- Perform a range of features in your foreign language.
What Is The Use Of an ATM Card?
An ATM card is a payment card or dedicated payment card issued by a financial institution (i.e. a bank) which enables a customer to access their financial accounts via its and others’ automated teller machines (ATMs) and to make an approved point of purchase retail transactions (i.e. gas stations, grocery, hardware, department stores, etc.).
What Should You Keep In Mind When Maintaining An ATM Machine?
The following five things must keep in mind while maintaining the ATM machine;
- Standard ATM parts must be cleaned
- The machine must be checked for inspecting
- Surveillance camera must be checked whether that is working or not
- ATM must be protected from the elements
How Much Does ATM Installation Cost?
Overall, typically ATM installation costs range from $2500-$4000 but can be higher based on construction costs or other site prep factors ahead of showing up to a site
What Are The Disadvantages Of ATMs?
The disadvantages of automated teller machines include the following;
- It charges some amount once free transactions exceed
- Once ATM card damages then cash withdraw is not possible
- Possibility of cash robbery from ATMs
- ATM pin can be easily hacked by criminals by operating an ATM
- The risk of theft is high while going to ATMs
What Are The Two Types Of ATM Switches?
ATM uses two types of switches namely, VP switch and VP-VC switch.
What Is ATM In Networking?
ATM stands for Asynchronous Transfer Mode. It is a switching technique that uses time division multiplexing (TDM) for data communication. ATM networks are connection oriented networks for cell relay that support voice, video, and data communications.
How To Operate ATM Machine?
The Automated teller machine is very simple to operate. The step by step algorithm for ATM operation is shown below;
- First, you need to visit the nearby ATM center & place your ATM card within the machine.
- Select your language which appears on the ATM monitor like your local language, Hindi, and English.
- Select the transaction type from different transactions like money transfer, withdrawal, deposit, etc.
- Choose the account type like savings or current.
- Enter your 4-digit ATM pin number and enter the required amount to withdraw.
- Gather the money and collect your receipt
What Is Difference Between An ATM Card And A Debit Card?
An ATM card is a PIN-based card used to transact in ATMs only. While a Debit Card on the other hand, is a much more multi-functional card. They are accepted for transacting at a lot of places like stores, restaurants, online in addition to ATMs.
What Are Different Types Of ATM Machines In India?
There are different types of ATMs in India which include the following.
- Leased Line ATM Machines
- Dial-Up ATM Machines
- White Label ATM
- Brown Label ATM
- Onsite ATM
- Offsite ATM
- Cash Dispenser
- Mobile ATM
- Green Label
- Orange Label
- Yellow Label
- Pink Label
Can an ATM Card Be Used As Debit Card?
Some ATM cards also function as debit cards, which may be used to make purchases online and at retail establishments. Such cards have visible Visa, Mastercard, Discover, or American Express logos. These cards are often interchangeable with credit cards, but they are not exactly the same.
What Are The Benefits Of Using An ATM Card?
ATMs reduce the work pressure on bank staff and avoids queues in bank premises. ATMs provide service without error. The customer can obtain the exact amount. There is no human error as far as ATMs are concerned.
Can You Transfer Money From ATM?
Yes, the transfer of funds through ATMs is widely practiced. Funds can be transferred from one debit card to another debit card or from one account to another account through ATM.
How Much Money Can An ATM Hold?
Well, this varies greatly. The average size machine can hold as much as $200,000, though few do. In off-hours, most machines contain less than $10,000.
What Are The Different Transaction Types?
The Types of Accounting Transactions based on Institutional Relationship are;
- External transactions
- Internal transactions
- Cash transactions
- Non-cash transactions
- Credit transactions
- Business transactions
- Non-business transactions
- Personal transactions
What Do You Need To Install An ATM?
There are 4 or more pre-drilled holes hidden in the base of the ATM machine that are used for mounting. Installers typically bolt the ATM down with special concrete anchors called red heads or a similar product. An ATM is then plugged into a standard 110V / AC outlet and connected to a dedicated standard phone line.
Why Is ATM Is Called Asynchronous?
Asynchronous, in the context of ATM, means that sources are not limited to sending data during a set time slot, which is the case with circuit switching, used in the old standby T1. ATM transmits data not in bits or frames, but in packets. Actually, in ATM parlance, the packets are called cells.
Is ATM Connection-Oriented Or Connectionless?
ATM and Frame Relay, for example, are both examples of a connection-oriented, unreliable data link layer protocols. There are also reliable connectionless protocols as well, such as AX. 25 network layer protocol when it passes data in I-frames.
What Is ATM Card Called?
ATM cards are known by a variety of names such as bank card, MAC (money access card), client card, key card, or cash card, among others. Other payment cards, such as debit cards and credit cards can also function as ATM cards. Charge and proprietary cards cannot be used as ATM cards.
What Are The Features Of Modern ATM?
5 New Modern Features that are Changing ATM Banking are;
- Email receipts
- Varying bill denominations.
- Cardless ATM access
- Make a credit card or loan payments
- Live teller video conferencing
How Do You Get Cash From An ATM?
- Step 1: Insert ATM Card
- Step 2: Select Language
- Step 3: Enter 4-Digit ATM Pin
- Step 4: Select the type of Transaction
- Step 5: Select the Type of Account
- Step 6: Enter the withdrawal amount
- Step 7: Collect the Cash
- Step 8: Take a printed receipt, if needed
How Do I Get Large Amounts Of Cash From An ATM?
- Request a temporary increase in your daily limit.
- Use a debit card cash advance to withdraw funds.
- Get cash back with a purchase at the store.
How Can You Generate Your ATM PIN?
Call the customer care number of the bank that an account holder holds with. Get the ATM PIN via SMS by sending the message code provided to the specified number (for SMS Banking). An account holder can also visit the nearest bank to request to generate an ATM PIN.
How Do Visa Gift Debit Cards Work?
A Visa gift card is a non-reloadable, prepaid debit card. Once it’s activated, the card works just like cash. The cardholder can use it to shop or make a one-time bill payment anywhere that accepts Visa for as long as a balance remains. The gift cards are available at banks and retail stores.
Is It Okay Not To Change ATM PIN?
Bankers and cyber experts advise that ideally an ATM PIN should be changed every three to six months.
What Happens If I Enter Wrong ATM PIN 3 Times?
If you have entered your ATM PIN wrongly in three attempts, then the card gets automatically blocked. It will get automatically unblocked after 24 hours and you can use it after the said time.
Can A Visa Gift Card Be Used At An ATM?
Yes! The VISA Gift Card is accepted at most ATM/POS terminals that display the Pulse®, Plus®, NYCE®, or Star® logos.
Ever Wonder What Are The Differences Between ATM Cards, Debit Cards, And Credit Cards?
Debit Cards and Credit Cards both allow you to withdraw funds from your checking or savings account at an ATM. However, while both cards can allow you to withdraw cash, usually only a debit card has a Visa or Mastercard log allowing it to be used to purchase goods and services. An ATM card can only be used to withdraw funds from your account.
Can You Apply For ATM Card Online?
Yes, if you have an online account with your bank, then you can easily avail of the online service to apply for your new ATM cum Debit Card without visiting the branch. You just need your login credentials and bank profile password to apply for a new ATM Card online.
What Role Does Internet Service Provider (ISP) play in ATM Transactions?
The internet service provider (ISP) plays an important role in ATMs. This provides communication between ATM and host processors. When the transaction is made, the details are input by the cardholder. This information is passed on to the host processor by the ATM. The host processor checks these details with an authorized bank. If the details are matched, the host processor sends the approval code to the machine so that the cash can be transferred.
Is It Possible That The Bank Will Block Your Card Due To Input Of the Wrong PIN?
Yes, of course, if you input the wrong PIN for three times, your ATM card will be blocked for at least 24 hours.
How Do Cardless ATMs Work?
To use cardless ATM, you need to open the app on your mobile device, choose the linked bank account you want to withdraw from, and tap your phone against the designated reader. To complete the transaction, the ATM will then prompt you to either type in your PIN (just as if you had inserted your physical card).
Can I Get Cardless Cash From Any ATM?
You can only get cash from an ATM without a debit card when you use an ATM owned by your bank that has a cardless cash or contactless feature.
What Is a Standalone ATM?
Stand Alone ATMs are not connected with any ATM network- hence their transactions are restricted to the ATM’s branch and link branches only. The opposite of Standalone ATMs are Networked ATMs, which are connected to the ATM Network.
Can You Use Your Phone To Withdraw Cash From ATM?
Yes, you can use your phone to withdraw cash from an ATM, and here are the steps to follow;
- Open your mobile banking app and locate a cardless ATM near you.
- Request your withdraw.
- Click on the Mobile Cash Access option on the ATM.
- Use your phone to scan the QR code on the ATM’s screen.
- Grab your cash from the ATM.
Can I Use Current Virtual Card At ATM?
The Current debit card can be used anywhere Visa is accepted in the US, including at online merchants. You can also withdraw funds from any ATM that bears the Visa Interlink or Maestro logos. There are no additional fees for using or funding the card except when traveling internationally.
How Is ATM Hacking Prevented?
Banks can prevent ATM hacking by changing the default password in new ATM machines to prevent criminals from guessing the password.
How Do You Buy Gas With An ATM Card?
Enter the PIN (personal identification number) for your ATM card when prompted to do so. The PIN is the number you set up to use at an ATM machine at your bank and consists of four digits. Pump the gas once the card is accepted. Fill up the gas tank or fill up the gas to the preferred number of gallons.
What Is The Daily Cash Withdrawal Limit Through The ATM?
This will to a large extent depend on who you bank with. But generally, ATM cash withdrawal limits can range from $300 to $5,000 per day. Individual banks and credit unions set their own limits. Your personal ATM withdrawal limit also may depend on the type of accounts you have and your banking history.
How Do I Activate My New ATM Card?
- Once you get your welcome kit from the bank, along with the Debit Card, there is an ATM pin given in a sealed envelope.
- When you go to the ATM, enter your Debit Card and enter the ATM pin provided in the welcome kit.
- Change your ATM PIN and use the card henceforth for regular transactions.
When Was The First ATM Invented?
In the U.S., Dallas-based engineer Donald Wetzel pioneered the development and deployment of the ATM, with the first being installed at the Chemical Bank branch in Rockville Center, New York, in September 1969.
How Many Times Can An ATM Card Be Used In A Month?
Normally, banks allow up to five free transactions per month at their own ATMs, and three free transactions at other banks’ ATMs. If you exceed these limits, you may end up paying. The charges can vary depending on the type of transaction.
Which Is Better ATM Or Debit Card?
Well, it depends on the angle you are looking at it from. But purchases made using a credit card are safer compared to a debit card. This is because any fraudulent transaction made using your debit card leads to funds being deducted directly from your own bank account. Also, debit cards don’t come with protection against fraud.
What Is The Security Code On A Visa Credit Card?
The card security code (CSC) is usually a 3 – or 4 – digit number, which is not part of the credit card number. The CSC is typically printed on the back of a credit card (usually in the signature field). On some cards, all or part of the card number appears before the CSC, for example, 1234 567.
Which Bank Is Best For ATM Card?
- Axos Bank: Best bank for free domestic ATM access.
- Radius: Best for free domestic ATM access.
- Alliant Credit Union: Best credit union for free domestic ATM access.
- Charles Schwab Bank: Best bank for free international ATM access.
- Citibank: Best brick-and-mortar bank for free domestic ATM access.
What Is White Label ATM?
White Label ATM (WLA) companies are service providers who can set up independent ATM networks, which plug into the banking network and allow customers of any bank to withdraw funds. In return, they would get a fee from the card-issuing bank.
Where Can You Use Your Visa Gift Debit Card?
You can use your gift card anywhere Visa is accepted, supermarket, gas station, and even online. And you can make purchases up to the amount that’s on the card.
How Is CVV Calculated?
To calculate a 3-digit CVV, the CVV algorithm requires a Primary Account Number (PAN), a 4-digit Expiration Date, a 3-digit Service Code, and a pair of DES keys (CVKs). One CVV variant, now commonly called CVV2 (Visa), or Indent CVC (MasterCard), uses ‘000’ as the service code parameter to the CVV algorithm.