7 Ways to Ensure ATM Profitability and Protection

7 Ways to Ensure ATM Profitability and Protection

If you are planning to lease or purchase your first ATM, or are already managing a portfolio of multiple machines, you are likely concerned about protecting your investment over time. How do you increase traffic to the machine? What happens if your ATM is vandalized or robbed?

To help protect your ATM investment, we have compiled a list of best practices that address common issues facing ATM owners. By using these as a starting point, you can form a solid foundation for your ATM business and protect the long-term profitability of your machines.

Man using an ATM

1. Choose the Right Location

Choosing the right ATM location is essential for the protection and profitability of your machine. While it’s best to avoid places where the market is already saturated, don’t be afraid to inquire at establishments that already have ATMs. A bank or store with an outdated ATM may gladly enter into an agreement to replace their old machine with a newer, more secure model.

If you are a business owner interested in adding an ATM to your own establishment, it is worth considering the exact spot within the building. Make sure your ATM is positioned in a well-lit area that is visible to staff and security cameras. Be aware of the ADA requirements for ATM placement as failure to comply could result in hefty fines.

2. Secure the ATM

Ensuring the ATM is bolted into position will deter theft and tampering and is a requirement for the safe operation of the unit. Be aware of the floor material that you will be drilling into as it may require special tools. Most ATM installers should offer this service as a standard of ATM protection.

3. Get Insurance

Again, this is something that should come standard when you are ordering your machines from an ATM provider. Most insurance for ATMs will not cost much but will go a long way to protecting your investment. ATM profitability begins with ensuring all aspects of your ATM business are secure — physically and financially.

Two people examining an insurance document

4. Use ATM Monitoring Software

Most modern ATMs come equipped with monitoring software that tracks the status of the machine in real time. This way, you’ll know when cash needs to be restocked in your ATM. In addition, you’ll receive alerts if the machine is damaged or has been tampered with.

If you have been managing an ATM portfolio for some time, it is worth looking into a software upgrade for any units that have been in operation for more than ten years. ATM technology and tracking software have advanced significantly in the past decade. If your current ATM supplier is not proactive in keeping your units up to date, consider switching to a supplier that offers a more comprehensive service package.

5. Visit Your ATM Often

This may be difficult if you manage multiple ATMs spread over a wide area. Nonetheless, it is essential that your machines be physically assessed on a regular basis to ensure ATM profitability. Make sure that the space around each machine is clean and clear of obstructions. For example, a store owner may have moved a display too close to the ATM or a building renovation may obscure the visibility of the machine. You’ll want to address these concerns with the establishment’s manager, emphasizing that unobstructed ATM access is a win-win.

6. Be Prepared to Move Your ATM

This is a difficult decision that should not be taken lightly. You should do as much research as possible beforehand so that any ATM location is properly vetted before you place your machine. Over time, neighborhoods and business locations change, and even the most well-vetted spot may prove unprofitable over time. To guarantee the profitability and protection of your ATMs, you need to be prepared to remove your units from an undesirable location. 

7. Use Trusted Vendors with Proven Track Records

To keep your ATM safe and profitable, you’ll need to utilize several service providers. This is especially true if you’re managing a large portfolio of machines in multiple locations. You’ll need to rely on the staff working at your ATM’s location, vendors that maintain and replenish your machine, and armored cash transportation services just as a start.

Do your research beforehand and look at user reviews for all your service providers. Once your ATM is up and running, switching vendors could mean an interruption of service which would affect your ATM’s overall level of protection and profitability. If you need new vendors for existing machines, consider going with an ATM provider that covers all aspects of ATM servicing. This way, you can make one call to a dedicated customer care rep instead of having to contact multiple vendors to address an emergent issue.

Worldwide ATM Offers Comprehensive Service

We make ATM profitability and protection our top priority. When you choose Worldwide ATM, you are choosing a complete service provider that will help manage all aspects of your ATM business. Since 2014, we have been the global leader in ATM procurement, management, and service. Contact Worldwide ATM to explore options for your first ATM investment or to review an existing portfolio.

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