Over the past five years, the average ATM withdrawal fee has increased by 21 percent. As of 2015, the average ATM fee is up to $4.52, ATMs fees however can vary from place to place. ATMs users visiting out-of-network ATMs (any ATM not affiliated with the person’s bank) pay a fee to access money from the machine. In October, 2015, USA Today commented that many people don’t realize that ATM fees are actually two fees in one; both the customer’s bank charges a fee for accessing an ATM outside of their network, and the ATM owner charges a second fee to use the machine. Consumer ATM use has declined in recent years, which partly explains the rise in fees. Debit and credit card use have also contributed to the downturn in ATM use. Although some consumers find other ways of accessing their cash, ATM use remains strong, in part because cash continues to play a big role in consumer spending habits. The average consumer visits a machine over seven times a month, withdrawing an average of 60 dollars.
With over 400,000 ATMs across the United States, ATM owners have to compete for customers. More than half of all ATM owners are independent ATM deployers, not bank-affiliated ATMs. The average machine has around 800 transactions per month, but the number of consumers using a particular machine can vary widely according to location and consumer need. ATM owners may lower or raise fees depending on the number of customers visiting their ATM, competition from neighboring ATMs, to increase revenue from the machine, or even to help offset the costs of maintaining the ATM.
From purchasing an ATM, to installation, maintenance, cash loading, and all the other needs for maintaining an ATM, getting into the ATM business can be intimidating for newcomers. Fortunately, you can turn to America’s ATM for guidance and support. America’s ATM provides businesses with ATM solutions, marketing products, and financial service kiosks. America’s ATM makes ATM ownership easy for busy business owners by providing you with a free ATM through either the Free ATM Placement Program, or the Free ATM Partner Program. If you prefer to outsource the care for your machine, America’s ATM can also provide ATM installation, programming, maintenance, processing, and cash loading. Business owners can also purchase and maintain their own machine and have America’s ATM handle the ATM processing. Visit the America’s ATM website to learn more about the company, http://americanatm.com/, and call 877-475-1104 to find ATM solutions for your business.