Thinking about buying a used ATM? Well before you make that craigslist purchase, here are some tips advice from the experts at Best Products.
Pictured above are two ATMs that can not be upgraded for EMV compliance. The Triton 9100 needs a new keyboard before the EMV kit can be installed make it too costly, and the Cross/Tranax MB 2100 is too old, no upgrade is available.
Compliance – Probably the most important factor when buying a replacement ATM is making sure the ATM is compliant with todays standards. For one- the ATM should be ADA compliant. Meaning that it should have a headphone jack, and its highest touch point be no higher than 48″ off the ground. Secondly- EMV compliance or EMV upgradable. If you are buying a used ATM, most likely you can assume it is not EMV compliant. That’s fine- as long as an upgrade kit is available for a price that makes sense. Click here for more Information on EMV compliance.
Know before you buy– ATM standards change so quickly that the manufacturer’s had to adopt new technology quickly. As a result you may have one particular model that was made for a number of years- but that model was different year one, than the last year of production. That being said- certain models of the same product line can not be upgraded, where others can be. For example the most popular used ATM in the US today is the Hyosung MB 1500. An upgrade for this unit is available however it is close to $1000. So you wouldn’t want to pay more than a few hundred dollars for this machine if it is not EMV compliant already. Secondly- the 1500 has two keyboard versions. The older style used ATM (with the enter key on the bottom right) is not upgradable. The newer style is. So it makes sense to know before you buy- what you are buying. If you have any questions- please by all means give us a call. We don’t like to be the ones to tell you that the used ATM you just purchased is not upgradable and you just wasted however many hundreds of dollars. Another popular model is the 1800. This model had three versions, the 1800, 1800SE, and 1800CE. The 1800 is not upgradable for EMV where the SE and CE are, however all three look the same to the unknowing buyer.
Age and Condition– The old saying you cant judge a book from its cover does not apply when checking the condition of a used ATM machine. The used ATM should look slightly worn, all rubber parts in the cash dispenser should be firm, not soft or spongy. Check the manufacturer build sticker to get the manufacturing date. ATMs are built to last approximately 7 years with normal usage however most last longer. So a 10 year old ATM is on its last legs and will need a major refurbishment.
Check to make sure the ATM works – This may seem obvious- but plug the ATM in, turn it on, and test everything you can test. Most models have diagnostic functions that allow you to test the printer, the dispenser, the card reader, the keyboard etc. If something does not function- you probably shouldn’t buy it, unless you know how much it will cost to repair. For example- we constantly see ATMs on craigslist with broken keyboards, or printers. Keyboards are close to $500, and printers can be over $700. These are very expensive to repair. So unless you are buying the machine for parts….don’t buy it. Always keep in mind that the person selling it- is selling it for a reason.
What to Pay- This is the magic question that there is no certain answer. We can say that a used ATM that needs an EMV upgrade should sell anywhere from free to $1000 in that range depending on the make/ model. The best advice we can tell you is know the price of the EMV kit before you make an offer on the used ATM machine and also test the ATM to make sure everything works. With new Hyosung Halo II ATMs selling for around $2100 with a 30 month warranty, it doesn’t make sense to have too much tied into a used ATM just to save a few hundred bucks.
Our Recommendation is to always buy an used ATM through a reputable ATM company like Best Products. You will pay more but its like buying a used car cash from a stranger, or buying a quality pre-owned car from a dealer with a warranty. Companies like ourselves source quality used machines normally from our own inventory of ATM placements, we know the history of the ATM, we typically paint them, clean them up, and upgrade them to be compliant. We repair or rebuild cassettes, cash dispensers, and sell the machines with a warranty. Yes- you will pay more for the unit than someone on craigslist- but we guarantee it to work, be compliant, and be headache free for years to come.