Repair or Replace ATM
Should I Repair or Replace my ATM?
Just like any machine, from your personal vehicle to the refrigerator in your home, the question “Should I repair or replace” is asked many times. The same goes for either repairing your ATM or replacing your ATM.
Most of the time, simple ATM maintenance can prevent costly repairs or the immediate need to replace your machine. In this case, the answer is almost always to repair.
But what happens when there is something more than maintenance needed? Should you repair or replace your ATM?
How Old is Your ATM?
Once again, think about your car. Let’s say it’s 10 years old and needs a new water pump, alternator, and the struts could use replacing. Major repairs like these on a car this old usually warrant a replacement, as opposed to performing all the repairs.
If your ATM is more than 10 years old, chances are it is time to replace it should anything fail.
Many older ATMs do not offer all the required or preferred security features such as ability to accept EMV and download the latest software upgrades. All new ATMs are internet ready. Older ATMs can only use phone lines or wireless devices which are more expensive and process transactions much slower. Phone lines or wireless devices can add $360 to $500 dollars of cost to each ATM annually.
Besides security concerns, consumers also prefer ATMs that are aesthetically appealing and offer quick, easy transactions. Picture yourself as a consumer with 2 ATM options. One is an old, outdated machine and the other looks brand new with a large color LCD screen. Which ATM would you choose to use? Consumers like their gadgets. It doesn’t stop with ATMs.
Common ATM Repairs
Whatever the age of your machine, especially if it is new or relatively newer, repairing your ATM can be the most cost-effective solution. Some of the most common ATM repairs or replacements needed are the:
- Cash Dispensing Mechanism
- Receipt Printer
- Power Supply
- Card Reader
- Display
- Keypad
- Electronic Circuit Boards
With the exception of the cash dispenser, these are relatively inexpensive items to replace when compared to purchasing a brand new ATM. Therefore, if one of these items are needed for your ATM, most times the best option is ATM repair. Cash dispensers often require a good cleaning and then will be as good as new. A qualified tech can clean a dispenser on location.
The other factor to consider is whether or not you can repair the ATM on your own or if you will need a qualified ATM service provider like Lieberman Companies who can repair and maintain the ATM machine for you. Either way, there are cost factors involved but the rate paid for a qualified technician repairing your machine correctly, the first time, may be far less than the time invested on your part. Especially if you aren’t 100% sure on how to exactly fix or replace the failing ATM part.
Repairing or Replacing an ATM Questions
If you are still unsure if the best option is to repair or replace your ATM, let the ATM service specialists at Lieberman help guide you. Our team will be more than happy to help you weigh out all the “pros and cons” to both ATM replacements and ATM repairs, and help you decide the best option for YOU!
We are located in the Minneapolis/St. Paul area, but have nationwide ATM service and sales.
Inquire with our Certified ATM Service Center, contact us at 952-887-5285, or simply fill out the form below to get started.