Although I agree in the general concept that it's cheap since the computers are doing all the work, being a mainframe developer, I can assure you that those computers aren't cheap to buy and maintain. Banks and hospitals in general are the big users of mainframes and require processors that run 500,000,000 instructions per second or faster.
I run a data center for my employer. Upwards of 30 physical servers here (lots more virtual) and another 20+ in a few additional location. At our main HQ (over in europe) we've got a few hundred more. I've also got experience developing in a wide range of languages including a few on the old IBM mainframes, although it's been decades since I did anything on them.
Consider that a "basic" server with a six core processor can exceed 100 Gigaflops and the GPUs from NVidia and AMD can go from over 200 to about 500 Gigaflops, and their latest offerings are hitting a Teraflop, a need of 500 million ops per second is not difficult to achieve with relatively average equipment. Yeah, I'm simplifying this a bit but I still stand by my skepticism that the technology costs them more rather than less to process our transactions. I believe if it really did they wouldn't be implementing it.
I just did a search on ATM costs... Found a site (ATM Depot) with real interesting stats. Taken straight from their site:
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If you don't have an ATM, you can review our ATM Machine equipment options or call us for advice.
Let's say for example you purchase a basic Tranax Hantle ATM for $2,000.00 (including shipping). You can install it yourself, but we recommend you let us arrange to have a professional install it and train your staff.
This ATM needs its own phone line (but dials a toll free number only) or set it up to use your Internet Service. We also have a Triton ATM for under $2,500. You will probably invest between $2,250 - $3,500 in good ATM machine by the time you're done installing the phone line, professional installation, signs, or anything else extra you may want for your ATM Business.
Surcharge Income - Example
Surcharge Amount - $2.00
Your income per use - $2.10
3 uses per day - $6.30
30 days - $189.00
24 months $4,536
Your income per use will always be equal to or greater than what you charge since ATMDepot shares the backend interchange based on your ATM Usage.
Even if your ATM is only used three (3) times a day and you charged $2.00 (typical US average), it would only take 12 months to pay for itself (12 month ROI) depending on the model of ATM your purchased.
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So, if their stats are legit, then an ATM is definitely cheaper than hiring another teller and potentially even a profit center. Heck if they had to replace it each year and spent 4K each time that's a far cry from a teller salary.
BTW, I find it very interesting to see the cross section of preppers and what their "day" jobs are.
