Automated Teller Machine and Different Types of ATM

Automated teller machine ATM Machines

Automated Teller Machine commonly known as ATM is the machine used to dispense cash. One can directly go to the ATM and can take cash without spending time on the long queue at cash counters in the bank. Many people know about these facts but it’s not only the bank that operates these ATMs.

Here is the list of different type of ATMs

On-Site ATM: Traditional ATM which everyone knows. Mostly present inside the bank or in bank premises. Cash flow in them is operated by banks or the companies hired by banks.

Off-site ATM: ATM present outside banks. ATM which are present at shopping malls, roadside, buildings, remote areas, etc.

White Label ATM: RBI has provided nodes to all the NBFC (Non-Banking Financial Company) to operate ATM across the country but the ATM has to be white in colour.

Green Label ATM: Green Label ATM is the service provided by banks for the agricultural transactions. As most of the time, farmers face cash problem and to resolve this problem RBI has come up with the solution of providing green label atm.

Orange Label ATM: ATM which are used for Share Transactions. Mostly Present in the vicinity of Stock markets.

Yellow Label ATM: Special Automated teller machine ATM for E-commerce

Pink Label ATM: ATM for women bankers and as a symbol of an independent woman.

Brown Label ATM: ATMs whose hardware and maintenance service is provided by some other companies and cash in these ATMs are managed by Banks

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