TYPES Of ATM
Static GK | General Studies
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| Types of ATM |
Static GK is the most important chapter along with subjective GK. In this topic we are sharing types of ATM and their functions in a short notes. It will help to grow your general knowledge for Competitive exms. So go through silently and improve your knowledge.
TYPES OF ATM
ATM stands for Automated Teller Machine, is a machine that lets you get cash from your bank account without visiting a teller. Some ATMs are simple cash dispensers, while others allow a variety of transactions such as check deposits, balance transfers, and bill payments.
TYPES OF ATM ( Automated Teller Machine ):
White Label ATMs (WLAs): ATMs set up, owned and operated by non-banks (i.e NBFCs) are WLAs. Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by RBI.
Green Label ATMs – ATMs for agricultural transactions.
Orange label ATMs – ATMs used for share transactions.
Pink Label ATMs – ATMs that are meant only for women (ease their banking).
Yellow Label ATMs – ATMs meant for E-commerce facility.
Brown Label ATMs – ATMs that are outsourced by a bank to a third party (based on the concept of sharing the cost).
Biometric ATMs – These are ATMs that use security features like fingerprint scanner and eye scanner of the customer to access the bank details.
Onsite ATMs – ATMs that are located inside the bank’s premises.
Offsite ATMs- ATMs that are located in various places except inside the bank’s premises.
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