Types of ATM in India 2020

Types of ATM in India

Types of ATM in India – Find the list of bank ATMs available in India.

Types of ATM in India 2020

ATM is an indispensable part of our lives. Withdrawing cash has been made very simple with the advent of the ATM. However, digital banking has replaced a major chunk of cash transactions. This is actually a good development since digital transactions can always be traced whereas cash transactions cannot always be done so. Though that is understood, cash transactions will be here for many more years to come. And as that is the case, we think it’s good for you to know the Types of ATM cards in India. Surprised? Well, contrary to your belief, there is not merely one kind of ATM. There is a bunch of different ones. Let us see all of them one by one.

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Online ATM

This type of ATM is connected to the bank’s database 24 hours. You can’t withdraw beyond the balance you have in your account.

Offline ATM

This is not connected to the database of the bank. Even if you don’t have the required amount in your account, you will be able to withdraw it, if it falls within the prefixed withdrawal amount. For this, the bank may charge some penalty.

Onsite ATM

ATMs inside the bank compound are known as Onsite ATMs.

Offsite ATMs

The ATMs that are located in various places except inside the bank premises are known as Offsite ATMs.

White Label ATM

The ATMs that are set up by Non-Banking Financial Companies and offer services are known as White Label ATMs.

Yellow Label ATM

The ATMs that are provided for E-Commerce reasons.

Brown Label ATM

A service provider owns the hardware and lease of the machine but a bank manages the cash and connectivity to bank network. In this case, the ATM is termed Brown Label.

Orange Label ATM

These ATMs are provided for share transactions.

Pink Label ATM

Meant only for Women.

Green Label ATM

These ATMs are provided for agricultural transactions.

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