Types Of ATMs
White Label ATM
White Label ATMs are those ATMs which set up, owned and operated by non-bank entities, which have been incorporated under Companies Act 1956, and after obtaining RBI’s approval.
Brown Label ATMs
These ATMs are owned and maintained by service provider whereas bank whose brand is used on ATM takes care of cash management and network connectivity.
Online ATM
These ATMs are connected to the bank’s database at all times and provide real time transactions online. The withdrawal limits and account balances are constantly monitored by the bank.
Offline ATM
These ATMs are not connected to bank’s database- hence they have a predefined withdrawal limit fixed and you can withdraw that amount irrespective of the balance in your account.
So if you did not have balance in your account, and you went to a ‘offline ATM’ and withdrew money more than the balance – you’ll still get the cash at that time, and later on will run afoul with your bank balance.Banks may charge some penalty for exceeding your balance.
So if you did not have balance in your account, and you went to a ‘offline ATM’ and withdrew money more than the balance – you’ll still get the cash at that time, and later on will run afoul with your bank balance.Banks may charge some penalty for exceeding your balance.
Stand Alone ATM
Stand Alone ATMs are not connected with any ATM network- hence their transactions are restricted to the ATM’s branch and link branches only. The opposite of Stand-alone ATMs are Networked ATMs, which are connected on the ATM Network.
Onsite ATM
Onsite ATMs are the ATMs you find next to your Bank’s branch. They go side-by side
Or in proper terms.They are the ATMs installed within a branch’s premises.
Off-site ATM
Off-site ATMs are the ones which are installed anywhere, but not within the branch premises i.e. these are not installed next to branch. These are installed next to Shopping Malls, shopping markets, airports, hospitals, business areas etc.
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