With ATMs, withdrawing cash has become very simple and accessible to all. Even though digital transactions have replaced a huge part of cash transactions from taking place, people still rely on it for various purposes. With ATMs being a huge part of our lives when it comes to getting instant cash, it's good to know the types of ATMs present in India:
- Onsite ATMs - ATMs that are present inside the bank compound are Onsite ATMs
- Offsite ATMs - ATMs that are located outside bank premises are known as Offsite ATMs
- Online ATMs - This ATM is connected to the bank's database 24 hours. You can’t withdraw balance beyond what you have in your account
- Offline ATMs - This ATM is not connected to the database of the bank. Even if you don’t have the required amount to withdraw money from your account, it falls under the prefixed withdrawal amount. The bank may charge a penalty for this
- White label ATMs are provided by NBFCs
- Green label ATMs are provided for agricultural transaction
- Orange label ATMs are provided for share transactions
- Yellow label ATM is provided for E-commerce
- Pink label ATM is for women banking