ATM or Automated Teller Machines or Automated Banking Machines(in Canada) is an E-banking machine which performs financial transactions without the help of a Bank Employee. Exampundit won’t confuse you with tough words instead we will use basic logic and words to describe.
ATM Usage Growth(Non-economical Cause):
In the recent years, the trend of ATM has grown all over India. Now there are many economical/financial expert analysis on the growth of ATM usage, especially in Urban Areas but What are the very basic non-economic causes of the rise?
Now in the urban areas, people usually avoids the Branch unless it is necessary. Hence, people in a large amount who are living a busy scheduled life, usually prefers the ATMs.This is an original exampundit content. Now, this is not an expert analysis, but a very basic concept which any interviewer can ask you.
Trivia: For every 10 lakh of its population, the US has 1,390 ATMs, UK has 530 ATMs and China has 211 ATMs, while India has only 98 ATMs for the same number of people.
Types of ATMs in India:
Basically there are 3 types of ATMs by nature are there in India. ATMs which are owned by Banks, Brown Label ATMs and White-Label ATMs. On the other hand, we have 3 types of ATMs by Location.
ATMs by Nature of Installation:
Bank ATMs: The ATMs which are Owned, Managed, Installed by Banks. The most common, you see in the Bank Branch building.
Brown-Label ATMs: Now, Brown-Label ATMs are little different from Bank ATMs. They are outsourced to a company, who manages, installs and look after the ATMs. However, these ATMs has a Logo of the Bank in it, which makes sure, that ATM is installed by the Bank. Mostly these were used by Private Sector Banks in India.
Some of the High-Tech Brown-Label ATMs swallows the Card till the transactions are over. You can check them out in metro cities under various famous banks like, Standard Chattered, HDFC, Yes Bank, ICICI Bank.
White-Label ATMs: White-Label ATMs are similar to Brown-Label ATMs except the fact, they don’t have any Bank Logo in them. Now, Tata Indicash, currently famous WLATM, do have a logo of Indicash in it. Now, if they don’t have anything written in them, then how will we understand its a ATM? Isn’t it? Also WL-ATMs has Advertisements which Brown-Label or Bank ATMs NEVER HAD.
ATMs By Location:
Onsite ATMs: Onsite ATMs are the ATMs we see with the Branch Building. When you get into HDFC or SBI, you will often see ATMs. These are Onsite ATMs.
 |
| Stand-Alone ATM |
Offsite ATMs: Offsite ATMs are the ATMs we see in some separate house/building. These ATMs are not attached to the bank branch building but in the areas of Bank Branch.
Stand Alone ATMs: Stand-alone ATMs are similar to Offsite ATMs except the fact, they are just the Machines and Nothing Else. Now where do we see them? We usually go to Supermarkets or Shopping Malls, and we notice ATMs. They are the most common example of Stand-Alone ATMs.
So, we hope you like the article. Now share it with friends, and study it.
Also read: White Label ATMs
Regards
Team ExamPundit
