These ATMs are used for all transactions related to the trading of shares. These ATMs are not directly owned by a financial institution but are leased to provide ATM facilities in various places. These ATMs are provided to assist people with e-commerce transactions. These are set up and operated by Non-Banking Financial Companies (NBFCs) and offer the most popular ATM services. Other than this, ATMs are differentiated on the basis of their origin and purpose. On-site ATMs are those which are available inside a bank’s compound, whereas an off-site ATM is located in other places, without the presence of a bank branch. Types of ATMs:Īll ATMs are mainly of two types – on-site and off-site. ![]() ![]() In this article, we have explained the basics of an ATM, followed by the simple procedure of how to withdraw money from an ATM so that one can be well aware of the withdrawal process. While an ATM has become a familiar term, the usage of this machine is still a confusing task for many, especially in rural areas, where financial inclusion is still a new concept. ![]() Apart from these services, depending on the location and bank, each ATM offers a combination of various services apart from the basic withdrawal of cash.
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