Types of ATM :- (For Banking Exam) ------------------------------------------ 1. White label ATM: These are ATM’s which are not owned by banks but by private ATM service providers. Customers from any bank can deposit or withdraw money from such ATM,s. Your banks pay a service fee for the usage. Such entities should have a minimum net worth of Rs. 100 crore at the time of making the application and on a continuing basis after issue of the requisite authorization. 2. Brown label ATMs: The ATM is named under the brand of the sponsor bank but the ATM machine is not owned by the bank. Brown label ATM are those Automated Teller Machines where hardware and the lease of the ATM machine is owned by a service provider, but cash management and connectivity to banking networks is provided by a sponsor bank whose brand is used on the ATM.
Posted on: Thu, 14 Nov 2013 04:03:20 +0000
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