Spot the difference: Onsite & offsite ATMs
There has been an increase in the number of ATM that is being set up in India. There are different ways in which the ATM machines can be used. Arnav Pandya tells us.
Onsite and offsite ATMs
There has been an increase in the number of ATM that is being set up in India. These have been set up at different places across the country, making it more convenient for people to access ATMs for their banking needs. There are different ways in which the ATM machines can be used.
Onsite ATMs
These are ATM machines that are set up in the premises where there is a bank branch so that both the physical branch and the ATM can be used. This is known as being on site and this can be used for several purposes. Many people can use this to avoid the lines that are present in the branch and hence save on the time required to complete their transactions.
Offsite ATMs
These are the machines that are set up on a standalone basis. This means that the bank has a place where there is only an ATM machine then this becomes an off site ATM. This is done to ensure that the bank reaches out to more geographical areas and that people are able to use its services even when there is no bank branch in the area.