Types Of ATM Machines

There are various diverse types of ATMs on the off chance that you’re hoping to lease one for your retail or general business organization. The choice of an ATM will mostly depend on the intended purpose, the type of business, the specific business location and the type of disbursement you intend to facilitate. All these considerations are necessary and will be used to differentiate your ATM need to either the conventional ATMs used by banks and financial institutions or a common cash dispenser. There are also government and financial institutions regulations which should be considered when deciding on the type of ATMs to install and use for a specific purpose.

Below are some of the available options when choosing an ATM for your business and finding the right atm manufacturer:

ATM machine types1. On-location ATM

This is a banking machine installed to perform tasks such as money withdrawal, deposit, and any other bank-related services. They are installed mostly inside premises and bank offices. Since they are installed inside the bank premises, they may not require additional security besides what is provided for the larger bank.

2. Off-site ATM

The off-site ATMs are installed as a bank or financial institution branch to perform tasks that can be done remotely without the intervention of a bank staff such as issuing change, money withdrawals and other related bank exchanges. This would be at a remote space leased or acquired by the bank. The ATMs are installed, operated and maintained by the specific banks with remote monitoring employed to manage cash top-ups to the machines and also as a security measure. The Off-site ATMs may require additional security depending on the location.

3. Worksite ATM

This could be either an ATM installed by an organization to serve its employees or installed by the financial institution for the same purpose buy serving even non-employees. The key point is that the ATM is mostly authorized by the bank and co-managed by both the bank and the organization. This ATM is mostly installed by the banks but the employer has to prove that they have sufficient workforce to require a worksite ATM. The bank might decide to install the ATM with the intention of serving other clients within the said proximity besides the employees. However, if the organization has a sufficient number of employees to exclusively utilize the services then the ATM will be installed to serve that specific purpose.

Financial institutions earn revenue from the transaction charges on using ATMs besides making accessible their services even remotely and so no matter the type of ATM it should be noted that a business value must be met.