ATM Near Me

Most people have smartphones and an internet connection these days. You should make the best use of it. The easiest way to find an ATM is to visit the respective bank’s website and use the option of ATM locator. To use that option first you have to tell your location and then the application shows you the number of ATMs of the respective bank. This facility is available on almost every public and private sector bank’s website.

You can also try and search on Google Maps and some other websites that specialise in finding ATMs. Google Maps can also tell you about the private ATMs that are independent and are not registered with any bank. Both these options can be utilised if you cannot find suitable results in the ATM finder application of bank’s website.

People use ATM every now and then but most people do not know their complete capability or their types or even their full form. Young generation also refers to ATM as Anytime Money and this is quite true technically but there is certainly more to know. This article is written from the very perspective of providing complete information about ATMs.

As explained previously, ATM stands for Automated Teller Machine that is most certainly is more than just a cash dispensing machine. ATMs were primarily developed for cash disbursement only but as the banking operations streamlined and integrated with modern technology, ATMs started functioning to their full potential.

Now, ATMs are more than cash dispensers. You can use it for multiple other banking operations as well such as cash deposit, fund transfer, mobile/DTH recharge, ATM PIN change, generating bank statements, utility bill payment, ticketing, etc. This versatility of ATMs makes them a modern amenity.

ATMs can be divided into two types on the basis of their operations and ownership. These can be further segregated into several sub-categories.

According to Operation: ATMs can be divided in two sub-categories on the basis of their operations.

• Basic ATM: Basic ATMs are the one that perform simple operations of cash dispensing. They do not have extended list of options and have a relatively simple user interface.
• Complex ATM: These ATMs allow users to access a wide range of complex operations such as fund transfer, cash deposit, account information, and facilitating credit payments and bill payments, among others. A person has to be the account holder in that respective bank to be able to use all the range of options available in these machines. Some of the more advanced of these ATMs have additional features such as mobile or DTH recharge, booking tickets, etc. Such features allow businesses to save money on hiring sales staff. They also ease the workload from various business offices.

According to Type of Ownership: There are 3 sub-categories of ATMs if looked at on the basis of their ownership.

• Bank ATM: The ATMs in this segment are owned, deployed and managed by the banks by themselves. These machines usually have the names and logo of the owner bank on the ATM and in the premises. They offer all facilities that are usually provided by the bank and which can be delegated to an automated process.
• Brown Label ATM: Brown label ATMs are leased by banks from third parties. A private enterprise owns the ATMs, maintains them, and leases the premises and pays the rent. The outsourcing bank provides the necessary cash for the ATM. These ATMs usually have a logo of the sponsor bank. Brown label ATM owning firms do not have any obligation to deploy a specific number of machines in designated locations, which is a requirement for white label ATMs. RBI is not directly involved with these private companies as they are in contractual relationships with the sponsor banks.
• White Label ATM: These are machines are owned and operated by non-bank entities. They are not part of any outsourcing contract with any banking organisation. These automated teller machines have a logo of the parent company and their cash is provided by the sponsoring business. The company that owns these ATMs is obligated to open a specific number of machines in certain locations. Moreover, the Reserve Bank of India works closely with such firms. Permissions and licenses are required to offer a white label ATM.

Using an ATM is easy. The first requirement for using an ATM is to have a debit/credit card or ATM card issued by the bank. The cards are linked to your credit/debit account. Your account information is encoded on the magnetic strip located at the back of the card. You just need to swipe or insert the card and you can see various options on ATM screen.

Some ATMs are touch-screen enabled whereas the others require manual operation. You can choose any of the displayed options as per your requirements. To confirm any operation, you have to enter the 4-digit ATM PIN (Personal Identification Number) issued by the bank. You can also change that PIN as per your convenience. Your ATM PIN is a safety feature that protects your card from any type of misuse. This is the primary reason why banks always instruct their customers to not tell their PIN to anyone, even close family members as the data once lost or divulged can lead to far reaching repercussions. Also, nobody can use your card to take out cash without knowing your PIN even if you lose your card.

ATM card and debit cards are protected by PIN but in the hands of a criminal, your PIN cannot protect your bank account as they have ways to hack your details. That is why your first course of action should be to block the card if in case you lose the card. It is smart to record your card numbers and account numbers and keep them safe to handle situations like these.

A few steps detailed below will help you deal with such situations.

• Call your bank’s customer care or respective bank branch and inform them of the problem.
• The bank will block and deactivate the card as soon as you give them required information and issue you a new card within a matter of a few days.
• File a FIR with the Police reporting the missing or stolen ATM card. You can use mobile banking for such situation as you will receive alerts about expenses or cash withdrawals from the card. Report the expenses and withdrawals with their exact date and time to the customer care of the bank.

After informing the bank, you will not be liable for expenses or withdrawals made from your card. According to the RBI circular, banks have a zero liability policy which means you do not waste any money if you have filed the report of the incident within the stipulated time. Also, banks are required to protect their customers against frauds and have the means and reach to do so.

ATM cards or debit cards issued by the bank are usually free of cost but banks charge a certain amount of fee for withdrawal of cash. Each bank has a different policy for its ATM usage charges and they may vary across several grounds.

Most banks offer a few free transactions both on their own and other bank ATMs while some do not charge you for ATM usage at all. Most foreign banks which do not have a large branch network do not charge you for withdrawals at other banks’ ATMs.

Here is a brief look at ATM charges of popular banks.

Bank	Free Transactions (per month)	Charges (After Free Transactions)
SBI	5 transactions at SBI ATMs and 3 at ATMs of other banks	Rs. 25 per transaction
HDFC Bank	4 transactions are free	Rs. 150 per transaction
ICICI	Free transaction and balance inquiry at all ICICI ATMs	Rs. 25 per transaction for transaction and balance inquiry at ATMs of all other banks
Kotak Bank	Unlimited at own ATM and 5 free transactions at other bank ATMs	Rs. 20 per transaction
DBS	Unlimited for every ATM	None

ATMs offer a wide range of benefits to all the cardholders which cannot be compared to anything at all. Saying that the ATMs will significantly reduce the manpower requirement for day to day jobs in both government and private offices in the future, would not be an overstatement. Here are a few points that clearly state the benefits offered by ATMs.

• Fast and Easy to Use: ATMs are fast mediums of cash withdrawal and various other banking and non-banking operations. These are also easy to use. Any person who is literate and is able to read the text on the screen can use it. With a minimal movement of your fingers you can get the job done within minutes.
• 24×7 Service: ATMs are active and available 24×7 and 365 days of the year. Banks are usually closed on weekends and public holidays but not ATMs. This is a major benefit as in the event of an emergency where you need immediate cash, you do not have to wait for the bank to open. You can swipe your card and withdraw money as per your daily withdrawal limit.
• Self-Service: An ATM requires no human-intervention apart from giving instructions. You do not have to be a computer expert to operate an ATM. Any person having a bank account and a debit card can use it comfortably. This develops a feeling of self-reliance. After all, it is your hard-earned money and only you should possess the right to access it.
• Reduced Workload on Bank Staff: More ATMs means reduced workload on bank staff. Banks used to have long waiting queues for cash withdrawal and deposits but with a strong network of readily available ATMs, you are now free to withdraw or deposit cash from whichever ATM you want. This increases the productivity of the bank staff and gives them time to attend important financial operations that require strict human involvement.
• A Blessing for Travellers: ATM is a boon for travellers as they do not have to carry too much cash at one point of time. They can withdraw cash from any place in any city or region in any part of the world. Whether they are travelling domestically or aboard, using ATMs is always better as ATMs offer better exchange rates as well.
• No Margin of Error: ATMs do not make mistakes. You may write wrong account number or amount in the withdrawal slip while withdrawing cash from a bank. However, you do not have to enter such details in ATMs. All you have to do is to swipe your card and enter your PIN. The right PIN confirms your transactions and a wrong PIN fails your transactions. This significantly eliminates the margin of errors while using ATMs.
• Privacy and Safety: Unlike banks, ATMs offer you privacy. In a bank, anyone who is watching you filling up the withdrawal/deposit slip knows how much cash you are carrying. On the other hand, only one person at a time is allowed in the ATM. This means that only you know how much money you are carrying at the time. In addition, ATMs are equipped with CCTV surveillance and security guards who are there to aid you in an emergency. In the case of a malfunctioning ATM, you can complaint the respective bank for prompt assistance.