- Cash deposit
- Withdraw money
- Balance inquiry
- Mini Statement
- According to bankers, the usage cost of micro ATMs is lower than normal ATMs.
- ATMs need at least 80-100 transactions per day to be viable as they cost lakhs.
- Micro ATMs cost less than Rs 20,000.
- Micro ATM is portable.
- Micro ATMs have connectivity through GSM, so they can travel from one village to another.
- A micro ATM works just like a normal ATM machine
- Micro ATM will display various transaction options.
- You have to select the option and the device will process the transaction.
- Then you have to swipe your card and enter your ATM PIN code.
- On successful transaction, a message will be displayed on the screen and a print receipt will be generated.
- You will also receive an SMS notification from your bank about the transaction.
- Banking services can be extended anywhere in remote areas using micro ATMs.
- It is a low-cost alternative to existing ATMs.
- Micro ATM is a portable device.
- Easy to carry, easy to setup anywhere in remote areas.
- Interoperable device and can work for any bank.
- A micro ATM can ‘never’ dispense money. So if the bank correspondent is unavailable or the shopkeeper has closed the shop, the account holder will not be able to do any financial transaction.