Get Non-bank Atm Registration

White Label ATM: ATMs set up, owned, and operated by non-banks are called white label ATMs. They are authorized under the Payment and Settlement Systems Act, 2007, by the Reserve Bank of India.

One fee may be charged by your own bank usually referred to simply as an 'ATM Fee' and the second fee by the company whose ATM you are using typically called an 'ATM Owner Surcharge. ' These fees are known as a Non-Bank ATM Fees.

An independent ATM operator is a person or an entity that is in the business of owning, leasing, managing, or otherwise controlling access to the interior of an ATM, including its internal cash vault. The independent ATM operator may be the same or different from the independent ATM owner.

Your bank's non-network fee: Your own bank may also charge you a "non-network" ATM fee for using an ATM operated by another bank or institution. These charges will typically cost between $2.00 and $3.50, depending on your bank and the tier of service you're enrolled in.

Types of Automated Teller Machines (ATM) Green Label ATMs: Used for agricultural purposes. Yellow Label ATMs: Used for e-commerce transactions. Orange Label ATMs: Used for share transactions. Pink Label ATMs: Specifically for females to help avoid the long queues and waiting time.

Apply for ATM machine installation One should have at least Rs 5 lakhs of savings, to invest (this includes Rs 2 lakhs refundable deposit and Rs 3 lakhs investment to manage and undertake the daily ATM operations). One should have sound personal, as well as business credentials.

White Label ATM means ATMs that are set up, owned and managed by companies other than banks. The Reserve Bank of India has allowed non-bank ATM operators under the Payment & Settlement Systems Act 2007 (RBI). 6.

What are White Label ATMs (WLAs)? Ans. ATMs set up, owned and operated by non-banks are called WLAs. Non-bank ATM operators are authorised under the Payment & Settlement Systems Act, 2007 by the Reserve Bank of India (RBI).