There are two main types of Automated Teller Machines (ATMs):
- On-premises ATMs: These are ATMs that are owned and operated by a bank or financial institution and are located on the premises of the bank, such as inside a branch or lobby. These ATMs typically offer a full range of banking services and may have longer operating hours than the bank itself.
- Off-premises ATMs: These are ATMs that are not located on the premises of a bank or financial institution, such as in shopping malls, convenience stores, or other public locations. Off-premises ATMs are often owned and operated by independent companies, although they may be affiliated with a particular bank or network. These ATMs may have more limited banking services, and may charge additional fees for transactions.
Both on-premises and off-premises ATMs offer the same basic banking functions, such as cash withdrawals, deposits, and balance inquiries, but may differ in terms of accessibility, convenience, and fees. On-premises ATMs are typically more secure and may offer a wider range of services, while off-premises ATMs are more widely distributed and may be more convenient for users who need access to cash or banking services outside of normal business hours.