How can I apply for micro ATM?

Registration Process Oxigen shall contact you on the phone and all the required documentation shall be completed through an e-sign process. You need to pay INR 11,800/- at the time of document submission to further process the application towards RBL approval.

How do I rent a store ATM?

Your property should be in a commercial area. The property should be 60 to 100 square feet should be the surface area. For ATM installation the sealing should be made of concrete, for B-set setup. You should be holding NOC for B-set installation or a written application signed by all the residents of the building.

Which bank started first micro ATM?

Kotak Mahindra Bank Ltd (KMBL) today announced the launch of Micro ATMs across the country. Customers of all banks who possess a debit card can use a Kotak Micro ATM for key banking services such as cash withdrawals and checking account balances.

What is micro ATM distributorship?

Micro ATM meant to be a device that is used by a million Business Correspondents (BC) to deliver basic banking services. Customers would just have to get their identity authenticated and withdraw or put money into their bank accounts. This money will come from the cash drawer of the BC.

How can I get ATM franchise?

You can apply for the ATM Franchise online by visiting the official websites of all the companies. A report of businessleague.in revealed that you get Rs 8 on every cash transaction and Rs 2 on non-cash transactions. The return on investment ranges from 33-50\% on an annual basis.

How do you install an ATM machine?

Prerequisites for ATM installation franchise

1. It should be a commercial property at a strategic location, measuring 60 to 80 sq ft.
2. 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).

Which bank launches micro ATM in India?

Kotak Mahindra Bank
Kotak Mahindra Bank launches Micro ATMs across India. Current Affairs » Kotak Mahindra Bank launches Micro ATMs…

Which banks are setting up micro ATMs in India?

Among banks setting up micro – ATM points are private sector lenders such as IDFC Bank, Yes Bank, RBL Bank and Andhra Bank. Micro ATMs are card swipe machines through which banks can remotely connect to their core banking system. This machine comes with a fingerprint scanner attached to it.

What is a Micro ATM and how does it work?

Micro ATMs are card swipe machines through which banks can remotely connect to their core banking system. This machine comes with a fingerprint scanner attached to it. In other words, micro ATMs are handheld point of sale terminals used to disburse cash in remote locations where bank branches cannot reach.

How do I get a micro swipe machine?

For getting micro Swipe machine from centralised bank which is also know pos machine, you need current bank account in bank, then write a application regarding pos machine and instant anywhere atm in your bank, you will get pos machine easily for taking money inspite of service but for gettin

https://www.youtube.com/watch?v=gmAjpeKmvDA