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Financial Inclusion
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Financial Inclusion
Micro ATM
Bringing banking to your fingertips, no matter where you are.
Key Features of Micro ATMs
Portability: Lightweight and easy to use, enabling door-to-door banking services.
Secure Transactions: Powered by biometric and PIN-based authentication.
Wide Accessibility: Operated by local agents, bringing banking services to remote areas.
Multiple Payment Options: Supports transactions through Aadhaar, debit cards, and mobile numbers.
Low-Cost Solution: Affordable infrastructure for banks to expand their reach.
Services Offered by Micro ATMs
Cash Withdrawals: Withdraw money from your bank account using your Aadhaar or debit card.
Deposits: Deposit cash into your bank account conveniently.
Balance Inquiry: Check your account balance instantly.
Fund Transfers: Transfer money between accounts within seconds.
Mini Statement: Access recent transaction details.
Bill Payments: Pay utility bills directly via Micro ATMs.
How Does a Micro ATM Work?
Customer Verification: Authenticate using biometric data (Aadhaar) or a debit card and PIN.
Choose a Service: Select the desired service—cash withdrawal, deposit, balance inquiry, etc.
Transaction Execution: The banking correspondent completes the transaction using the device.
Real-Time Update: Transactions are updated instantly in your linked bank account.
Frequently Asked Questions (FAQs)
Q1: Do I need a bank account to use a Micro ATM?
Yes, you must have a bank account linked to Aadhaar or a debit card.
Q2: Is there a transaction limit for Micro ATMs?
Yes, transaction limits are subject to RBI guidelines and the policies of the corresponding bank.
Q3: Can I withdraw money without a debit card?
Yes, if your Aadhaar is linked to your bank account, you can authenticate using biometric verification.
Q4: Are Micro ATMs available 24/7?
Availability depends on the operating hours of the banking correspondent or merchant.
Q5: Is it safe to use Micro ATMs?
Yes, Micro ATMs are secure, using biometric or PIN-based authentication to prevent fraud.