answersLogoWhite

0


Best Answer

These ATMs will not be owned by any bank. Any bank ATM Card that is tagged to a service like VISA or MasterCard or any other service will be able to use the ATM and withdraw cash. These ATMs will be linked to all banks in India and will be able to service cash withdrawal requests of all customers irrespective of what bank they have an account with.

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is a Private ATM?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Whats the meaning for ATM surcharge?

An ATM Surcharge is the service charge that you have to pay for using a private ATM or the ATM of some other bank. For ex: If you have a Bank of America ATM and opt to use a private ATM machine in a shopping mall or a Chase bank ATM, then you will charged a surcharge for using an ATM that is not in Bank of America network because - the owner of the ATM would charge Bank of America for its customer taking money from their ATM


2 What are ATM interfaces and discuss their types?

ATM is a dedicated connection switching technology that organizes the digital data into 53-byte cell units and transmits them over a physical medium using digital signal technology. Some of the ATM interfaces described below. ATM Interfaces: An ATM network consists of a set of ATM switches interconnected by point-to-point ATM links or interfaces. ATM switches support two primary types of interfaces: UNI and NNI. UNI (User Network Interface) It connects ATM end systems (such as hosts and routers) or user equipment and ATM equipment for example a workstation and the ATM switch. Depending on whether the switch is owned and located at the customer’s premises or is publicly owned and operated by the telephone company, UNI can be further subdivided into public and private UNI. Public UNI: A public UNI connects an ATM endpoint or private switch to a public switch. Private UNI: A private UNI connects an ATM endpoint and a private ATM switch. NNI (Network to Node Interface) This Interface is a connection between ATM devices. Private NNI (P-NNI): A private NNI connects two ATM switches within the same private organization. Public NNI or Inter Switching System Interface (ISSI): A public NNI connects two ATM switches within the same public organization. ICI (Inter-Carrier Interface) The interface between different ATM carriers. Broadband Inter-Carrier Interface (B-ICI) DXI (Data Exchange Interface) It is the interface from ATM into legacy equipment such as routers into ATM using HDLC. Between routers and ATM Digital Service Units (DSU)


How do you find your SBI ATM password?

Passwords related to ATM machines are private and if you have forgotten yours you need to contact the provider of the ATM card.


Are the ATMs in SM Megamall have camera?

With very few exceptions, ALL bank operated ATM's do have cameras. ANd many of th private ATM's have them as well.


What is a private server in evony?

their is no private servers in evony ATM sense it is only 2 years old but eventually someone will make it


Which private bank has maximum ATMs?

ICICI bank has maximum number of atm's in india.


Describe the architecture of an ATM network?

ATM Architecture As in the case of many large systems, there are a range of components and connections involved in the ATM networks. Figure 2 shows an example network architecture. All connections in the ATM network are point-to-point, with traffic being switched through the network by the switching nodes. Two types of networks are included in the ATM architecture, Public Networks and Private Networks. Private Networks, often referred to as Customer Premises Networks, are typically concerned with end-user connections, or bridging services to other types of networks including circuit switched services, frame relay, and voice subsystems. The interface between the components in the Private Networks is referred to as the Private User Network Interface (UNI). ATM also extends into the wider area Public Networks. Interfaces between the Public and Private network switches conform to the Public UNI. Interfaces between the switches within the Public network are the Network Node Interface (NNI). Specifications for both the Public and Private UNI can be found in the ATM Forum's publication "ATM User-Network Interface (UNI) Specification." The private networks often permit the use of lower speed short haul interconnects that are useful in LAN environments, but not of great use in wider area public networks. Three types of NNI have been developed, NNI-ISSI that connects switches in the same Local Area Transport Area (LATA), the NNI-ICI, that connects ATM networks of different carriers (InterCarrier), and finally, a Private NNI that permits the connection of different switches in a private network. ( www.cellsoft.de/telecom/atmconcepts.htm)


Why would someone want to set up a private ATM?

This will be a business opportunity for the individuals/corporations setting up those machines. The RBI has given permission to those entities that set up these private ATM Machines to charge for their service. So, anyone who uses the ATM Machine to withdraw cash will have to pay a fee that will go against the service which will be the profit for the company setting up those ATMs.


What is the difference between corporate banking and private banking?

Corporate banking is the handling of money between banks and companies. Private banking is where individuals deal directly with banks, engaging in activities such as ATM withdrawals and borrowing loans.


What was the first RuneScape private server?

Frugooscape is the first private server till jagex new about it they sewed them for copyrighting the runescape game now frugooscape is know as unrealscape witch is now down for updations and terms atm.


ATM?

ATM


How will a Private ATM work?

These ATMs will not be owned by any bank. Any bank ATM Card that is tagged to a service like VISA or MasterCard or any other service will be able to use the ATM and withdraw cash. These ATMs will be linked to all banks in India and will be able to service cash withdrawal requests of all customers irrespective of what bank they have an account with.