Automated Teller Machine ATM

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An Automated Teller Machine (ATM) is an electronic banking machine that allows customers to perform basic banking transactions without the need for a teller or bank employee. ATMs are widely used by banks to provide their customers with convenient and efficient access to their accounts.

ATMs are typically located in public places such as shopping malls, airports, and train stations, as well as in bank branches. Customers can use their ATM card or debit card to access their accounts and perform a range of transactions, including:

Cash withdrawals: Customers can use an ATM to withdraw cash from their account, up to a daily limit set by the bank.

Balance inquiries: Customers can check their account balance using an ATM, without needing to visit their bank.

Fund transfers: Some ATMs allow customers to transfer funds between their accounts, or to other accounts within the same bank.

Bill payments: Some ATMs allow customers to pay bills, such as utility bills and credit card bills, using their ATM card.

Cash and cheque deposits: Some ATMs allow customers to deposit cash and cheques into their accounts.

ATMs are available 24 hours a day, 7 days a week, making it convenient for customers to access their accounts and perform transactions outside of normal banking hours. ATMs are also generally more cost-effective for banks than traditional teller services, as they require less staff and overhead costs.

Overall, ATMs are a convenient and widely used banking service that provides customers with easy access to their accounts and basic banking transactions.

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