What is ATM (Automated Teller Machine)

ATM stands for Automated Teller Machine . Automated Teller Machines (ATMs) are electronic machines with many advantages to customers and are operated by him to deposit or to withdraw cash from bank. For using an ATM, a customer has to obtain an ATM card from his bank. The ATM card is a plastic card, which is magnetically coded. It can be easily read by the machine. ATMs are very common in every nook and corner of cities and major places even in villages all over the country. These machines have provided many comfortable solutions towards money circulation with ease.

We can withdraw cash at any time, day or night. The banks don’t need to be open. ATMs offer the convenience of multiple locations. We can withdraw cash at any bank that is part of the system to which our ATM card is linked. We don’t need to fill out withdrawal and deposit slips as is required at the bank. ATMs are faster than going to the bank no long lines. We can withdraw cash at ATMs in foreign countries also.

Automated Teller Machine

Automated Teller Machine

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *