ATM

ATM (Automated Teller Machines  )

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ATMs  are electronic machines, which are operated by a customer himself 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.

To  operate an ATM card, the customer has to inset the card in the machine.  He has to enter the pass word (number). If the authentication or pass  word (number) is correct, the ATM permits a customer to make entries for  withdrawal or for deposit. On completion of the transaction, the  customer's card is ejected from the ATM.

Advantages of Automated Teller Machines (ATMs)
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1.  ATM provides 24 hours service: 

ATMs provide service round the clock.  The customer can withdraw cash upto a certain a limit during any time of  the day or night.

2. ATM gives convenience to bank's  customers:

ATMs provide convenience to the customers. Now-a-days, ATMs  are located at convenient places, such as at the air ports, railway  stations, etc. and not necessarily at the Bank's premises. It is to be  noted that ATMs are installed off-site. (away from bank premises) as  well as on site (installed within bank's premises). ATMs provide  mobility in banking services for withdrawal.

3. ATM reduces the workload of bank's staff: 

ATMs reduce the work pressure on bank's staff and avoids queues in bank premises.

4.  ATM provide service without any error: 

ATMs provide service without  error. The customer can obtain exact amount. There is no human error as  far as ATMs are concerned.

5. ATM is very beneficial  for travelers: 

ATMs are of great help to travelers. They need not  carry large amount of cash with them. They can withdraw cash from any  city or state, across the country and even from outside the country with  the help of ATM.

6. ATM may give customers new  currency notes: 

The customer also gets brand new currency notes from  ATMs. In other words, customers do not get soiled notes from ATMs.

7. ATM provides privacy in banking transactions:
Most of all, ATMs provide privacy in banking transactions of the customer.