• Automatic Teller Machines

An Automatic Teller Machine, more popularly known as an ATM, is a computerised device that is designed to dispense cash to the customers of a bank without any need to interact with a human teller. It can also accept deposits, transfer money between bank accounts, and provide a number of other basic financial services. A great thing about the ATM is that customers can use it at any time to have a convenient and easy access to cash. Using an ATM requires that the customer must have a bank card which is fed to the machine.

Automatic Teller Machines

It will then ask the user to input a Personal Identification Number after which simple transactions can be done. A record of transactions is kept by the machine and it is able to automatically deduct withdrawals or add deposits to a customer’s account through its link to the bank’s computer system. Banks normally do not charge any fees if customers use their own ATM, but if a user makes a transaction on another bank’s ATM, then fees would be incurred.