What is ATM ? Automated Teller Machine ↓
ATMs are electronic machines, which are operated yesteryear a client himself to deposit or to withdraw cash from bank. For using an ATM, a client has to obtain an ATM bill of fare from his bank. The ATM card is a plastic card, which is magnetically coded. It tin live easily read yesteryear the machine.
Image Credits © lord_h8r.
To operate an ATM card, the client has to inset the bill of fare inwards the machine. He has to larn inwards the overstep give-and-take (number). If the authentication or overstep give-and-take (number) is correct, the ATM permits a client to build entries for withdrawal or for deposit. On completion of the transaction, the customer's bill of fare is ejected from the ATM.
Advantages of Automated Teller Machines (ATMs) ↓
1. ATM provides 24 hours service
ATMs furnish service circular the clock. The client tin withdraw cash upto a certainly a limit during whatever fourth dimension of the 24-hour interval or night.
2. ATM gives convenience to bank's customers
ATMs furnish convenience to the customers. Now-a-days, ATMs are located at convenient places, such every bit at the air ports, railway stations, etc. too non necessarily at the Bank's premises. It is to live noted that ATMs are installed off-site. (away from banking concern premises) every bit good every bit on site (installed inside bank's premises). ATMs furnish mobility inwards banking services for withdrawal.
3. ATM reduces the workload of bank's staff.
ATMs trim down the operate pressure level on bank's staff too avoids queues inwards banking concern premises.
4. ATM furnish service without whatever error
ATMs furnish service without error. The client tin obtain exact amount. There is no human mistake every bit far every bit ATMs are concerned.
5. ATM is really beneficial for travellers
ATMs are of nifty aid to travellers. They take away non bear large sum of cash amongst them. They tin withdraw cash from whatever metropolis or state, across the dry reason too fifty-fifty from exterior the dry reason amongst the aid of ATM.
6. ATM may laissez passer on customers novel currency notes
The client too gets build novel currency notes from ATMs. In other words, customers produce non larn dirty notes from ATMs.
7. ATM provides privacy inwards banking transactions
Most of all, ATMs furnish privacy inwards banking transactions of the customer.
