Automatic teller machines (ATMs) are self-service electronic devices that facilitate banking transactions without the need for human intervention. These machines are primarily used by banks and other financial institutions to provide their customers with convenient and accessible banking services around the clock.
ATMs typically consist of a keyboard or touchscreen for user input, a card reader to read the customer's bank card or debit card, and a cash dispenser to provide cash withdrawals. Additionally, ATMs may have a receipt printer to provide transaction records and a deposit slot to accept deposits from customers.
Customers can use ATMs to perform various financial transactions, including cash withdrawals, balance inquiries, fund transfers, bill payments, and cash or check deposits. To access an ATM, customers typically need to insert their bank card or debit card into the card reader and provide their personal identification number (PIN) for authentication.
ATMs connect to a bank's computer system or a network of banking systems through secure communication channels, allowing customers to access and modify their account information in real-time. This connectivity enables seamless integration between ATMs and the banks' core banking systems.
By offering convenient and secure banking services outside regular banking hours, ATMs have become an essential part of modern banking.
Overall, automatic teller machines are self-service devices that provide customers with access to various banking services, allowing them to perform financial transactions conveniently and securely.
