ATM - 10 things to know with detail
- 1. ATM stands for Automated Teller Machine, which is a computerized device that enables customers to perform basic banking transactions without the need for a human teller.
- 2. ATMs are typically located in public places such as banks, shopping centers, airports, and convenience stores for easy access by customers.
- 3. Common transactions that can be performed at an ATM include cash withdrawals, balance inquiries, account transfers, and depositing checks or cash.
- 4. To use an ATM, customers must insert their bank card into the machine and enter their personal identification number (PIN) to access their accounts.
- 5. ATMs are connected to a network that allows customers to access their accounts from any ATM within the network, regardless of the bank that operates the machine.
- 6. ATMs are equipped with security features such as surveillance cameras, encryption technology, and anti-skimming devices to protect customers' information and prevent fraud.
- 7. Some ATMs charge fees for certain transactions, such as cash withdrawals or balance inquiries, especially if the customer is using an ATM that does not belong to their own bank.
- 8. ATMs have a daily withdrawal limit, which is set by the customer's bank to prevent unauthorized access to funds in case the card is lost or stolen.
- 9. In addition to traditional banking transactions, some ATMs offer additional services such as purchasing prepaid phone cards, buying postage stamps, or making charitable donations.
- 10. ATMs have revolutionized the way people access and manage their finances, providing convenient and secure access to banking services 24 hours a day, 7 days a week.