Automated Teller Machine (ATM) and ATM Card and its Advantages

Automated Teller Machine (ATM) and ATM Card 

An automated teller machine or automatic teller machine (ATM), is a Computerized telecommunications device that provides the clients of a financial Institution with access to financial transactions in a public space without the need for a cashier, human clerk or bank teller.

ATM cards are the most convenient form of withdrawing money. It is a magnetic card having a secret PIN ( Personal Identification Number) which is kept to be confidential by the user to prevent it from misuse. One can easily get money withdrawal by simply inserting ATM cards into ATM with confidential pin code. These cards are also known as ATM- CUM DEBIT card. Nowadays ATM is serving more than just withdrawing machines. A minimum balance of Rs.1000 is compulsory to withdraw. ATM card of any bank can be access in any bank’s ATM.

How to Avail ATM Facility

1. This facility is for everyone who has Savings, Current or Cash Credit account.

2. To get ATM Facility on your account you have to fill up form provided by bank.

3. ATM card holder has to maintain minimum balance of Rs.1000/-

4. No any additional charges for this facility

The advantages of ATM are:

1. It provides the facility to the customer to withdraw or deposit cash and avail other services as quickly as possible.

2. It is available to a customer round the clock, i.e., 24 hours in a day and 365 days in a year.

3. It enables the bank to advertise their products on the ATM screen like a media.

4. It saves time of the customers to travel to a bank branch for operating of their account.