ATM services by banks


ATM services by banks

ATM services are widely used by bank to give their customers quick facility to withdraw cash and to know their account balance. ATM services work without the presence of a cashier as clients themselves can use ATM with the help of an ATM card and PIN. This facility is very convenient, easy to use and time saving for customer as well as bank staff. Every bank has number of ATM in ev3ery city to enable their customer use this facility without going so far.  One can use ATM of any bank if he/she has valid ATM card of any bank.

ATM Machine

ATM (Automated Teller Machine)

ATM is Automated Teller Machine which is known differently at different regions. Other names used for ATM machines are automated banking machine, cash point or cash machine. ATM machine provides bank costumers 24 hours cash withdrawal facility. Without the help of cashier clients can withdraw money and check their account balance via ATM machines. To use ATM machine clients of bank are provided with an ATM card and PIN. Various ATM of different banks are situated everywhere these days. User can avoid going bank branch and waiting in lines simply by using ATM to know their balance and withdraw cash up to a certain limit.

How does ATM works:

ATM is a machine which requires ATM card to work. ATM cards are plastic card having a magnetic strip on it. This magnetic strip contains a chip in which whole user information can be accessed by ATM. Other than this ATM contains a unique number, Expiry date and CVV number. To access ATM machine user need to swap card into machine and enter a PIN which means Personal Identification Number. Steps should be follow to use ATM are:

  • Swap your card in an ATM and enter your PIN

  • As you swap card in machine access all your account information.

  • Then you need to follow instructions and select your required option. Options provided by ATM are Withdraw cash, Fast cash, Balance enquiry, Mini statement, Fund transfer and cheque book request etc.

  • Once you choose your required option you will further provided by different option. By choosing your required option every time you finally get what you want.

Advantages of ATM

 

  1. One doesn’t have to carry money with himself and can withdraw any time he needs it.

  2. Keeps money safe.

  3. 24 hour facility.

  4. Saves time of going to a branch and waiting in line.

  5. ATM cards can also be used for online transactions.

Disadvantages of ATM

  1. If user forgets their PIN they are unable to use the card.

  2. Training is needed for use the machine

  3. Big transaction not possible on ATM

  4. Bank charged fees for using ATM

  5. Transaction may fail when the system of server is down.

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