By Jasreet Kaur14, Jan 2025 02:00 PMjagranjosh.com
Do You Know?
ATMs are machines that help people do simple banking tasks like taking out money or checking their account, without going to a bank. Tap to read in detail.
ATM
ATM stands for Automated Teller Machine, a device that allows customers to perform banking transactions like withdrawing cash, checking balances, and more independently. It simplifies access to banking services.
Services Provided
It offers multiple services such as cash withdrawals, deposits, mini-statements, and fund transfers, helping users avoid bank queues. These features save time and effort.
Accessibility
ATMs are accessible 24/7, ensuring round-the-clock availability for financial transactions in emergencies or daily needs. They are convenient for everyone.
Types of ATMs
There are two types of ATMs: on-site ATMs at bank premises and off-site ATMs in public locations, enhancing accessibility. Both cater to different customer needs.
Security Features
ATMs require a PIN for secure account access, reducing unauthorized transactions. This ensures safety for users.
Role in Remote Areas
They bring banking services to rural and remote areas, empowering communities with financial tools. This reduces the urban-rural gap.