Understanding Automated Teller Machines (ATMs): A Comprehensive Overview
Automated Teller Machines (ATMs) have become an essential part of modern banking, providing convenient, round-the-clock access to financial services. These self-
service terminals allow users to withdraw cash, check account balances, transfer funds, and perform various banking operations without the need to visit a bank branch. Over the decades, ATMs have significantly transformed how people access their money, enhancing both efficiency and accessibility within the financial sector.
What Is an ATM?
An Automated Teller Machine is an electronic banking device that enables customers to conduct financial transactions securely and independently. Equipped with card readers, keypads, screens, and cash dispensers, ATMs function through a secure network that connects them to a bank’s central system. They authenticate the user’s identity through a debit or credit card and Personal Identification Number (PIN) before allowing any transaction.