What are the Benefits of Automated Teller Machine (ATM)?

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The term ATM stands for Automated Teller Machine. It is a machine installed by a bank for providing banking service for 24 hours. The customer is given a ‘ATM Card’ and a code number. He can withdraw cash at any time up to limit from ATM.

The various facilities provided by ATM are :

1. Cash withdrawals.

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2. Cash deposits.

3. Balance enquiry or checking the balance in the bank account.

4. Request for statement of account.

5. Change of personal identification number(PIN).

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6. Cheque book request.

7. Transfer of funds from one account to another account.

8. Other facilities like bill payments.

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