Automated teller machine (ATM),
Definition of Automated teller machine (ATM):
A machine that dispenses cash or performs other banking services when an account holder inserts a bank card.
ATMs are convenient, allowing consumers to perform quick self-service transactions such as deposits, cash withdrawals, bill payments, and transfers between accounts. Fees are commonly charged for cash withdrawals by the bank where the account is located, by the operator of the ATM, or by both. Some or all of these fees can be avoided by using an ATM operated directly by the bank that holds the account.
An automated teller machine (ATM) is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller. Anyone with a credit card or debit card can access cash at most ATMs.
Computerized machine that permits bank customers to gain access to their accounts with a magnetically encoded plastic card and a code number. It enables the customers to perform several banking operations without the help of a teller, such as to withdraw cash, make deposits, pay bills, obtain bank statements, effect cash transfers. Also called automated Banking machine, automatic till machine, or remote service unit.
How to use Automated teller machine (ATM) in a sentence?
- Regulators are particularly worried that some banks provide the service even at automated teller machines (ATMs).
- I liked using the automated teller machine rather than the real teller because I did not like the attitude some of them had.
- I need to stop at the automated teller machine before we go to the concert, they dont except debit cards.
- The automated teller machine enabled us to make a deposit after the sports event at our convenience which was nice.
- Some are simple cash dispensers while others allow a variety of transactions such as check deposits, balance transfers, and bill payments.
- To keep ATM fees down, use an ATM branded by your own bank as often as possible.
- Automated teller machines are electronic banking outlets that allow people to complete transactions without going into a branch of their bank.
Meaning of Automated teller machine (ATM) & Automated teller machine (ATM) Definition