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Definition

Automated Teller Machines (ATMs)

Automated teller machines (ATMs), also known as cash machine is an electronic telecommunications device that allows a customer of a financial institution 24-hours access their bank deposit or credit accounts in order to make a variety of financial transactions such as payment of bills as well as cash withdrawals, check balances, or credit mobile phones, without the need for a human cashier, clerk or bank teller.

 In addition, if the bank’s ATMs are part of a bank network, retail depositors can gain direct nationwide, and in many cases international, access to their deposit accounts by using the ATMs of other banks in the network to draw on their accounts.


ATM - Automated teller machines through which a bank customer can access his or her deposit account, make loan payments, or obtain information and other services.


Automated Teller is a computerized machine used for banking transactions, e.g. depositing or Machines (ATMs) withdrawing money, making balance/ transaction inquiries and transfers; operated through magnetic plastic cards with the held of personal identification numbers (PINs).

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