Question

What is ATM? State the purpose of ATM.

Hint:

Remember: ATMs give you cash and banking services anytime, anywhere — no bank counter needed.

Answer 1

An ATM (Automated Teller Machine) is an electronic banking machine that allows customers to perform basic financial transactions without the need for a bank representative or teller.
ATMs are installed in banks, shopping malls, airports, and many other public places for customer convenience.
The main purpose of an ATM is to provide customers with round-the-clock access to their bank accounts.
Customers can withdraw cash, deposit money, check account balances, print mini statements, transfer funds, and even change their PIN using an ATM.
By providing 24/7 services, ATMs help reduce long queues inside banks and save customers’ time and effort.
They make banking more convenient, secure, and accessible to everyone at any time of day.