Automated Teller Machines (ATMs): Benefits & Drawbacks
3:09
Study.comArtem Cheprasov
Automated Teller Machines (ATMs): Benefits & Drawbacks
In today's world, automatic teller machines (ATMs) are everywhere, including banks, convenience stores, shopping malls, and casinos. Explore the characteristics of ATMs and discover their types, benefits, and drawbacks.
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ExplainScience on Instagram: "An ATM (Automated Teller Machine) works by connecting the user directly to their bank through a secure electronic network. When you insert or tap your ATM card, the machine reads the card details and asks for your PIN to verify your identity. Once the PIN is entered, the ATM sends this information to the bank’s server for authentication. After verification, you can select transactions like cash withdrawal, balance inquiry, or fund transfer. For cash withdrawal, the
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ATMS, or Automated Teller Machines, are electronic banking devices that allow customers to perform various financial transactions without visiting a physical bank branch. These machines are typically found in public locations like banks, convenience stores, and shopping centers. Users can withdraw cash, check their account balances, transfer money between accounts, and even deposit checks or cash in some cases. ATMS have revolutionized banking by providing convenient access to funds and basic ba
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