A teller machine, commonly known as an automated teller machine (ATM), is a self-service electronic device that allows individuals to carry out transactions pertaining to their bank accounts. It is primarily used for withdrawing and depositing cash, checking account balances, transferring funds, and other banking activities.
The teller machine typically consists of a keyboard or a touchscreen interface for users to enter their personal identification number (PIN) or provide biometric information for authentication. It is equipped with a card reader that accepts bank-issued cards such as debit or credit cards, enabling customers to access their accounts securely. During a transaction, the machine communicates with the respective banking network to verify and process the requested services.
In addition to standard transactions, modern teller machines often offer advanced features such as bill payments, printing mini-statements, recharging prepaid mobile phones, and purchasing postage stamps. Some ATMs also enable users to deposit cash or checks directly into their accounts, eliminating the need to visit a physical bank branch.
Teller machines are set up in various locations such as bank branches, shopping malls, airports, and other public spaces to provide convenient and round-the-clock access to banking services. These machines have revolutionized the banking industry by reducing the dependence on traditional brick-and-mortar branches and enhancing banking accessibility for customers, thereby making financial transactions more efficient and convenient.
