Automated Teller Machine - Explained | Tech
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An ATM, which stands for automated teller machine, is a specialized computer that makes it convenient to manage a bank account holder’s funds. It allows a person to check account balances, withdraw or deposit money, print a statement of account activities or transactions, and even purchase stamps.
ATMs were first used in London in 1967, and after 50 years, these machines can be found nationwide.
ATMs can be on-premise or off-premise. On-premise ATMs are located in financial institutions. Clients enjoy more choice, convenience and availability, while banks can boost their revenue from transactions, lessen operational costs and maximize staff resources.
Off-premise ATMs are typically found in places such as airports, grocery and convenience stores and shopping centers where there is a simple need for cash.
