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Introduction to Banking

ATM Transactions

If you remember, in our earlier units, we have discussed various types of banking channels, of which ATM was one of them. In this section, let's find out what an ATM is and how to transact using one of them? 


What is an ATM?

Automated Teller Machines (ATM) present a convenient way of withdrawing cash from a bank account using ATM Cards. Their advent has removed the requirement to visit branches and stand in long queues to withdraw or deposit money. Thanks to ATMs, cash is available round the clock which is extremely helpful, especially during emergencies. 

Steps to withdraw cash using ATMs


Before collecting the card, the ATM machine asks customers if they want to perform any other transaction. In case it is required, customers can perform other transactions without removing and inserting the card again.

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