Electronic banking is sometimes defined as the provision of retail and small value banking products and services through electronic channels either through mobile devices,Automated Teller Machines, or even the internet. It is also often used to describe processes inwhich customers can perform banking transactions without visiting a physical institution e- banking made an auspicious debut when automated teller machines (ATMs) were introduced itrevolutionizing how we viewed the usual, brick-and-mortar bank structure. The Automatic Teller Machine (ATM) was first commercially introduced in the 1960s. By 2005, there were over 1.5million ATMs installed worldwide.
With advent of Automatic Teller Machines (ATM), banksare able to serve customers outside the banking hall. ATM is designed to perform the mostimportant function of bank. It is operated by plastic card with its special features. The plasticcard is replacing cheque, personal attendance of the customer, banking hour¶s restrictions and paper based verification. ATMs have made hard cash just seconds away all throughout the day atevery corner of the globe. ATMs allow you to do a number of banking functions ± such aswithdrawing cash from one¶s account, making balance inquiries and transferring money fromone account to another ± using a plastic, magnetic-stripe card and personal identification number issued by the financial
ATM ± Accessi
Automated teller machines are electronic devices, which allow banks¶ customers to makecash withdrawals and check their balances 24 hours a day without the aid of a human teller. Cashholders are given cards and personal identification numbers (PIN) to remember and use whenaccessing the facility to withdraw money from their accounts. The machines are placed in areasthat are convenient to customers who can access services twenty-four hours a day. The servicesare available at bank branches, airports, large retail stores such as super markets, hotels,restaurants and other designated places. ATMs dispense cash faster than the manual operations.They are automatic and less expensive which is helping to keep banks operating cost low.