An automated teller machine (ATM) is an electronic telecommunication device that enables

customers of financial institutions to perform financial transactions, such as cash

withdrawals, deposits, transfer funds or obtaining account.

Facilities of ATM services to us:

There are many facilities that ATM service provides to us are given below-
I. One can open a fixed deposit with his/her bank using an ATM.
II. Prepaid services of most mobile operators can be recharged from an ATM.
III. Some banks offer the convenience of paying income tax using ATM.
IV. Many banks have installed cash deposit machines in ATM kiosks.
V. ATM provides banking services to its customers round the clock, 24 hours a day, 7
days a week and 365 days a year.
VI. Now a days almost every shopping mall, restaurant and other organizations are
accepting debit or credit card payments.
VII. Holding the ATM card one can transfer funds between accounts within the same
bank.
VIII. Through the ATM card one can quickly get the mini statement of details of the
recent transactions.
IX. One can pay utility bills like telephone bill, electricity bill, gas bill and others through
ATM.
X. One can also make a request for a new cheque book through the ATM.
XI. Through ATM one can check how much money is remaining in the account.
XII. ATM services save the valuable time of the customers because the get all banking
facilities instantly through this.

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Threats of ATM service to us:
I. Criminals can fit skimming devices and small cameras to ATMs.
II. Banks and machine owners draw a huge source of revenue from ATM fees.
III. ATMs located in busy locations may not have adequate funds for busy holiday
weekends when large numbers of people are taking outcast
IV. Unlike bank tellers, ATMs do not require the person performing the transaction to
present a picture identification.
V. If the bank card is stolen and the number ascertained, an unauthorized person can
easily access the account.
VI. ATMs can only perform relatively basic transactions. This means that people who
need to complete these longer transactions will be forced to use the teller.
VII. Unlike banks, in which security guards and tellers are present to ensure the person
performing a transaction receives privacy, there is no such guarantee when using an
ATM.
VIII. ATM is incapable of providing personalized instruction to the user in a way that a
human teller can.