What Are Automated Teller Machines?
The Basics Automated teller machines are also known as ATM’s. It is a computerized telecommunication device that provides the customers of a financial institute the ability to make a financial transaction in a public place without the need of a teller or clerk. When a customer opens an account with the financial institute they receive a card that has a magnetic strip along the back of the card that the machine reads when the customer is trying to make a withdrawal. The customer is also given a personal identification number to use with the debit/ATM card. The pin number can be used to make withdrawals at Automated Teller Machines. When the customer places a card into the Automated Teller machine, the machine automatically reads the card then calls the institution where the card was issued. This verifies that the person can make the transaction that they desire. When the institute approves the transaction then the machine will complete the transaction, giving them the money they have re
