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Automated Teller Machine

ATMs are the Automated Teller Machines which provides various financial services to the customers of the respective bank and others. Such machines are the computerized telecommunication devices often used for providing customers some financial services in various public locations without the involvement of any human beings. The process is fully automated.

In order to access an ATM, a customer has to insert a plastic ATM card with a magnetic stripe or with a plastic smart card attached with a chip in the specific slot in the ATM machine. The card inserted contains various encrypted data including the account details of the card holder. You can use various services through these ATMs. You can withdraw money as well as can deposit it, can check your balance, can deposit your cheques and many more. Different terms have been used for ATMs such as automated banking machine, hole in the wall, cash point, Bancomat, cash machine and one or two other names.

The ATMs in India work according to the Interbank Networks and other methods used in Indian system of banking. Banking through ATMs has its certain good and bad effects. Nowadays most of the banks try to facilitate their banking services with ATMs. All the major banks in India have severals ATMs located in various parts of all the major cities and towns.