ATM (Automated Teller Machine)

banking · technology · money

Personal Money Access. ATMs let you withdraw cash from your bank account 24/7, even on weekends and holidays when the bank is closed. You just need your card and a secret code called a PIN.

More Than Just Cash. Modern ATMs do way more than just give you money. You can check your account balance, deposit checks, transfer money between accounts, and even change your PIN without talking to anyone.

Electronic Teamwork. ATMs are connected to banks through telecommunications networks, so when you request money, the machine talks to your bank's computer to make sure you have enough funds before handing over the cash.

Security Measures. ATMs protect your money by requiring your unique PIN and by encrypting (scrambling) your information so that thieves cannot steal your details. The machines also keep records of every transaction.

Always Available. Because ATMs work electronically, you can access your money anytime, anywhere there's a machine. This changed banking forever, since people no longer had to wait for the bank to open during business hours.