ATM
Posted in Banking
define: ATM
Automated Teller Machines (ATMs) are provided to give customers access to a banking terminal when the bank is closed. ATMs are interconnected, making banking transactions possible while traveling. With a magnetically-encoded card (either a debit or ATM card), a customer can withdraw cash, make a deposit, or check an account balance at an ATM. A surcharge is usually posted on a customer’s account for use of an ATM. Fees can be charged by the customer’s bank and the bank-owned ATM, but some banks set up an alliance to waive the surcharge fees if the customer uses ATMs within a system of certain banks.
This definition is filed under Banking.
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