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At Ms As Window To Banking Essay

1344 words - 5 pages

Running Head: ATMs as Window to BankingATMs as Window to BankingIntroductionIt is undeniable that the popularity of Automated Teller Machines is rising. The Automated Teller Machine has reached its popularity An Automated Teller Machine (ATM) is a telecommunications device that allows customers of a bank to access their account or make financial transactions in a public space without the personal assistance from a human clerk or bank teller. In most ATMs, the customer is given a card made of plastic with a magnetic stripe or a smartcard with a chip, which they insert to the machine for identification and access. This identification contains a unique card number and security information (Bellis, 2009).Some ATM machines allow making deposits, checking account balances, getting cash, and transferring money. Other ATM machines only give out cash and commonly found in high-traffic areas such as convenience stores, movie theaters and hotels. Using ATM cards in these locations often has high transaction fees (Bellis, 2009).ATM TechnologyAn Automatic Teller Machine (ATM) enables a bank customer to transact through almost every other ATM machine anywhere (Robat, 2006). Customers can access their bank accounts to make cash withdrawals (or credit card cash advances) and make other transactions such as checking account balances, purchasing mobile cell phone prepaid credit, money transfer and deposits.Automated Teller machines are kiosk devices connected through an internetworking communication means. Access to bank accounts is made possible via telephone networking, a host processor, or a bank computer. Through ATM, bank patrons can electronically access their financial accounts and make bank transactions such as withdraw or deposit funds, make payments, or check balances. Most financial institutions put a limit on how much cash you can withdraw in a single day (Bowen, 2009).Automated Teller Machines (ATMs) are popular in the community of Scottsbluff Nebraska the community where I reside. ATMs have diminished the need to go to the bank for several transactions. They allow access to accounts throughout the community. They are normally are situated in business establishments such as local shops and banks. The location of ATMs has its advantages and disadvantage. There are about 14,732 people living in the city (City Town Imagine how inconvenient it would be if such a number would need to transact in their banks. The use of ATMs lessens the difficulty to stand in line in a bank with that much people in a small town. People who do not have access to cars can withdraw money at their convenience and enables to budget. Shopping malls are also convenient locations for ATMs since people do not have to travel far to withdraw money and buy the things they need. The people are also likely to spend in the Newsagents, chip shop, hairdressers and the two public houses where ATMs make it convenient to access their bank accounts.Although they...

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