ATM

Automated Teller Machines (ATMs)
Automated Teller Machines (ATMs) are primarily used for performing some of the banking functions such as the withdrawal of cash or the deposit of cash/cheque, etc., by using an ATM card.
The committee headed by Dr. C. Rangarajan recommended the setting up of ATMs in India.
Convenience of ATMs
To the Customers:
(a) 24 x 7 access availability
(b) Less time for transactions (less queue)
(c) Privacy in transactions
(d) Any branch/anywhere banking enabled
(e) Acceptability of card across multiple bank ATMs, even foreign tourists can access
Maestro/VISA / ATMs
To the Bank:
(a) Cost of setting up ATMs is lower than setting up a branch
(b) Migration of the routine transactions to the ATMs frees the bank staff for more
productive work
(c) ATMs serve as the crucial touch point for cross-selling of the bank’s products
(d) Enables the bank to display products on the screen and serves as a media for publicity
for the bank
(e) Less hassle in handling cash.
The following components of the ATM provide the customer interface:
(a) Video Display Monitor
(b) Keyboard/Keypad
(c) Touch Screen
(d) Slots: There are slots in the ATM for various purposes as detailed below:
(i) Card Reader (ii) Cash Dispenser
(iii) Envelope Dispenser (iv) Deposit Slot

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