Automatic Teller MachinE

An Automatic Teller Machine (ATM) is a machine permitting a bank’s customer to make cash withdrawals at anytime and without a human teller.

ATMs have a wide variety of names, such as Automatic Teller Machine, Automatic Banking Machine, hole in the wall, Cash Dispenser, and some other names.

ATMs allow people to deposit cash or checks, check their accountant balances, transfer money between their bank accounts, and many others.

In modern ATMs, customers authenticate themselves by using a plastic card with a magnetic stripe. It encodes the customer’s account number. By entering a pass code called PIN (Personal Identification Number), a customer can make withdrawals. If the customer enters it incorrectly for several times in row, most ATMs will retain the card as a security precaution.