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Automated Teller Machines (ATM): Revolutionizing Banking Services
Automated Teller Machines, commonly known as ATMs, have transformed the banking experience by providing convenient, round-the-clock access to financial services. Since their introduction in the late 1960s, ATMs have become an integral part of modern banking infrastructure, serving millions of customers worldwide and supporting the rapid digitization of financial transactions.
Overview and Functionality
An ATM is an electronic banking device that allows customers to perform a variety of financial transactions without the need for direct interaction with bank staff. Typical functions include cash withdrawals, deposits, balance inquiries, fund transfers, bill payments, and even mini-statements of recent transactions. The convenience of accessing banking services 24/7 has made ATMs an indispensable tool for both consumers and financial institutions.