Automated Teller Machine (ATM)

An ATM, or Automated Teller Machine, is a self-service banking terminal that allows customers to perform basic financial transactions without the need for a teller or branch representative. ATMs are designed to dispense cash, accept deposits, and enable users to check their account balances and recent transactions. These machines provide convenient access to banking services, typically operating 24/7 and placed in various public locations including shopping centers, gas stations, hospitals, and other business areas.

ATMs are a critical component of modern banking, offering extended service availability and reducing the workload on bank staff. While many ATMs are owned and operated by banks and provided free of charge to their customers, they may charge a fee to non-customers. This fee structure is a common practice to cover the operational costs of the ATMs for users who do not have accounts with the bank that owns the machine.