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What is an ATM and what is it's purpose?

Updated: 8/20/2019
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10y ago

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An ATM stands for Automated Teller Machine. It is a machine that is connected to a banks network which is accessible to all the banks customers. Every customer is given a magnetic card which is specific to their account and customers can access their bank account using their respective card in the ATM. They can avail services like balance inquiry, cash withdrawal, print out mini-statement, transfer funds using an ATM.

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Q: What is an ATM and what is it's purpose?
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