what is atm

ATM stands for Automated Teller Machine, which is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller. Anyone with a credit card or debit card can access cash at most ATMs, either in the U.S. or other countries. ATMs are convenient, allowing consumers to perform quick self-service transactions such as deposits, cash withdrawals, bill payments, and transfers between accounts. ATMs are also known as automated bank machines (ABMs), cashpoints, or cash machines. There are two main types of ATMs: basic units only allow you to withdraw cash and receive updated account balances, while others allow a variety of transactions such as check deposits. ATMs make cash more accessible and are quick and convenient, as they are often accessible 24/7 without the need to see a teller or other bank representative.