MCQ Detailed View

ATM is a well-known term used in the banking and finance sector. It is an electronic machine that allows bank customers to perform basic financial transactions without the need for a human teller.

Here’s what an ATM typically allows you to do:

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  Withdraw cash

  
  


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  Check account balance

  
  


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  Transfer money between accounts

  
  


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  Change your ATM PIN

  
  


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  Print mini-statements

  
  

The term “Automated” means the machine works without manual help, and “Teller” refers to the bank staff who handle customer transactions. So, ATM replaces the need to stand in line at a bank to get services. You simply insert your bank card, enter your PIN, and follow the on-screen instructions to complete your transaction.