Why is an ATM considered to be the easiest way to access money for an ordinary citizen?

         An automated teller machine, or ATM, is considered to be one of the biggest inventions of the past century.

         While out on shopping with your family, you might have seen your parents entering small booths called ATM counters and withdrawing money easily. It is exactly for this, for making things easier that they are considered to be a great invention. ATMs help users acquire cash anytime anywhere.

         They are machines for electronic telecommunication that helps, say customers of a particular bank to withdraw money without having to go to that bank. Now you know the ATMs are set up by the respective banks.

          When you open an account with them, the banks give you an ATM card. This plastic card has a magnetic stripe and a chip containing a unique card number and security information of your bank account. At first, you insert this card in the ATM machine, and type your pin number, which is a kind of password to enter the account.

          The machine reads the details on your card, and connects to your account. It then delivers the money you ask for. ATMs also help in checking the balance amount in your account.

           These days there are Cash Deposit Machines or CDMs for some banks, which help customer deposit money without going to a bank. What a leap of progress!