I need the main advantages of automatic teller machines(ATM) coz I'm making a research about it
2006-11-10 01:43:37 · 9 answers · asked by Looly 1 in Business & Finance ➔ Other - Business & Finance
1. quicker access to money (near to house/business)
2. comparatively quicker transaction time compared to bank counter
3. Any time banking (ATM) for 24 X 7
4. Remote connectivity (distant locations can be served without identification hassles, even beyond countries)
5. Reduces cash theft related issues.
6. Increases usage of Plastic money
2006-11-10 02:11:08 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I was in college when the first ATM machines came out. It was a wonderful thing. Up until that time, the only way to get cash was to go to the bank before it closed and write a check. Another option was to have a check cashing card at a grocery store but there were strict limits as to how much money you could get and you had to purchase something in order to write a check. There were no bank cards so if you didn't make it to the bank on time, then you could not go out on Friday night.
After the ATM was installed at my bank, I could go there and get cash any time I needed to or wanted to. It made a huge difference. Since there were no bank cards at the time, you had to have cash to purchase everything from a drink in a bar to gas at a gas station.
It was the best thing ever to have an ATM card. It made life so much easier.
2006-11-10 01:58:51 · answer #2 · answered by nana4dakids 7 · 0⤊ 0⤋
I switch regularly as one of my cars is manual the other auto. The auto costs much more to run in both fuel and maintenance. The auto is better for driving in traffic but loses its advantage on long runs. On long distances you have to be more aware of the dangers of sleep. My left leg suffers this a lot. The lag in acceleration at junctions can be quite off putting. The oddity is that you can end up more tired with an auto as you may find the monotony so soporific that you need to work hard at maintaining a high level of concentration. One advantage I did find is that no matter how heavy the trailer was I was able to tow it with my old Granny auto
2016-03-28 01:21:46 · answer #3 · answered by Lisa 4 · 0⤊ 0⤋
"Automated" Teller Machine
You can get cash more quickly and even when the bank is closed. You can also access your own money from another bank's ATM. It was incredibly convenient when I went to Spain - I just used ATMs rather than taking a lot of travelers' cheques.
2006-11-10 01:48:04 · answer #4 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
For the bank(s) , it cuts down on employees. For regular people, the machines are available 24 / 7 / 365...
2006-11-10 01:47:51 · answer #5 · answered by Vinegar Taster 7 · 0⤊ 0⤋
In a word---convenience---
easily accessed account transactions
available almost anywhere at anytime
with the security of the funds being safeguarded at the same time !!!
2006-11-10 01:58:54 · answer #6 · answered by Anonymous · 0⤊ 0⤋
it makes it easier for people to steal your money in a variety of ways
when using an ATM 1 person will stand next to you, another behind you. the one behind you will see you putting in your PIN, then he will drop money on the floor. when your money is ready, he will say"is that your money on the floor?" you look and the guy next to you steals your card and runs away. the two of them then meet up and empty your account.
2006-11-10 01:55:31 · answer #7 · answered by of_the_moon 3 · 0⤊ 0⤋
if bank is closed you can always get money day or night! other than that nothing really you have to be wary about if someone is watching you etc
2006-11-10 01:46:22 · answer #8 · answered by lita 5 · 0⤊ 0⤋
instant deposit and withdrawal on your account without the need to go to the bank.
2006-11-10 01:45:30 · answer #9 · answered by Karrien Sim Peters 5 · 0⤊ 0⤋