what are the benefits of having an ATM??
2007-03-15 03:57:04 · 4 answers · asked by kathleen j 1 in Business & Finance ➔ Credit
To the bank:
* Ability to hire fewer employees (tellers).
* Can make profit from non-bank users by charging ATM fees.
* Can make profit from bank members by charging ATM fees for using ATM beyond a certain number of times.
To the consumer:
* Possibility of getting money 24/7.
* Shorter line to wait in to get the money.
To the business:
* Can make money by putting an ATM with surcharge in their place of business. (Think about most mall ATMs...)
To the criminal:
* Easier to walk up and rob an individual because there's no one else around and you know they just took out money. (Which is why it may be best to just get "cash back" when using a debit card!)
2007-03-15 04:03:08 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You can get cash in the middle of the night.
Back when you had to physically walk up to a teller and cash a check at a bank, you had to wait until the bank was open, or be on good terms with an open store that was willing to cash a check for you.
2007-03-15 04:00:50 · answer #2 · answered by Faye H 6 · 0⤊ 0⤋
The convenience of getting your money 24 hours a day seven days a week. You can withdraw or deposit at your convenience.
2007-03-15 04:18:07 · answer #3 · answered by devilgal031948 4 · 0⤊ 0⤋
Thank you Sarah, you made me laugh so hard with the cash back comment! I really needed that right now.
Take care all.
2007-03-15 04:13:17 · answer #4 · answered by deanspurrier 3 · 0⤊ 0⤋