ATM

Definition:

An ATM (Automated Teller Machine) is a self-service electronic banking  device that allows individuals to access their bank accounts for transactions such as cash

withdrawals, deposits, and balance inquiries without the need for bank personnel.

Example:

Ramesh uses his SBI debit card at an HDFC Bank ATM to withdraw ₹2,000, with  the amount securely deducted from his savings account through a regulated network.

How to use an ATM:

1. Insert your ATM card into the machine and ensure it is read properly.
2. Input your Personal Identification Number (PIN) to authenticate your identity.
   
3. Select the desired transaction type: withdrawal, deposit, or balance check.
   

Important Notes:

• ATM cards are issued by major banks such as SBI, HDFC, ICICI, and Axis.
• Customers typically receive a set number of free transactions per month; additional transactions may incur fees.
• They can use their ATM cards at any bank's ATM, thanks to RBI regulations promoting network integration.
• It is crucial to keep your PIN confidential and to block your card immediately if lost or stolen to prevent unauthorized access.