ABM / ATM

ATM (Automated Teller Machine)  or ABM (Automated Banking Machine)

ABM / ATMs are computer-like machines that dispense your cash for you from your bank account.By inserting your bank client card into the machine you can withdraw your cash. Other than inserting your card and selecting a withdrawal amount, these machines requires no human interactions and transactions are efficient. Cash is usually withdrawn in $20 denominations. After cash is collected and your client card is returned, the machine will print out an account balance receipt. Most of these ABM/ATMs will charge a fee, ranging from $1.00 to $3.00. Transactions are always free when your Bank Client card is of the same institution as the Machine.

A generic Automated Teller Machine. Picture from: http://weaselzippers.us/wp-content/uploads/2011/12/atm-machine.jpg

A generic Automated Teller Machine.
Picture from: http://weaselzippers.us/wp-content/uploads/2011/12/atm-machine.jpg

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