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    Digital Banking

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    তোফায়েল আহমেদ
    ATMs allow customers to deposit or withdraw cash from their bank account using a magnetically coded plastic card. ATM services offer many conveniences like 24/7 banking, withdrawals, bill payments, and fund transfers between accounts. However, they also pose some risks such as being unable to withdraw funds without a working credit card, privacy and security concerns when no bank staff are present, and limitations on transaction types and cash amounts.

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    Digital Banking

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    তোফায়েল আহমেদ
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    ATMs allow customers to deposit or withdraw cash from their bank account using a magnetically coded plastic card. ATM services offer many conveniences like 24/7 banking, withdrawals, bill payments, and fund transfers between accounts. However, they also pose some risks such as being unable to withdraw funds without a working credit card, privacy and security concerns when no bank staff are present, and limitations on transaction types and cash amounts.

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    ATMs allow customers to deposit or withdraw cash from their bank account using a magnetically coded plastic card. ATM services offer many conveniences like 24/7 banking, withdrawals, bill payments, and fund transfers between accounts. However, they also pose some risks such as being unable to withdraw funds without a working credit card, privacy and security concerns when no bank staff are present, and limitations on transaction types and cash amounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    30 views2 pages

    Digital Banking

    Uploaded by

    তোফায়েল আহমেদ
    ATMs allow customers to deposit or withdraw cash from their bank account using a magnetically coded plastic card. ATM services offer many conveniences like 24/7 banking, withdrawals, bill payments, and fund transfers between accounts. However, they also pose some risks such as being unable to withdraw funds without a working credit card, privacy and security concerns when no bank staff are present, and limitations on transaction types and cash amounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    ATMs (Automated Teller Machine) are electronic machines, which are operated by a

    customer himself to deposit or to withdraw cash from bank. For using an ATM, a customer
    has to obtain an ATM card is a plastic card, which is magnetically coded. It can be easily read
    by the machine.

    Facilities of ATM Services


    ATM services have many advantages such as 24 hours banking facility, withdrawing money,
    paying bill, easy to transactions etc. The facilities are given below-
    1. ATMs provide service round the clock. The customer can withdraw cash up to a
    certain a limit during any time of the day or night.
    2. ATMs provide convenience to the customers. Now-a-days, ATMs are located at
    convenient places, such as at the air ports, railway stations, etc. and not necessarily
    at the Bank’s premises.
    3. ATMs reduce the work pressure on bank’s staff and avoids queues in bank premises.
    4. ATMs provide service without error. The customer can obtain exact amount.
    5. ATMs are of great help to travellers. They need not carry large amount of cash with
    them. They can withdraw cash from any city or state, across the country and even
    from outside the country with the help of ATM.
    6. The customers also gets brand new currency notes from ATMs. In other words,
    customers don’t get solid notes from ATMs.
    7. Using ATM card one can now make payment for credit card bill, pay Taxes, do
    mobile phone re charge.
    8. Holding the ATM card the most of the banks allow to transfer the funds from one
    account to another account on a real time basis.
    9. Through ATM card one can quickly get the mini statement giving the details of
    recent transactions.
    10. Many banks have installed cash deposit machines in ATM kiosks.
    11. One can withdraw money & apply for new cheques through ATMs.
    12. Most of all, ATMs provide privacy in banking transactions of the customer.

    1
    Threats of using ATM services to us:
    All good things have some bad sides .ATMs are efficient machines, but do have some
    disadvantages. The risks of using ATMs are given below-
    1) If problem with credit card one cannot withdraw his/her money.
    2) If anyone forget his/her PIN number and someone hacks an ATM machine then he
    cannot use the card.
    3) In a country like Bangladesh, where banks are having large number of rural ad non-
    computerized branches, ATM services cannot be provided.
    4) There is a limitation of cash withdrawals from ATM. For example, many banks don’t
    permit withdrawal of more than 25000 t a time.
    5) Cash deposit facility is restricted and not safe as dropping of envelop ad ATM is not
    advisable.
    6) Banks and machine owners draw a huge source of revenue from ATM fees.
    7) The ATM is incapable of providing personalized instruction to the user in a way that a
    human teller can.
    8) Unlike B anks, in which security guards and tellers are present to ensure the
    person performing a transaction receives privacy, there is no such guarantee when
    using an ATM.
    9) ATMs can only perform relatively basic transactions. This means it is unable to
    complete complex transactions.
    10) Last but not least; customers lose personal touch with their bankers.

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