Automated Teller Machines (ATMs) are data terminals for convenient money transactions.
Don Wetzel is credited as the inventor of the ATM.
He created the machine while working for the Docutel Company in Dallas, Texas, during the 1960s.
ATMs have eliminated the need to enter a bank for basic transactions and allow access to accounts at machines throughout the United States.
Financial institutions started charging fees to use their ATMs in the mid-1990s, making the transactions very profitable for the host banks.
The use of ATMs has cut service staff in traditional banks, impacting employment in the industry.
As many machines are now commercially owned and leased in public venues, a technical industry for creating, leasing, and maintaining the machines has developed.
In India, the usage of ATM machines have significantly increased over the last 7 years, with more and more people being provided their salary accounts along with a debit card.
Even the business class uses the ATM machines to withdraw cash, make cheque payments and inquire about their balances.
Nowadays there is always a line at an ATM machine during normal working hours and at weekends.
Mostly all the banks have installed ATM machines for the convenience of their customers.
Mostly on weekends the server is usually down as a lot of people withdraw money at a time making the terminal go weak.
