The first ATM appeared in London in 1967, and in less than 50 years, ATMs spread around the globe, securing a presence in every major country and even tiny little island nations such as Kiribati and the Federated States of Micronesia.

ATMs are convenient, allowing consumers to perform quick, self-serve transactions from everyday banking like deposits and withdrawals to more complex transactions like bill payments and transfers.

Modern banking have really paved way for the automated teller machine, and right now in 2019, every bank have the atm machine. So let’s look at the advantages of atm to the bank and its customers.

Advantages Of ATM To The Bank

Advantages of atm

Below are the main advantages of automated teller machine

1. Fastest means of cash withdrawal

The major advantages of atm is fastest means of cash withdrawal, which reduces crowd in the banking hall and quick money withdrawal to the bank customers.

2. Balance Inquiry

Atm helps for easy balance inquiry without the bank customer going inside the bank or inquiring from the customers service representative.

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3. Transfer Money

Another good advantage of atm is that it helps a customer to transfer money from his or her account to another bank, this in turn reduces workload on the bankers in charge.

4. Pay utilities bills

With atm, you can easily pay utility bills like Electricity bills, dstv or gotv etc. You don’t really need to go their centers, on the atm machine, key in the right codes and you’re good to go.

5. Request for Statement of account

One atm advantages to the bank and its customers i love so much too. Instead of going inside the bank, head to any atm machine near to you and use it to request your statement of account for the month.

5. Request for Statement of account

One atm advantages to the bank and its customers i love so much too. Instead of going inside the bank, head to any atm machine near to you and use it to request your statement of account for the month.

Note atm machine is 24/7 avaliable for all cash withdrawal or inquiry, though some countries closes midnight because of insecurity.

The above are the five major advantages of atm to the bank and its customers, you are free to add yours thanks.