How to Use an ATM - Essay Example

How to use an ATM Knowing how to use an ATM has become imperative in today’s fast paced world. First used in 1959, the Automated Teller Machine, or ATM as we more commonly know it as, has made its mark as a necessity, and less of a luxury. ATMs save the average individual’s time since he no longer has to wait in long bank queues. Moreover, the fact that ATMs are strategically located in malls, shopping centers, cinemas and amusement parks means that one no longer needs to be afraid of running out of cash at the wrong time. While ATMs are relatively user friendly, they can nevertheless, be confusing and intimidating for those who have never used the machine or for those who are uncomfortable by technology in general. A simple step-by-step guide to using an ATM machine can hopefully dispel such apprehensions, since an ATM is a facility that all should access without fear. This guide may also be useful for those individuals who are comfortable with an ATM, but need to be aware of the precautionary elements involved in using such a machine in a public place. Indeed, it is only through the wise and careful use of technology that it can be harnessed fruitfully for one’s own benefit. While most commonly used for the purpose of cash withdrawal, an ATM can be used for multiple other tasks as well. These include: Cash withdrawal Cash deposit This guide will give step-by-step instructions to conduct the above mentioned tasks, in addition to providing precautionary information. Things needed: ATM Card: This card is provided by the bank. Personal Identification Number (PIN): The PIN is the code to accessing the account, therefore, must be kept hidden and secure at all times. A stolen card is of little value to the thief if the PIN is unknown. ATM: An Automatic Teller Machine is specifically designed for the purpose of making transactions via an ATM card. It provides quick and easy access to one’s bank account and is usually situated in easy and accessible locations. Important: it is extremely important to be wary of one’s surroundings while choosing a machine for your transactions. Some useful things to look out for: Make sure the ATM is not situated in an isolated place The ATM is in a well lit place There are people around, but not too close to see you enter your PIN Make sure you haven’t been followed by someone Remember! If at any point you feel uncomfortable with the ATM, look for another one, or go to a bank for your required transaction. Personal safety is always the first priority! Cash Withdrawal: Once a secure ATM has been chosen, carefully follow these steps to withdraw cash from the machine: Insert the ATM card into the machine. There will be a slot indicating the correct direction in which the card needs to be inserted. Remember: do not try inserting a card if the slot is not free. It may result in malfunctioning of the machine, and eventual confiscating of the ATM card. To avoid all such problems, be patient and insert the card in the card slot only when a green light is on. Once the card is inserted, select a language. This option is available for ATM cards that are registered in banks that support multiple language options. After selecting the language, the ATM screen will ask you to enter your Personal Identification Number. Carefully enter the correct code, and press Enter. This will give you access to your personal account. The screen will now display a list of options to choose from, including cash withdrawal and fast cash. Both options are for cash withdrawal purposes, however, fast cash allows you to go through the process quicker. Cash withdrawal: Select the cash withdrawal option The machine will ask you to enter the amount needed to withdraw Use the ATM’s keypad to enter the amount you wish to withdraw. Remember, there is a limit to the amount of cash one can withdraw from an ATM. While the limit differs from country to country and region to region, it is useful to be aware of the limit on cash withdrawals to avoid future inconvenience. Moreover, teller machines will require you to enter in the amount in fixed denominations. This means that the machine, for example, will only give out money in $20 bills, and therefore, will require you to enter an amount that is a multiple of 20. Once the required and acceptable amount is entered, press enter. Wait for a couple of seconds while the machine processes your request. Your amount will come out through a slot designated for money output. Take the money. After a few seconds, your ATM card will be ejected from the machine. The transaction is now complete. ATMs also provide the option of depositing money for many of its customers. Deposits can be made in an ATM, although not all ATMs offer this facility. Even so, it is useful to be aware of the proper method of accessing this facility. Deposits can be made in two forms: Cash deposit Cheque deposit Cash Deposit: For Depositing cash into your account through an ATM, you need the following things: A Deposit Slip An Empty Envelope Your ATM Card Your Personal Identification number(PIN) The Deposit slip and envelope are usually found inside the ATM in small compartments. It is important to use the envelope provided in the ATM, since the machine is designed only to accept a particular sized envelope. Take one of each, the envelope and the deposit slip. Carefully fill in the deposit slip with the amounts you are depositing. Remember, you should write in clear and understandable handwriting on the deposit slip. This is extremely crucial since any illegibility may lead to future problems in recording the transactions. Use a black or a blue pen to fill in the deposit slip, which is also available inside the ATM. Write out the total amount you are depositing, as well as the denominations being used to deposit money. Place both the deposit slip and the money in the envelope. It is useful to know that some banks do not require a deposit slip for cash deposits through an ATM. In such a scenario, simply place the cash amount inside the envelope. You also have the option to deposit a check in which case you have to fill in the cheque and also sign at the back (known as endorsing the cheque). You can also deposit multiple cheques at a time. However make sure the cheques are properly signed, and written up in clear handwriting with no cancellations. For cheque deposits, the procedure of filling in the deposit slip is the same, but the column marking the denominations of the currency inside the envelope does not need to be filled. The next step is to place the cash or cheque(s) into the envelope with the deposit slip (if required) and seal the envelope. If the first transaction you are conducting is that of a depositing money, follow the following steps: Insert your Debit card into the ATM machine when the slot is open and shows a green light. Enter the Personal Identification Number (PIN) and press enter. Make sure the PIN is entered correctly, because repeatedly entering the wrong Identification number may result in confiscation of the card due to security reasons. As soon as your correct PIN is accepted, the “Select a Transaction” menu will appear on the screen. You have to select the Cash Deposit option. Then enter the exact amount you have to deposit. This amount should be the same as the amount you have put into the envelope in the form of cash or cheque. If it is not, then the ATM will not accept the money deposit and the money cannot be deposited. Then insert the envelope consisting of the cash or cheque(s) in to the deposit slot when the machine opens it. Be very careful in inserting the envelope. And be patient of any time lag. After your money is successfully deposited into your bank account, the ATM will offer you get a receipt of your transactions. If you want the receipt, click yes, and wait for the receipt to come out. In the mean time your card will come out as well. Collect the card and the receipt. Always remember to take your card once your transaction is complete! Read More