ATM Industry definition and classification

- Aug 22, 2018-

ATM, Mean Automated teller machines.


ATM are mostly used for withdrawals, also known as ATMs. It is a highly sophisticated mechanical and electrical integration device, using magnetic code card or smart card to achieve financial transactions self-service, instead of bank counters work. 


It can withdraw cash, inquire about the balance of deposits, transfer funds between accounts, inquire about the balance, etc. It can also carry out cash deposits (real-time entry), checking deposits (not available in China), passbook replacement, intermediary business and other work. Cardholders can use credit cards or savings cards to handle automatic withdrawals, inquiries about balances, transfers, cash deposits, passbooks, purchases of funds, changes of passwords, payment of mobile phone calls and other business according to passwords.