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An ATM or Automated Teller Machins is a machine, activated by a magnetically encoded card or another medium, that can process a variety of banking transactions. These include accepting deposits and loan payments, providing withdrawals, and transferring funds between accounts. ATMs are sometimes referred to as cash machines.
ATMs have grown to offer more than cash. In many ways, it’s an automated terminal used to conduct business with a financial institution or purchase items such as postage stamps or transportation tickets.