what is an automated teller machine atm 
an automated teller machine atm is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller anyone with a credit card or debit card can access cash at most atms either in the u s or other countries atms are convenient allowing consumers to perform quick self service transactions such as deposits cash withdrawals bill payments and transfers between accounts fees are commonly charged for cash withdrawals by the bank where the account is located by the operator of the atm or by both some or all of these fees can be avoided by using an atm operated directly by the bank network that holds the account using an atm abroad can cost more than using one in the u s due to exchange rates or transaction fees 1history of atmsthe first atm appeared at a branch of barclays bank in london in 1967 though there are reports of a cash dispenser in use in japan in the mid 1960s 23 the interbank communications networks that allowed a consumer to use one bank s card at another bank s atm followed in the 1970s within a few years atms had spread around the globe securing a presence in every major country they now can be found even in tiny island nations such as kiribati and the federated states of micronesia 4atms are also known automated bank machines abms cashpoints or cash machines number of atms in use around the world 5types of atmsthere are two main types of atms basic units only allow you to withdraw cash and receive updated account balances the more complex machines accept deposits facilitate line of credit payments and transfers and access account information to access the advanced features of the complex units you often must be an accountholder at the bank that operates the machine 6you can now buy and sell bitcoin and other crypto tokens via bitcoin atms bitcoin atmsare internet connected terminals that will dispense cash in return for crypto they may also accept cash or credit card to purchase crypto there are now more than 28 000 bitcoin atms located around the world 7atm design elementsthe design of each atm may be different but they all contain the same basic parts full service machines often have slots for depositing paper checks or cash 8