Expansion Of Banking In India Through ATM.

The technological advancements is been proved beneficial to the customers and even the banks with the introduction of the Automated Teller Machine (ATM). ATMs have been used by banks not only to expand their reach to customers, but also to offer value-added services. The ATMs offer convenience to customers and provide banking services well beyond the traditional banking.

ATM is a plastic card which looks like a credit card. ATM cards are issued only to those individuals who are majors and holding either a Savings Bank or Current Account. If you carry your ATM card then there is no need to carry cash with you. Using an ATM, customers can access their bank accounts in order to make cash withdrawals (or credit card cash advances) and check their account balances. Many ATMs also allow people to deposit cash or checks, transfer money between their bank accounts, pay bills, or purchase goods and services. By using your ATM card and the password to your account i.e. Personal Identification Number (PIN) you can have access to ATM 24 hrs a day and seven days a week at many locations.

ATMs are spread across all residential and commercial areas, major landmarks like petrol pumps, airports, railway stations and other easily accessible places in the country. When you are out of your city there is no need to carry much cash with you as u can use your ATM cards. State Bank of India offers you the convenience of over 6473 ATMs in India. SBI has a tie-up with thirteen other banks for 9,200 ATM facilities, ICICI Bank provides ATM cum debit cards to its customers that enable them to access the banking services through a network of over 3469 ATMs. Other than this HDFC Bank, United Bank of India, Bank of Baroda etc also provides you the service of ATM cards.

The use of ATM cards will involve costs to provide the services. As a result, there may be fees associated with your use of the card. The fees may vary, depending on your relationship with the bank or institution and whether you are withdrawing cash or making direct purchases using ATM. Most Banks would not charge you any fees for using ATM at their bank locations, but if you use your ATM somewhere else then you would be charged with some fees. So try to avoid ATM at some other places.

The number of people using ATMs is incessantly increasing day by day. Today the banks have reached the rural masses also. According to the ‘ATM user survey 2008’ the number of ATMs installed in India grew by 28%. Despite the regular growth, India scores very low in ATM penetration even by Asian standards. While we have 23 ATMs per million people, China has 55 and South Korea has 1600. Industry estimates are that for ATMs to be viable, at least 10,000 transactions a month or 300 a day should be the target. Total cash movement through ATMs across India was around Rs. 70,000 crore India along with other BRIC countries will invest heavily in ATMs till 2011. No wonder that banks are looking at bringing in advanced technologies. As they go forward, multifunctional ATMs will hold the key in the immediate future.

ATMs keep your PIN and other information safe by using encryption software. But there are lots of things that you can do to protect your information and your money at an ATM.

• Don't write down your PIN. If you write it down, do not store it in your wallet.
• Avoid using birth dates, initials, house numbers or your phone number.
• Store your ATM card where it won't get scratched or bent.
• Stand directly in front of the ATM keypad when typing in your PIN. This prevents anyone waiting to use the machine from seeing your personal information.
• If someone or something makes you uncomfortable, cancel your transaction and leave the machine immediately. Follow up with your bank to make sure the transaction was cancelled and alert the bank to any suspicious people.