What is an ATM? Automated teller machine Allows you to do simple banking transactions, usually 24 hours a day Examples: depositing money, withdrawing money (getting cash), or checking your balance from either your savings or checking accounts. In Tokyo, the ATMs are closed for three days during the New Years Day. Do you know why?
Benefits of Using an ATM Easy access to banking services Easy access to cash. This reduces the need to carry large amounts of cash.
Using an ATM You will first need to have a bank account. The bank will mail you your ATM card and a PIN (Personal Identification Number). You need to keep the PIN secret so that no one can use your ATM card. To use the ATM, you will first place your card into the machine, and enter your PIN. Then you will be able to do your banking.
ATM Safety Safety is important when using the ATM. Keep your PIN number a secret, and do not disclose it to anyone. Do not write your PIN number on your ATM card. Do not keep your PIN on a piece of paper in the same location as your ATM card. Do not keep this number in your wallet. For added security, change your PIN number periodically. If your ATM card is ever lost or stolen, report it immediately to your bank.
ATM Safety When entering your PIN, be sure no one is looking over your shoulder, and position yourself to block anyone from seeing your PIN code. When your transaction is complete, be sure to take your money and place it immediately in your wallet or purse.
ATM Safety Dont forget to take your ATM card before leaving. Do not stand around and count your money at the ATM. If there is a discrepancy between the amount withdrawn, and the cash received, then notify your bank immediately (be sure to identify the machine that you used).
ATM Etiquette Give the person using the ATM distance while you wait to use the machine. Complete your transaction as quickly as possible. Dont leave your bank receipt or trash at the machine.
Fees and Transaction Costs PROPRIETARY ATM. Your bank owns the machine. In most cases, you dont have to pay a fee for using its ATM. NON-PROPRIETARY ATM. The machine is owned by another bank. If you use a non-proprietary ATM either your bank, the other bank, or both banks will charge you a transaction fee.
Fees and Transaction Costs NATIONAL ATM. These ATMs are connected to a national network. There are often fees associated with using these ATMs. OTHER ATMs. ATMs can now be found in many different locations such as grocery stores, gas stations, etc. They are there for your convenience, but expect to pay high fees. Be careful about ATM fees. Try to use a bank account that does not charge you for using their machines, and try to stick to using your own banks ATM machine.