AUTOMATED TELLER Meaning and
Definition
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An automated teller, also known as an ATM (Automated Teller Machine), is an electronic device used by individuals to withdraw cash, make deposits, obtain account information, and carry out various financial transactions, without the need for human assistance.
With their wide availability in banks, retail outlets, and public places, automated tellers have become an integral part of modern banking. The typical appearance of an ATM consists of a keyboard, a display screen, a slot for the insertion of debit or credit cards, and a cash dispenser. These machines work by connecting directly to the user's bank account through secure networks.
When using an automated teller, customers are required to input their Personal Identification Number (PIN) to prove their identity and gain access to their accounts. They can then choose from a range of options such as cash withdrawals, balance inquiries, funds transfers, and bill payments. Additionally, some ATMs offer additional services like printing statements, buying prepaid cellphone credits, or initiating loan applications.
The primary advantage of automated tellers is their convenience, as they remain operational throughout the day and night, allowing users to carry out transactions at their own convenience. This eliminates the dependence on bank operating hours and staff availability, particularly in remote or after-hours situations. Furthermore, automated tellers are renowned for their speed, ease of use, and ability to handle multiple transactions simultaneously, significantly reducing waiting times for customers.
In conclusion, an automated teller is a self-service electronic device, enabling individuals to conduct banking transactions, providing increased accessibility, convenience, and efficiency in the financial realm.
Common Misspellings for AUTOMATED TELLER
- zutomated teller
- sutomated teller
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Etymology of AUTOMATED TELLER
The term "automated teller" can be broken down into two parts: "automated" and "teller".
The word "automated" comes from the word "automate", which originally entered the English language in the 1950s. "Automate" is derived from the Greek word "automatos", which means "self-acting" or "self-moving". The root word "auto" means "self", and "mate" is derived from "matos", meaning "motion" or "mover".
The word "teller", in this context, refers to a person who counts and handles money in a bank. This usage comes from the late Middle English term "tellen", meaning "to count" or "to relate numbers". The noun "teller" emerged in the 18th century referring to a bank employee responsible for counting and dispensing money.
Similar spelling words for AUTOMATED TELLER
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