subject: Pros and Cons of Using ATM Banking [print this page] Pros and Cons of Using ATM Banking Pros and Cons of Using ATM Banking
With today's advanced technology, people are now inventing ways on how to make our lives more convenient and one example is the ATM banking system. In order for us to determine the advantages and disadvantages of using ATM banking, we should first know what ATM banking does mean.
Actually, ATM banking is no different than the traditional way of banking. The only difference is the means on how you would access your money. In a typical banking system, in order for you to withdraw cash, you still have to go to your bank branch and get in a banking queue. But with ATM banking, you no longer need to wait for a very long time.
Here are some of the advantages of using ATM banking. The number one advantage of using ATM banking is the convenient and the ease when we need to have access to our funds. Another is that we can withdraw anytime and anywhere provided that there is an ATM machine. And as mentioned above, you no longer need to wait for long bank queues in order for you to withdraw your cash.
But along with the many advantages of using ATM banking, it also has several disadvantages. One example is the limited amount of money that you can withdraw on a certain transaction. You can only withdraw the amount of money based on the limit set by the bank and the ATM machine itself. Another disadvantage of using ATM banking is when another person gained access to your PIN, he or she can then access your account easily.
Another disadvantage of using ATM banking is when the system itself fails. If you are currently having a transaction with an ATM and the system suddenly fails, chances are that you will have hard time getting your car out.
