Online Banking

Interesting Facts You Didn’t Know About ATMs

Interesting Facts You Didn't Know About ATMs

Today, even though technology created new payment methods, paying with cash is still popular and widely used.

That is the main reason why ATMs are not becoming obsolete, but on the contrary, they have implement further technological advancements so you can use them with ease and without any problems. By checking out sites like ATM Mega Store, you will be able to see how to find the appropriate machine for your particular requirements.

However, most of us do not know anything about these machines, instead putting a card and provide instructions to get real cash. For instance, you probably did not know that the first machine was used in the USA, and that first models were dangerous to use.

1.      Understand Hidden Fees

You should have in mind that every single automatic teller machine will provide you cash, but you have to consider fees that you have to pay based on the transaction amount and other factors.

You probably know that you will get charger extra if you are not using the machine from your native bank. However, other fees may include a charge for a monthly paper statement, and even some banks will charge you a fee in case that you have insufficient fund.

2.      They Entered The Market Since the 1930s

The first ATM was made by Luther Simjian, and he submitted the patent for it before World War II. Back in the day, he called it Bankmatic and the first ever machine was installed in City Bank of New York; however, it was not popular as people thought that it would be.

That is the main reason why the bank got rid of it in six months after installation. At the same time, you should remember that John Shepherd-Barron was the first person that constructed these machines, but the main problem was the radiation that users had to be exposed during the use.

However, debit cards were not available back in the day, so people used to cash out check that contained carbon 14, so that machine could recognize it. You should check here to learn more on Bankmatic.

3.      It Was Simple To Breach By Thieves

You should have in mind that most burglars and criminals have been trying to breach and find ways to exploit automatic teller machines and their users from the very beginning.

For instance, early methods used fake machines and that lead to a point where high-end devices such as skimmers can record personal information.

That is the main reason why you should check out each machine before you decide to enter the card by looking for signs of tampering. If you notice anything, call authorities and choose another machine instead.

4.      Drive-Thru ATMs Feature Braille

Interesting Facts You Didn't Know About ATMs

Even though these sound strange, especially if you have in mind that blind and visually impaired people cannot drive cars and go through the drive-thru. However, according to ADA (Americans with Disabilities Act), every single machine needs to have markings.

This is perfect addition in case you have someone riding next to you, and you wish to avoid presenting your PIN to someone else. Therefore, you can use knowledge of Braille so that you can protect yourself along the way.

5.      Using Cash Is Smarter Option Than Cards

It is much more convenient to present a card and to avoid counting cash and taking the money inside your pockets or purse.

However, it is a much smarter solution to bring some money with you, because you will have a realistic approach to your budget and you can determine based on your current state.

Have in mind that some banks will take hidden fees in case that you pay with the card, so the best thing that you can do is to make everything from it into cash so that you can avoid loss due to hidden fees.

It is important to stay safe during the use of automatic teller machine, which is why you should enter this guide: https://www.wikihow.com/Stay-Safe-at-an-ATM to learn more about it.

6.      Friday Is The Most Popular Day For Using Them

Even though it is not surprising, you should have in mind that most folks across the globe are emptying machines before the weekend arrives. That is the main reason why during the weekends some devices can get empty due to frequent usage.

Of course, everything depends on provider and bank that you are using, but have in mind that it would be easier to take money before the weekend arrives so that you can reduce the hassle of going across town to pick up what you need.