Having ATM machines in different parts of the city saves banks the trouble of having to put up branches everywhere. They can only have branches in select parts of the city where large wholesale and corporate transactions are made, and serve their retail customers using the ATM machines. This saves them the trouble of having to recruit a large number of employees, and having them in branches that might not necessarily get that many customers.
For the customers also having ATM machines close to their homes or their offices work to their benefit. They can simply walk up to a machine whenever they want to make a transaction and complete the process as quickly as possible. Since many of these machines are conveniently located they can be accessed easily, and the customer is saved a lot of travelling time.
It takes a lot less space to install an ATM machine rather than a full-fledged branch. In large cities where real estate prices are exorbitant, this works out as a huge cost saving measure for the banking firms. There is also no staffing required for an ATM machine other than the cost of hiring a security guard, and the machines can be installed even in the vicinity of residential complexes allowing the banks to directly reach the customer.
It is also possible to use the ATM machines of other banks, which means that even if the customers are not able to find an ATM machine of their own banks, they can always use the machines of other banks. They can make monetary transactions from just about anywhere. This is not possible if banks only gave branch facilities to their customers.
Most ATM machines are open, round-the-clock. This means that customers can use them in the early hours of the morning or in the late hours of the night. They can withdraw cash in urgency before that long road trip or get some quick cash just after they have returned from a long holiday.
ATM machines offer numerous other benefits as well. For instance, they can be used for checking bank balances. They can also be used for making payments. With so many advantages, it is little wonder then that ATM machines have become the standard portal which the banks use to interact with their customers. Customers no longer stand in long queues at the teller’s counter in a bank’s branch. They simply walk into the ATM machine next door.