Final answer:
ATMs have multiple functions in banking, including cash withdrawals, deposits, balance inquiries, and transfers.
Explanation:
Automated Teller Machines (ATMs) have various uses in the banking industry:
- Cash Withdrawals: ATMs allow customers to conveniently withdraw cash without visiting a physical bank branch.
- Deposits: Some ATMs now accept cash and check deposits, providing a convenient way for customers to put money into their accounts.
- Balance Inquiries: Customers can check their account balances and recent transactions at ATMs.
- Transfers: ATMs enable users to transfer funds between linked accounts or even to third parties in certain cases.
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