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What Is an ATM Portal?

Article Details
  • Written By: Whitney Leigh White
  • Edited By: E. E. Hubbard
  • Last Modified Date: 09 September 2018
  • Copyright Protected:
    2003-2018
    Conjecture Corporation
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An ATM portal is a machine that is used by people as a way to withdraw cash funds from their checking account, savings account, and/or to access a cash advance from a credit card, as well as perform several other actions. ATM machines have several push or touchscreen buttons, and are fairly simple to use. Most banks and retail stores house an ATM portal, which makes it very easy for people to access cash in an almost instantaneous manner. Many times, an ATM portal will be compatible with only certain types of credit and debit cards. Almost all ATM portals charge the user some type of processing and/or transaction fee.

Banks will usually have an ATM machine both inside and outside of their locations. Providing ATM users with an outside location enables them to access cash funds after regular operating hours in either a walk-up or drive-through manner. Retail stores that do not accept certain types of credit or debit cards will generally provide customers with an ATM portal so that cash funds can be obtained, which allows the retail store to increase its profit levels.

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Even though ATM portals are very advantageous for those people who cannot make it to their bank during regular operating hours, many people choose not to use them because they typically have to pay a processing fee. This processing fee is charged by and paid to the lending institution of the person’s debit or credit card. In addition to a processing fee, many ATM portals will charge a transaction fee, which is paid to the owner of the portal. Transaction fees are used to pay for repairs and maintenance of the machine. ATM machines that are used often will generally have a higher transaction fee.

ATM machines are very simple to use. The user of the machine simply feeds it a debit or credit card and then is asked by the machine to type in a pass code. This pass code is often referred to as a Personal Identification Number, or PIN. After the user types in his or her PIN, the machine then asks the person how much money is to be withdrawn and from what account the person wants to withdraw the money. When using a credit card, the user will select to withdraw a cash advance.

After an ATM transaction is complete, the user is provided a receipt. The person can view his or her receipt to see exactly how much money was withdrawn, as well as how much money is left within the account from which the money was withdrawn. Before using an ATM portal, a user should make sure his or her card is compatible with the machine.

ATM portals also have a variety of other options available. A user can very easily deposit checks and cash into his or her bank account directly from his or her bank's ATM portal. In addition, a user can also check the balance of any of his or her accounts, as well as transfer funds from one account to another. Some ATMS in the United States even offer the ability to purchase postage stamps.

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