The banking institutions have benefited greatly from wholesale ATM machines. They do not need to employ as many tellers to start off with and the turn around time for transactions is drastically improved. This may be great for the banks, but not necessarily for all the staff who had to be laid off to accommodate the new systems.
They do make life so much easier and less time consuming that going into a bank to withdraw cash, deposit, transfer or buy prepaid airtime. Banking has become one of the less irritating chores to deal with these days with the convenience of automated banking. Being able to send your grandchildren money is as easy as one, two, three when you use an ATM machine.
Another incentive for using an ATM is being able to top up cell phone accounts. Pay accounts to creditors and being able to draw statements for up to 3 months. Many companies require three months bank statements in order for you to apply for credit and once again, you don't have to stand in the very long queues at the inquiry counter, you can just go to your ATM machine and stipulate the dates you need the statement from and it prints all three months out for you.
As with so many things in life, educating our children how to handle money should start at a very young age. There is nothing more exciting for a child to have their own bank card and to be able to go with you to an ATM and deposit money into their account that they may have received as a birthday gift. Or to draw money that a favorite Aunt may have deposited into their account for them.
The fraudsters are very clever and extremely fast. One starts talking while the other whips your card out from under your nose. You think the card has been taken by the machine but the sneaky thief just waits for you to rush into the bank and before you know it your money has been withdrawn from your account.
Many bankers are too busy spending the money on themselves to care about the people who lose their jobs. If the person is eligible for a pension, in some countries, it is so paltry they will barely be able to feed themselves for a month. If there is an unemployment fund, that does not last very long and who is going to employ someone who is past their prime.
Being wise with money is a lifetime of discipline. There are times when one has to take a risk here and there and many who have been very fortunate to reap great benefits from those risks by making a lot of profit. One only has to read the many books on the market written by financial giants who have risked and lost everything, only to start again at the bottom and work their way back up to making a fortune.
There are advantages and disadvantages of having wholesale ATM machines in our world. Taking the good with the bad it would be an interesting exercise to weigh up who wins and who loses in the end. It will very unlikely be the man on the street or the loyal staff member who has twenty years service in the bank.
They do make life so much easier and less time consuming that going into a bank to withdraw cash, deposit, transfer or buy prepaid airtime. Banking has become one of the less irritating chores to deal with these days with the convenience of automated banking. Being able to send your grandchildren money is as easy as one, two, three when you use an ATM machine.
Another incentive for using an ATM is being able to top up cell phone accounts. Pay accounts to creditors and being able to draw statements for up to 3 months. Many companies require three months bank statements in order for you to apply for credit and once again, you don't have to stand in the very long queues at the inquiry counter, you can just go to your ATM machine and stipulate the dates you need the statement from and it prints all three months out for you.
As with so many things in life, educating our children how to handle money should start at a very young age. There is nothing more exciting for a child to have their own bank card and to be able to go with you to an ATM and deposit money into their account that they may have received as a birthday gift. Or to draw money that a favorite Aunt may have deposited into their account for them.
The fraudsters are very clever and extremely fast. One starts talking while the other whips your card out from under your nose. You think the card has been taken by the machine but the sneaky thief just waits for you to rush into the bank and before you know it your money has been withdrawn from your account.
Many bankers are too busy spending the money on themselves to care about the people who lose their jobs. If the person is eligible for a pension, in some countries, it is so paltry they will barely be able to feed themselves for a month. If there is an unemployment fund, that does not last very long and who is going to employ someone who is past their prime.
Being wise with money is a lifetime of discipline. There are times when one has to take a risk here and there and many who have been very fortunate to reap great benefits from those risks by making a lot of profit. One only has to read the many books on the market written by financial giants who have risked and lost everything, only to start again at the bottom and work their way back up to making a fortune.
There are advantages and disadvantages of having wholesale ATM machines in our world. Taking the good with the bad it would be an interesting exercise to weigh up who wins and who loses in the end. It will very unlikely be the man on the street or the loyal staff member who has twenty years service in the bank.
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