What is an ATM?
In today’s workshop, you will learn:
- The parts of an ATM
- How to withdraw money from an ATM
- How to use an ATM safely
ATM is short for Automated Teller Machine. An ATM is a machine that provides cash from your own bank account.
Most ATMs will let you:
- withdraw money from your bank account, or
- deposit money into your bank account
When you withdraw money, you take money out of a bank account. When you withdraw money from an ATM, you will get paper money. Paper money is small pieces of paper that are worth $5 and up. Paper money is also called cash or bills. Cash is paper money and coins.
When you deposit money, you put money into a bank account.
ATMs can be faster than going to the bank. You can usually use them even when the bank is closed.
Let’s talk about it:
Have you used an ATM before?
Where are some places you might find an ATM?
Meet John
John brings his debit card to the convenience store to buy some snacks.
A debit card is a card from your bank. It lets your spend money from your bank account. It also lets you use an ATM.
When John gets to the store, he sees a sign on the door that says “Cash Only.” John doesn’t have any cash with him, though.
John says, “I know I can use my debit card to get cash
from an ATM, but I’ve never done it before.”
Let’s help John use an ATM.