Today banks have become a part and parcel of every individual’s life. When the business and commerce tend to be on the electronic nodes, it covers any form of business including banking.
Modern banks have to be well-versed in Information Technology –its users and applications. Banking divisions have to be IT based, with the spread of digital economy. E-banking is more of a science and art. E-banking is knowledge-based and mostly scientific in using electronic devices of the computer revolution.
Banks play an important role in the modern business world. The word, ‘Bank’ is said to have derived from the French word ‘Banco’ or Bacus (or) Banc (or) ‘Banque’ which means a ‘Bench’. In fact, the early Jews in Lombardy transacted their banking business by sitting on benches.
The term bank was symbolically used to denote a money changer. The word “Bank’ refers an institution which borrows money from the public sector at lesser rate of interest and lends money to the needy at higher rate of interest. Continually evolving computer hardware and software have allowed organizations to significantly change their work processes, new products and services have been developed and the technologies continue to cover their capabilities and applications. ATMs –Automated Teller Machine
ATMs have become the order of the day in banking. Most banks are networking the ATMs. A network of connected ATMs of various banks has resulted in the improvement of customer services. They can effectively reach out a large customer base at low cost.
The customers by inserting a plastic card get currency notes from ATMs and their bank balance is revealed through ATMs. When the card is inserted in the ATM, the machine identifies the card holder and asks for Personal Identification Number (PIN). When the card holder pressed the correct number, the machine shows the menu screen to transact all types of transactions like withdrawals, deposits, balance enquiry, change of PIN etc.
Banks have started dispensing railway tickets, airway tickets, movie tickets etc., through ATMs. It has attained popularity very quickly and hence the researcher has made an attempt to make a study about ATMs. Objectives of the study
* To understand the consumer satisfaction on ATMs.
* To understand the different types of ATM cards used by customers in different banks viz., HDFC, ICICI, AXIS Bank, SBI and Canara Bank. * To identify the problems faced by card holders.
* To suggest measures to minimize the problems of ATM card holders.
Need for this study
The main aim of this study is to get in depth knowledge about ATMs which has made a remarkable simplification in the banking operations and activities.
For Survival Finance Security Bank Electronic ATM
Importance of this study
Bank provides services to their customers. One of the services is ATM. Now a days, ATMs have become indispensable for cash withdrawals, balance enquiry and for depositing the money. ATMs are beneficial from the point of view of customers especially and it reduces the workload of banks.
The duty of the banker does not end with providing services during banking hours but to provide services all through the day inclusive of holidays.
ATM Banking has become successful due to its two main features, namely: * Any time banking – 24 hrs banking
* Any where banking – Global banking
Due to these two outstanding features, the ATM banking gets highlighted amongst the existing branch banking.
The study is an analytical study which enables the researcher to understand about the customer satisfaction of ATM cards. Different banks are issuing ATM cards. The respondents using ATM cards were contacted using simple random sampling. Questionnaires were given to the respondents through friends and relatives. Most of...