What is ATM or Automated Teller Machine? A Simple Explanation for Kids and Teens

What is an ATM or Automated Teller Machine? A Simple Explanation for Beginners

Introduction to Automated Teller Machine or ATM for Kids and Teens

This video explains the concept of Automated Teller Machine in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about ATMs, or used as a money & personal finance resource by parents and teachers as part of a Financial Literacy course or K-12 curriculum.

What is ATM or Automated Teller Machine - A Simple Explanation for Kids Teens and Beginners
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Suitable for students from grade levels:

  • Kindergarten
  • Elementary School
  • Middle School
  • High School

The topics covered are:

Howdy Wall St. Willy! I heard someone talking about an ATM.

ATM for Kids Teens and Beginners - A Simple Explanation of Automated Teller Machine
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But what is an ATM anyway?

An ATM stands for Automated Teller Machine.

Well, what does it do?

Well, an ATM is used mainly for taking cash out of your bank account. But you can also deposit cash and do some other basic things like print an account statement.

What do I need to use an ATM?

Well, you would need a debit card, your password which is called a PIN, which stands for Personal Identification Number. A PIN is a 4-digit code that you need to enter when you take money out of an ATM.

Well, can I withdraw money if I have a debit card from one bank and the ATM belongs to another bank?

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Yes, but you will have an extra charge which is usually $2 to $5. But some banks will waive this charge for a few transactions every month.

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Can a credit card also be used in an ATM?

Yes, but you will face a very high interest for cash withdrawals.

Well, if someone steals my debit card, can they take the money out of my account using an ATM?

Automated Teller Machine or ATMs for Kids Teens and Beginners
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No. They will need to have your PIN too. And even then, you can just always call the bank and disable your debit card, which means nobody can take money out of your account using that debit card.

Yay!! Thank you very much for telling me about an ATM, Wall St. Willy.

You are welcome, Sooper Cooper. Remember, Finance is Your Friend!

Video Featured in the Below Financial Literacy Courses for Kids & Teens

Download Transcript: Ideal for Use by Teachers in their Lesson Plan to Teach Kids & Teens

Podcast: What is ATM or Automated Teller Machine

ATM or Automated Teller Machine
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