When you make a transaction over an automated teller machine (ATM), you hear the question â€œwould you like a printed receipt for your transaction?â€. This question seems very simple at the time because there is a lot more to an ATM receipt than just the usual random digits. Hereâ€™s why you should never throw away your ATM slips. It can be used as a proof of your transaction. The dispensation from the ATM and the debit to the account is not a one-step process. There are multiple steps during this process between the hardware of the ATM, the software controlling the ATM and the core banking software, which increases the chances of errors. In such cases, the bank requires the receipts to rectify the errors promptly.
ATM receipts help you to know if another person is secretly withdrawing money from your account. By keeping a record of the amount of money you have withdrawn and by looking at the remaining balance indicated on the receipt, you will know if anyone except you is withdrawing your money.
These receipts are valuable even after throwing them in the dust bins. Because sometimes, hackers keep a watch at an ATM and when an unsuspecting person throws his ATM slip away, the hacker uses it to decode it, for accessing his account.