- ATM Full Form
- In this post, you will get the ATM full form.
ATM Full Form: Automated Teller Machine
- ATM stands for Automated Teller Machine.
- Automated Teller Machine is an electronic banking outlet which allows customers to perform basic banking transactions without the help of a bank representative or teller.
- A person with a debit card or credit card can get cash at an ATM.
- ATMs allow customers to perform basic banking transactions such as cash withdrawals, cash deposits, account transfers etc.
- ATMs are known in different parts of the world by different names like Automated Teller Machine (ATM) in United States; Automated Banking Machine (ABM) in Canada; Cash Point, Cash Machine and Hole in the Wall in England.
- Other names include Any Time Money, Cashline, Nibank, Tyme Machine, Cash Dispenser, Cash Corner, Bankomat, Bancomat etc.
History of ATM
- The first ATM was setup at a Barclay’s Bank branch in London in 1967, although some reports tell about a cash dispenser in use in Japan in mid-1960s.
- The inter-bank communications networks which allow consumers to use one bank’s card at another bank’s ATM were introduced in 1970s.
- Within a couple of years, ATMs spread across the globe, being present in every country.
- Now they have reached every nook and corner of the world including the small island countries.
- There are now more than 3.5 million ATMs worldwide.
- However, the use of ATMs is gradually declining with the increase in cashless payment systems.
Types of ATM
- Generally there are 2 types of ATMS.
- The basic ones allow customers to withdraw cash and receive their account balance updates.
- The complex ones allow customers to deposit cash, perform account transfers and access their account information.
Parts of ATM
The designs of ATMs might be different, but they contain same basic parts:
- Card Reader: The card reader reads the chip on front of the card or the magnetic stripe on back of the card.
- Keypad: Customers input their passwords or other information through the keypad.
- Cash Dispenser: The cash dispenser is a slot in the machine which dispenses cash and is connected to a safe at the bottom of the machine.
- Printer: The printer prints the receipts which customers request for. The receipt provides mini statement, account balance etc.
- Screen: The screen guides the customers through the process of executing the transaction. It also shows the information such as account information and balances.
Interesting Facts about ATM
Some of the interesting facts associated with ATM are as follows:
- Inventor of ATM: John Shepherd Barron.
- ATM PIN: John Shepherd Barron first thought to keep a 6 digits PIN for the ATM, but his wife was not able to remember the 6 digits PIN. So he fixed the ATM PIN to be of 4 digits.
- World’s first floating ATM: State Bank of India ATM in Kerala, India.
- First ATM in India: Installed by HSBC (Hongkong and Shanghai Banking Corporation) in 1987.
- First ATM in the World: It was installed on 27 June 1967 at the Barclays Bank of London.
- First Person to use ATM: The famous comedy actor Reg Varney was the first person to withdraw cash from the ATM.
- ATM without an Account: In Romania, an European country, one can withdraw money from an ATM without having a bank account.
- Bio-metric ATM: Bio-metric ATMs are used in Brazil. As the name suggests, the users are required to scan their fingers at these ATMs before being able to use them.
- World’s Highest ATM: The highest altitude ATM has been setup by National Bank of Pakistan in Khunjerab Pass, Gilgit-Baltistan, Pakistan Occupied Kashmir (PoK), India.
ATM Full Form Questions & Answers
Following are some of the Frequently Asked Questions (FAQs) regarding ATM full form:
ATM full form in Hindi?
ATM full form in Hindi:
ATM – एटीएम |
Automated Teller Machine – स्वचालित टेलर मशीन |
ATM full form in Chemistry?
ATM full form in Chemistry:
ATM in Chemistry stands for Atmospheric Pressure.
It is defined as the pressure exerted by the weight of the atmosphere, which at sea level has a mean value of 101,325 pascals.
ATM full form in Text?
ATM full form in Text:
ATM – At The Moment.
ATM full form in Networking?
ATM full form in Networking:
ATM – Asynchronous Transfer Mode.
It is a networking technology that transfers data in packets or cells of a fixed size.
ATM full meaning?
ATM full meaning:
ATM – Automated Teller Machine.
PIN full form?
PIN full form:
PIN – Personal Identification Number.
It is a secret numerical code allocated to a user that can be used to authenticate the user to a secured system like banking, communication etc.
CDM full form?
CDM full form:
CDM – Cash Deposit Machine.
In a CDM users can deposit cash without any manual intervention of a bank officer.
Bank full form?
Bank full form:
The term bank is either derived from Old Italian word ‘banca’ or from a French word ‘banque’ both mean a Bench or money exchange table.
Thank you for visiting your site GovtJobsGuide.in.
All the Best!