What is the full form of ATM


ATM: Automated Teller Machine

ATM is an acronym stands for Automated Teller Machine.

ATM is an automatic banking outlet which facilitates customers to complete basic money transactions without the help of a branch representative or teller. Customers are provided a credit or debit card to do transactions on the ATM.

ATM is a complicated piece of technology. It is not invented by a single inventor. Instead, the ATMs we use today are an amalgam of several different inventions.

Types of ATMs

Generally ATMs are three types:

  • ATMs which dispense cash but do not accept deposits.
  • ATMs which accept deposits but don not dispense cash.
  • Advance ATMS which can do almost anything a human bank teller can, and have ushered in a new era of self-service in banking.

History

The first ATM is introduced in London in 1967, and in less than 50 years, ATMs spread around the globe, in every major country and even in small town and villages.

 

Note: PIN is a 4 digit security number provided by the bank with the ATM card. PIN number is changeable, you can change it according to your accessibility..

Top 15 uses of ATM Machine

  • Shopping
  • Recharging airtime on mobile phones and devices
  • Quick Teller Option
  • Buying and transferring airtime to others
  • Cash Withdrawer
  • Printing of Mini Statement of your account
  • Intra Bank transfer
  • Send or transfer money to your family members, relatives or friends
  • Check account balance
  • Check account number
  • Payment for DSTV, ELECTRICITY BILL and other utility Bills
  • Airlines: Payment for Pre-booked Aero Air Tickets and others
  • Card based cash deposit
  • Cardless cash deposit
Automated Teller Machine