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ATM Full Form

What is the full form of ATM?

The full form ATM, the abbreviation, is Automated teller Machine. An ATM is a type of electro mechanical machine that contains automated banking platforms that allow customers to conduct transactions without the aid of a teller or branch personnel. Most ATMs allow cardholders to withdraw cash using a debit or credit card.

It’s called ‘Automated’ because it operates automatically, ‘Teller’ for counting money automatically, and ‘Machine’ signifies machine.

However, ATMs are not known by the same name everywhere. In several countries, such as Canada, ATMs are referred to as ABMs, or Automatic Banking Machines, and the term banking refers to money transactions.

ATMs have got different names along with different locations, for example in many countries it is called Cash Point and in many countries, it is also called Hole in the Wall.

ATMs are helpful because they do quick self-service activities for the bank clients, such as cash withdrawals, deposits, bill payments, and account-to-account transfers.

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ATM Full Form in Hindi ( atm ka full form )

एटीएम का पूरा नाम ऑटोमेटेड टेलर मशीन है। एटीएम एक प्रकार की इलेक्ट्रोमैकेनिकल मशीन है जिसमें स्वचालित बैंकिंग प्लेटफॉर्म होते हैं जो ग्राहकों को टेलर या शाखा कर्मियों की सहायता के बिना लेनदेन करने की अनुमति देते हैं। अधिकांश एटीएम कार्डधारकों को डेबिट या क्रेडिट कार्ड का उपयोग करके नकद निकालने की अनुमति देते हैं।

इसे ‘ऑटोमेटेड’ कहा जाता है क्योंकि यह स्वचालित रूप से संचालित होता है, स्वचालित रूप से पैसे गिनने के लिए ‘टेलर’, और ‘मशीन’ मशीन को दर्शाता है।

हालाँकि, एटीएम को हर जगह एक ही नाम से नहीं जाना जाता है। कनाडा जैसे कई देशों में, एटीएम को एबीएम या ऑटोमैटिक बैंकिंग मशीन कहा जाता है, और बैंकिंग शब्द पैसे के लेनदेन को संदर्भित करता है।

एटीएम के अलग-अलग स्थानों के साथ-साथ अलग-अलग नाम हैं, उदाहरण के लिए कई देशों में इसे कैश प्वाइंट कहा जाता है और कई देशों में इसे होल इन द वॉल भी कहा जाता है। एटीएम महत्वपूर्ण होते हैं क्योंकि वे बैंक ग्राहकों के लिए त्वरित स्व-सेवा गतिविधियाँ करते हैं, जैसे नकद निकासी, जमा, बिल भुगतान और खाते से खाते में स्थानांतरण।

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History of ATMs

The first-ever ATM was installed at Citibank in New York in the year 1961. At that time the ATM was known as Bankograph. However, the then customers considered it easier and safer to transact by filling the form or going directly to the bank, due to which the ATM system did not get any special fame. As a result, the ATM installed in Citibank of New York was removed after only 6 months and it was assumed that the ATM machine is not profitable in the banking sector.

However, this confusion was dispelled when an ATM was installed in Japan in the year 1966, due to which the banks benefited a lot. By installing ATMs, the employees of the bank got the free time due to which they could concentrate on other work and there was a huge reduction in the crowd in the banks.  In view of this, ATMs were also installed in other banks of Japan and from there gradually this service started pleasing the people of other countries as well. Thus, almost from the very beginning, the development of ATMs in developed countries was almost uniform.

In just a few years, ATMs had spread around the globe, with a presence in every major country. There are over 3.5 million ATMs in use around the world now.

 

ATM Full Form and Types of ATMs in English

ATMs are of two types:

Basic Units- Clients can only withdraw cash from basic units, which also display their account balance.

Complex ones- The most complex devices let you deposit cash, make credit card payments and transfers, and view account information.

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ATM Full Form: Security Concerns

An ATM PIN is given to the customer along with the ATM card, which is confidential i.e. you do not have to share that PIN with anyone, it is your own. Using this PIN, you can withdraw money from your card anytime and anywhere by going to an ATM. Without that PIN, you cannot withdraw any amount of money. Thus it is a security feature which is a 4 digit PIN.  For more security, a limitation has been imposed on using the wrong PIN.  Due to which if the wrong ATM PIN has been entered three times then your ATM card gets blocked. At present, ATM security is done through PIN but it is gradually being changed to biometric technology, which might require your fingerprint to withdraw money instead of an ATM PIN, in order to enhance security.

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FAQs

What is the full form of ATM?

The full form ATM, the abbreviation, is Automated teller Machine.

What is an ATM?

An ATM is a type of electromechanical machine that contains automated banking platforms that allow customers to conduct transactions without the aid of a teller or branch personnel.

How are ATMs beneficial?

ATMs allow people to do banking transactions without the assistance of a teller. Customers can also access financial services without visiting a bank branch. The majority of ATM transactions can be completed with a debit or credit card. Some transactions do not require the use of a debit or credit card.

Who is known as the inventor of ATMs?

John Adrian Shepherd-Barron, a British inventor of Indian descent, led the team that installed the first cash machine, now known as an automated teller machine or ATM.

What are the functions of an ATM machine?

ATM machine functions include:

  • Mini statement
  • Regular payment of the bill
  • Account balance details
  • Recharge of prepaid mobile
  • Change the pin code
  • Deposit of cash
  • Withdrawal of cash
  • Transfer of cash

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