Last Updated on September 26, 2021 by admin
ATM Full Form – What is the full form of ATM?
ATM – What is the full form of ATM ? ATM full form meaning. Full form of ATM is Automated Teller Machine. How to use ATM safely ? How to use ATM?
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Friends, we will learn ATM full form today. You know 3.5 million ATM’s are available in the the world at the moment. And billions of the people are using ATM card across the globe. In India more than 90 Million people are using Debit card. People are using ATM regularly. But have you ever thought what is the full form of ATM ?
What is the full form of ATM?
Like me You must be using ATM in your daily activities right? We must use the ATM for all the work. From withdraw money to pay bills or to send money. But do you know what is the full form of ATM?
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ATM Full Form?
So, today we will learn the full form of ATM in this post. We heard the name of the ATM at some time or the other, but we may not know what is the full form of the ATM. So I am writing this post, about full form of the ATM. So Friends, along with the full form of ATM, we will also know some more details fact about ATM. Because I want to make share that after reading this post you don’t need to go anywhere to get knowledge about ATM. Let’s know what is ATM Full Form.
The full form of ATM is “Automated Teller Machine”.
If we analyze it then we will find,
A – Automated
T – Teller
M – Machine.
What is ATM ?
ATM is a machine that has made the lives easy of all of us. Due to having an ATM, we are able to save a lot of time or else we have to go to the bank and take paperwork to withdraw money. Which can take lot of time. Because of which we may not adjust along with our office work. Nowadays 85% of the people uses ATMs to withdraw money.
In the coming time, remaining others will also use ATM. Because at present, there are many village areas where ATMs are not available. You know along the world Our country India is also growing more and development cannot be done till all the technology reaches every village. So the government is trying its best to ensure that ATM facility is available everywhere. And in coming years it will available in all the villages also.
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What are the parts of ATM?
There are two types of devices in an ATM that help users to use it easily.
- Input Device.
- Output Device.
Input device
Card Reader: Card Reader reads the ATM card data (account information) which is stored on the Magnetic Strip on the back side of your ATM Card and sends it to the server for Verification. It Allows withdrawal of cash based on account information and orders received from User Service.
Keypad: Keypad allows you to input details like PIN, how much money you want to withdraw and other features like cancel, clear, enter, etc. You can see it in All ATM.
Output device
Screen: It is used to display account related information (account holder name, available balance, etc.) and the tasks you need to perform to successfully complete your transaction.
Speaker: Now a days Speakers are available at most ATMs. It’s provided audio feedback when you perform your transaction.
Cash dispenser: It is one of the most important output devices of ATMs. It is used to withdraw cash.
Receipt printer: It provides a receipt related to your transaction which includes withdrawal amount, mini statement, balance amount, date, time, location etc.
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How does ATM work? How to Use ATM ?
To use the ATM, the bank where we open an account gives us a debit / credit card which has to be inserted inside. For the first time we need to generate the pin code. After successfully create the pin we need to insert the ATM card inside the ATM machine and type its ATM PIN.
After this, you have to type in all the money you want to withdraw from your account and in a few seconds the money comes in your hand. Now a days its also available to deposit money in ATM. This is a very easy way to withdraw and deposit money in ATM. ATM can be used 24/7.
Now you may understand ATMs two types, the first ATM gives you information only about withdrawing money and account balance; in the second ATM you can deposit money, make credit card payments and also get account information. ATMs are only used by bank customers for money transactions. Users can access their accounts with a special type of plastic card.
On the other hand, if you go to the bank, to get money there, or if you want to deposit the there you have to do paperwork by standing long long line. Which is just a waste of time, from the top the banks would not open 24/7.
In such a situation, if you ever go to withdraw money from an emergency, the bank can also be closed. But the ATM will always be open in your service. ATM card given by the bank such as debit / credit card which you use for ATM can also be used for online shopping / recharge. With this, you can do everything sitting at home even without going to the shop, this becomes another benefit of ATM card. You can also pay by ATM any types of bills like electricity bill, mobile phone bills etc.
ATM Full Form: ATM History
The full form of ATM is Automated Teller Machine. The ATM machine whose facility was first found in 1967 in London and was invented by John Shepherd-Barron
Types Of ATM :
Two types of cards are mainly used to withdraw money from ATMs: debit card and credit card. But debit cards are more used than credit cards.
ATM facilities are available 24 hours a day so that it can be used at any time.
Nowadays, whether you talk about the village or the city ATM, you will find it everywhere.
Use of ATM requires PIN, if you lose your ATM card, no money can be withdrawn from your ATM.
ATM works very fast, you get the same amount of money you want at the same time.
Nowadays, all banks offer ATM facility to their customers.
You can register a mobile number with your ATM so that you can get information about every transaction on your mobile number. Now it’ mandatory to register mobile no with your ATM.
The bank charges separately for ATM facility.
To keep your ATM safe its important to take caution While entering the PIN, check that no one is keeping an eye on you and also change your ATM PIN from time to time. Because a lot of frauds are tried to hack your pin to fraud your money.
You can also use ATM cards such as debit / credit cards for online shopping and recharge.
The real credit for the invention of the ATM goes to an American citizen named Luther George Simjian. In 1939, he had designed an ATM concept machine, which he named Bankmatic. Initially no one accepted the ATM and this invention was not successful. But later some changes were made due to which more people do not know the name of this inventor and people do not know that the original idea of the ATM was from them.
Conclusion:
So friends today, in this post ATM Full Form, we have learnt what is the full form of ATM. I also told you a lot about ATM with ATM Full Form in this post like when and who invented it, what are the benefits of ATM, how can one use ATM, Types of ATM etc. According to me, ATM has become a necessity and this is the reason that efforts are being made to bring it in the rural areas too. If we talk about cities, you will find ATMs everywhere in the city.
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ATM Full Form.
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