ATM Full Form? Friends, today we will know the full form of ATM in this post. All of us have heard the name of the ATM at some time or the other, but we do not know what is the full form of the ATM, so I am writing this post. In this post, you will be told the full form of the ATM. Friends, along with the full form of ATM, we will know more about ATM because knowing only the full form of ATM will not be enough. So friends, let’s start.
What is ATM?
ATM is a machine that has made the lives of all of us easy. Due to having an ATM, we are saved from wasting a lot of time, otherwise, we have to go to the bank and take the paperwork to withdraw money, which is a waste of time. Nowadays 80% of people use ATMs to withdraw money, in the coming time, others will also use ATMs because at present, how many areas of the village do not have ATM facilities.
Our country is 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.
To use the ATM, the bank gives us a debit/credit card which has to be inserted inside the ATM 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 into your hand. This is a very easy way to withdraw money, ATM is that it can be used 24/7.
On the other hand, if you go to the bank, to get the money there, you have to do paperwork, 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, then the bank can also be closed, but the ATM will always be open in your service.
ATM cards given by the bank such as debit/credit card which you use for ATM can also be used for online shopping/recharge.
ATM Full Form
The full form of ATM is Automated Teller Machine. The ATM is a type of machine whose facility was first found in 1967 in London and was invented by John Shepherd-Barron. With the help of an ATM, you can withdraw money without going to the bank.
ATMs are also of 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.
ATM is used only by bank customers for money transactions. Users can access their accounts with a special type of plastic card.
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 ATM service of the city, you will find it everywhere.
- A PIN is required to use ATM, if your ATM card is also lost, no money can be withdrawn.
- ATM works very fast, you get the same amount of money you want at the same time.
- Nowadays, all banks offer ATM facilities 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.
- The bank charges separately for the ATM facility.
- Go to the ATM that has the card, otherwise, a separate charge is taken.
- While entering the PIN, check that no one is keeping an eye on you and also change your ATM PIN from time to time.
- 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.
So friends today, in this post, we have come to know 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 advantages of ATM, how can one use ATM, etc.
ATM has become a necessity and this is the reason that efforts are being made to bring it to the rural areas as well. If we talk about cities, you will find ATMs everywhere in the city. If you liked this post of our ATM Full Form, then do share.