Saturday, May 21st, 2022

What is ATM Full Form? What is the full form of ATM?

What is ATM Full Form?

If you want to know what is ATM Full Form? Or what is the full form of ATM? So you have come to the right place, we are here, all in Hindi Will give you all the information. ATM Full FormAautomated Teller Machine’. The full form of ATM is in Hindi, Automated Teller Machine. ATM The dusra full form Any Time Money is also considered unofficially.

What is ATM?

as you go ATM Full Form Aautomated Teller Mis achine. ATM is an electronic machine which is used for financial transactions. ATM allows customers to withdraw cash from their respective bank accounts without visiting their bank branch. It is a convenient and hassle free platform where customers can self-service all their transactions like cash withdrawal, cash deposit, amount transfer without the help of any bank representative. Also read: BPO Full Form

On the transaction, a nominal fee is charged by the operator of that ATM. This fee can be avoided if we use the ATM of the respective bank in which we have our account. ATM is a very widely used option across the world and in some parts it is also called as Automated Bank Machine or.

The Bank Officer gives the customer an ATM card and a PIN Code to access the card (Pin Full Form is Personal Identification Number) provide. When this ATM card is inserted in any ATM machine, the machine asks to enter the PIN. The customer has to enter the PIN which should match the PIN stored in the chip of the card. Once the correct PIN is entered, the customer gets access to their bank account and can proceed with their transactions.

ATM Card is one of the Bank’s Alternate Delivery Channel services. Internet Banking or Net Banking, Mobile Banking, in other Alternate Delivery Channel credit card, gift card, pos machine etc. Also read: BSC Full Form

How many types of ATMs are there?

There are basically 2 types of ATMs.

  1. Onsite ATM: Those ATM machines which are inside or immediately near the branch of the bank, that type of ATM is called Onsite ATM. This type of ATM machine is run by the employees of the branch and the work of putting money in it is also done by them.
  2. OffSite ATM: The ATM machine which is not near any branch of that bank. Where people need more money to withdraw money from their bank account, in such areas, despite not having any branch of the bank, ATM machine is kept, it is called Offsite ATM. Often such offsite ATM machines are given to third-party vendors to run and take care of.
  • Automated Teller Machine (ATM full form) is an electronic banking outlet that allows people to complete transactions without visiting their bank branch.
  • Some ATMs are simple cash dispensers, from which you can only withdraw money, while some ATMs allow different types of transactions such as check deposit, fund transfer and bill payment.
  • ATMs first appeared in the mid to late 1960s and today their number has grown to over 3 million worldwide.
  • Today’s ATMs are technological marvels, with many ATMs capable of accepting deposits as well as many other banking services.
  • To keep ATM fees low, as often as possible, use an ATM machine operated by the same bank you have an account with.

History of ATM

The first machine that was operational was known as ‘Computer Loan Machine’. This equipment was supplied by the Japanese in the year 1966. After inserting the credit card in the machine, the machine used to disburse cash as loan basis.

The cash machine was first put into use in 1967 at a Barclay’s Bank branch in North London. This machine was inaugurated by actor Reg Varney. Later in the year 1970, after discussions with other banks, one bank’s card could be used for transactions at another bank’s ATM. Now ATM is a facility used all over the world which makes life of people very easy. There are more than 3 million ATMs in use around the world.

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