What is the Full Form of ATM
Full Form of ATM
The full form of ATM is an Automated teller machine. ATM’s full form is Automated Teller Machine which is a self-service banking outlet. You can withdraw money your money, check your balance, or even transfer funds. Different banks provide their ATM services by installing cash machines in different parts of the country. You can click here to know more about ATM on Wiki.
Inventors of ATM Machine
The ATM has been in a group of 3 people DO Duc Cuong, John Shepherd, and Donald Witzel. This is one of the important inventions in the banking domain which has enabled transaction speed in terms of time. Traditionally, it was a very time-consuming activity to get your money.
Definition of ATM: Full Form of ATM
An automated teller machine (ATM) or cash machine is an electronic telecommunications device that privileges customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries, or account information inquiries, at any time and without the need for direct interaction with bank staff.
Uses of ATM Machines /ATM Card
Earlier we discussed the full form of ATM along with the brief history and inventors of ATM Machine. We are going to cover the uses of ATMs in banking domains.
- The very first and prior use of an ATM is to withdraw money from the ATM Machine.
- ATM Machine is also used for ATM Pin generation for the user who got the card for the first time.
- It is also used to deposit cash these days into the bank account of self and others.
- ATM cards are used for online digital transactions for shopping online/offline.
Full Form of ATM: ATM Security
Various ways are used to secure ATMs these days. Above section, we have covered the full form of ATM, usages, inventions, and definitions. In this section, we are going to cover the security protocols of ATMs.
- The Machine is physically very strong i.e. it is the very string in structure.
- The machine area is fully covered with a CCTV camera which has its system of monitoring the activities inside and outside the ATM Machines.
- The software which is being used in ATMs is very highly secure and it enriches the security principles of the machines.
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