What is the full form of ATM? Full name of ATM, what is ATM called. What is the use of ATM? Kind of question keeps on searching on Google. But the answers to all these questions are not found in one place. Apart from these, there are many other questions like when and who invented ATM, the use of ATM, how to withdraw money from ATM, etc. Many people think that the full form of ATM is any Time Money. But the answer is not correct. But it is certainly true that ATMs are known by many names. Known as ABM (Automatic Banking Machine) in Canada. In some countries, words like Cash Point, Mini Bank, and Cash Machine are used. Let’s start.
ATM full form: What is ATM
The full form of an ATM is an Automatic teller machine which is called automatic money dispensing device. That is, the machine or the machine which is used to withdraw money is called ATM.
It works automatically, teller means that it automatically counts money and machine means machine. But it is not that ATM is known by this name everywhere. In many countries, it is called Cash Point and in many countries, it is also called Hole in the Wall.
Hole in the wall means to have a hole in the wall because you must have seen that by making a small hole in the wall, the screen of the ATM machine comes out from where money can be withdrawn. What happens if an ATM is installed by making a hole in the wall so that the machine gets some safety?
To use ATM, we must have an ATM card. This ATM card is provided to the customer by his bank. For example, if you want to withdraw money from ATM, then you have to follow the necessary instruction by inserting an ATM card. ATM card is a small card that is almost the size of your Aadhar card and has one thing attached to it.
Account of ATM: All over the world, where ATMs are installed, an organization has been jointly formed for them, whose name is ATMIA, whose full form is ATM Industry Association. This association is headquartered in the United States of America and was established in the year 1997.
The main reason for establishing this institution is that wherever there is an ATM in the whole world, if there is a problem or if there is any defect, then after reviewing and seeing it, this organization develops the account of ATMs installed all over the world. Keeps the joke.
According to ATMIA, at present, there are more than 35 lakh ATMs in the whole world. You might find this number a little less but there is a total of 195 countries in the world and 36 lakh ATMs in 195 countries becomes a very big quantity and their number will increase in the coming time. These ATMs are being developed with the passage of time so that separate machines are being installed to print the transactions on depositing as well as withdrawing money, so in the coming times, the banking system will be largely paperless. Will be done.
First ATM Inventor: History of ATM
The inventor of the ATM is Luther George Simmel. Due to whose efforts the world’s first ATM was installed in Citibank New York in 1961, at that time the ATM was known as Banks Graph, but at that time customers considered it more easy and safe to transact by filling the form or going directly to the bank, due to which ATM The 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. But this confusion was dispelled when an ATM was installed in Japan in the year 1966, due to which the banks benefited a lot.
Because by installing ATM, the employees of the bank got free time which they were able to 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 in Japan and from there gradually this service started appealing to the people of other countries as well. Thus, almost from the very beginning, the development of ATMs in developed countries was almost uniform.
Use of ATM
ATMs are one of the best and most used facilities in our country. If you do not know much about ATM then this is not good for you. Let us know about the important uses of ATM-
The main purpose of ATM is to provide a facility for people to withdraw money from their bank account. If you have an ATM card issued by your bank. So you can easily withdraw cash from your bank’s ATM according to the amount and cash limit present in your bank. That too without going to the bank.
Earlier we had to go to the bank to deposit money in the bank account. But now through modern ATMs, money can be easily deposited in your bank account from anywhere. For this, you have to take the cash to the nearest ATM of your bank and deposit it in the bank account using your debit card.
Many times we come across such a situation. When we have to check the balance present in our bank account. For this one had to go to the bank first. But at present, there are many balance inquiry options available including online facilities. One such option is ATM. If you do not have access to net banking etc. So you can do balance inquiry through ATM.
Receiving statement of transaction:
One of the main uses of ATM is the activities taking place in the bank account and also the transactions are done using it. Through ATM you can withdraw the free statements of your last few transactions using your debit card. That is, there will be no need to go to the bank to check the bank balance. For this, you must have an ATM card.
ATM Full Form: Conclusion
For us, ATM is a beneficial machine that is used by crores of people every day to withdraw money from their bank account, check their bank balance, transfer money, etc. In such a situation, it is important that you get the necessary information about the ATM.
In this article I have tried to give you all the important information about ATM like what is ATM, the Full Form of an ATM, Who invented the ATM, and when to use an ATM. e.t.c.
frequently Asked question
Change mobile number in your bank account
You can also change the mobile number entered into your bank account with the help of an ATM machine. For this, you have to first select the ‘Registration’ option in the ATM machine and enter your ATM PIN. After this, the option of ‘Update your mobile number has to be selected. After this, you have to confirm by entering your old mobile number, and after that, you have to confirm by entering your new mobile number.
link aadhar with bank account
You can also link your Aadhaar number with your bank account with the help of ATM machine. After the Aadhaar is linked, you can also withdraw money by visiting the business correspondents of banks or CSC centers. All you need to do is carry your Aadhar card and authenticate your fingerprints.
What are the benefits of ATM?
Through ATM machines we can do our daily financial transactions. Apart from this, information related to cash transfers, deposits,s and bank details can also be obtained through this.
What is the full form of ATM?
The full form of an ATM is Automated Teller Machine ie “Automatic Currency Calculator” ATM is used for daily financial transactions.