Everyone knows the how to use the ATM machine about they don’t know the full form of ATM and this post helpful to them, in this, we have covered the ATM full form, the definition of ATM machine, types of ATM machine, history of ATM, parts of ATM machine, FAQs and conclusion.
ATM full form
The full form of ATM is an Automated teller machine, generally used for deposit cash and cash withdrawal from the machine available in every bank. This machine is available in cities for people for easy to take out the money from their account.
DEFINITION OF ATM MACHINE:
ATM is an electromechanical Machine It is used for making financial transition From bank account This machine is used for withdrawing money from a personal account, ATM make the banking process easily Because these machines are automatic There is no need of men power for a transition
TYPES OF ATM MACHINE:
There are two types of ATM machine.
- Cash withdrawal ATM machine
In this ATM machine you can withdraw cash From different accounts like saving account credit account Etc and as well as check the amount balance, in this ATM machine you can take out the mini statement of the account balance.
- Cash deposit ATM machine.
In this ATM machine, you can deposit the cash by giving the account details to the Machine, like account number and password. this machine has another option to pay credit bills by the transition of money from a savings account to a credit account. By using this machine you can change the password of the ATM card.
HISTORY OF AN ATM:
John shepherd-Barron (23 June 1925 -15 may 2010) is invented the ATM machine, he born in India. His father is a chief engineer. He got the idea of the ATM machine while bathing, after that he invented the ATM machine.
First ATM by Barclay bank in London in 1939. John shepherd-Barron wants to make the password in six-digit, but his wife said people get difficult to member the password after that john made a four-digit password, till now the four-digit password is using.
The world’s first gold dispensing located in ABU DHABI in UAE, from this gold machine 320 types of gold item can be taken out.
PARTS OF ATM
Card reader: this is the main input of the ATM machine. When the cardholder inserts the card then only the machine knows the details of the cardholder.
Keyboard: keyboard is used to select different options depending on the purpose of the user like selecting the account type entering the password to complete the transition etc.
Speaker: speaker provide audible feedback the user while selected option.
Display screen: it display the option to the user to select the required option to complete the transition.
Receipt printer: receipt printer gives the paper receipt after the completed the transition. It depends on the cardholder, he or she required or not.
HOW TRANSITION OF AN ATM WORKS:
Most common people use the atm machine for cash withdrawal. Firstly, Cardholder has to insert the card, secondly, select the language, request for transition, thirdly, select the types of account then enter the amount. Fourthly and most important enter a password, after that there will be a message on the screen (you required the mini statement click yes for required or else no), and after that cash will come out.
Why ATM full form is automated teller machine ?
Automated teller machine is also known as cash point but according to the word ATM, people remember as automated teller machines.
Who invented the ATM machine?
John shepherd-barron invented the ATM machine, the first ATM machine set in London in barclay bank in 1939
What things are required to withdrawal from the ATM machine?
1. Bank account
2. ATM card
3. password of ATM card
why now a day become necessary to have bank account?
Each and everything transfer to the digital, Government, and private jobs salaries are directly transferred into the bank account, it is safe and secure so everyone trying to use the bank account.
Conclusion of ATM Full Form:
I hope you people have understood the ATM full form and other concepts of ATM. Which is come under general knowledge everyone has to know. I things this information is helpful to you then, let us know in the comment section.