Are you confused about What is the full form of ATM? If YES, Then, please, check out this post. Here, in this post, We are sharing all information about ATM such as what is the full form of ATM, ATM full form in Hindi, what is the meaning of ATM, what does ATM stand for, how ATM works and what does ATM, and so and so…
So, let us move the detailed information about What is ATM?
What is the full form of ATM?
Full Form of ATM is Automated Teller Machine
The short form ATM stands for Automated Teller Machine.
ATM full form in Hindi: “स्वयंचलित मुद्रा वितरण यंत्र”
Basically, Automated Teller Machine is an electro-mechanical machine which primarily used for making a financial transaction from any bank account instantly.
Automated Teller Machines are mainly used to withdraw funds from bank accounts. At an ATM, one can also transfer funds from one account to another account.
This helps the banking process to work so faster than it reduces banking works up to half of its load. These machines are automatic and they do not require any kind of human interference as the cashier for making transactions.
How ATM – Automated Teller Machine Works?
There are two types of AMT Machine. In addition to withdrawing money, ATM also enables peoples to deposit their money without going into the Bank, directly from the ATM machine.
Basic Parts of ATM
There are two basic parts of ATM through which ATM enables the peoples to withdraw and deposit their money. These basic part of ATM includes input and output devices.
All the basic input and output devices of an ATM are given below:
Input Devices of ATM
- Card Reader
- This input device of AMT reads cards data from the magnetic strip, present on the back side of ATM card.
- When ATM card is swiped (inserted) into space, the card reader reads all the details of account and passes that information to the server.
- On the basis of collected information, the bank server allows the customers to dispense the cash.
- Basically, it is an essential part of the ATM.
- It helps the customers to provide all the information, asked by the ATM machine.
- It helps the customers to provide PIN (personal identification number), Amount Withdrawl, receipt required or not, etc.
Output Devices of ATM
- Helps the ATM to create audio feedback when any key is pressed by the dispenser.
- Display Screen
- This part of ATM is the most important part of ATM.
- It displays the transaction related information on the screen.
- It also displays steps of cash withdrawal in the prompted sequence.
- It may be a CRT screen or an LCD screen.
- Receipt Printer
- It helps the printer to print essential details on a paper, like a bill prompted by the server.
- It tells you the date and time of the transaction, the withdrawal amount, new balance, etc.
- Cash Dispenser
- It is the main and the most important output device of the ATM.
- It dispenses the cash that much amount you want to withdraw from the account.
- The high precision sensors provided in the ATM allows the cash dispenser to dispense the correct amount of cash as required by the user.
Do You Know How ATM works?
When you visit to use the ATM card at any ATM machine, please follow the mentioned-below steps to withdraw your cash successfully.
- In the very first step, insert your card into space, available there on the ATM Machine.
- The machine may allow you to swipe your card or it may require to drop you card for a little time into the machine.
- Once, you put your card into the swipe, the detector will read your bank account details through the magnetic strip, available on the back side of your ATM card.
- Then after, the ATM will be asked you for human verification. Here, you need to provide your PIN and have to follow some steps to withdraw cash from your account.
- Once your details will be verified, the cash dispenser will dispense the exact amount, which you want to withdraw from your bank account.
- Hence your transaction is over!!
What ATM does
Through an ATM, you can complete the following type of transaction from your bank account:
- Fund transfer
- Cash and cheque deposit
- PIN change and mini statement
- Cash withdrawal and balance inquiry
- Bill payments and mobile recharge etc.
Interesting Facts about ATM
Make sure to check out some important and interesting facts about ATM:
|Inventor of ATM||John Shepherd Barron|
|World’s first floating ATM||State Bank of India (Kerala)|
|First ATM in the World||Installed by the Barclays Bank of London on 27 June 1967|
|First ATM in India
||Installed by HSBC (Hongkong and Shanghai Banking Corporation) in 1987|
|First Person to use ATM||Reg Varney (famous comedy actor)|
|First Biometric ATM||Biometric ATM is used in Brazil|
|World’s Highest ATM
||Installed in Nathu-La mainly for the army personals. Its height is 14,300 feet above sea level. It is operated by Union Bank of India.|
|ATM Pin Number
||A 4 Digit Secret Number (John Shepherd Barron thought to keep a 6 digits pin number for the ATM, but it was not easy for his wife to remember a 6 digits pin so he decided to prepare a 4 digits ATP pin number.)|
That was all about the Full Form Of ATM, Meaning, Parts How Its works etc. We hope you guys like it but if you facing any problem regarding this post, then please comment for us, we will solve your problem as soon as possible, thanks for visiting our site.