BankingFull Forms

ATM Full Form

ATM Full Form In Banking

What Is The Full Form of an ATM

This post deeply describes ATM’s full form & Meaning, Types of ATMs, Advantages of ATMs, How ATMs Works, How many types of ATMs, Functions, etc.

ATM Full Form

 ATM full form in banking is an Automated Teller Machine. This is an electromechanical machine that uses automated banking platforms that allow clients to conduct smooth transactions without requiring assistance from a teller or branch representative. ATMs should allow debit card or credit card holders to withdraw cash.

The ATM banking process is very easy because these machines are automatic, so no human cashier is needed. Usually, there are two types of ATMs: ones with basic functions like withdrawing cash and others with more advanced functions like depositing cash.

Types of ATM

Following are listed the types of ATMs:

  1. Onsite ATM: it is located within the premises of the bank branch.
  2. Off-site ATMs: those are located outside of bank premises. As a result, people will be able to access facilities even if the bank branch is far away. The bank uses this method to make its promotions easily accessible.

How ATM Works Inside

To start the operation of the ATM, plastic ATM cards have to be inserted inside the ATM machines. In some machines, you will have to leave your cards; Some machines allow cards to be changed. These ATM cards contain your account details and other security information in the magnetic strip. When you swap your ATM card to the machine, then the machine receives your account information and asks for your PIN number. After successful authentication, the machine provides the amount.

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Advantages of ATM

  • The first advantage is that ATMs are open 24×7.
  • We can withdraw money from an ATM, it doesn’t necessarily have to be our bank’s ATM.
  • ATM banking reduces the pressure on staff in the bank. 
  • It avoids unnecessary lines in the bank.
  • It is easy to manage cash flow in this process.
  • It saves time for people and banks.
  • ATMs are also helpful in checking the customer’s bank balance
  • After withdrawing the money, the machine gives you a receipt of your bank balance, which can be used as proof whenever needed.
  • ATM has many language options so we can set our safety language.

Functions OF ATM

  • Cash Deposit 
  • Cash Withdrawal  
  • Cash Transfer
  • You can check account details
  • Provide Mini statement
  • Regular payment of the bill
  • Account balance details
  • Recharge of prepaid mobile
  • You can change the pin code through an ATM machine

How many types of ATM

Following mentioned are the varieties of ATMs based on the labels:

  •  White label ATMs:  which are owned by companies or entities other than banks. Bank logos are not displayed on ATM machines. It was introduced by the TATA group first.
  • Brown label ATM:  These ATMs are operated by third parties other than banks.
  • Green label ATM:  Which is used for agricultural transaction purposes.
  • Yellow label ATM:  Which is used for E-commerce purposes 
  • Orange label ATM:  help for share transactions.
  • Pink label ATM:  They are designed specifically for females, so there are no long lines for their transactions.
  • Biometric ATM:  An ATM with biometric features such as a fingerprint scanner or an eye scanner can operate. 

FAQs About ATM 

What is the full form of ATM?

ATM full form is Automated Teller Machine.

ATM full form in Hindi?

The ATM ka full form in Hindi is ऑटोमेटेड टेलर मशीन.

What is the full form of ATM and PIN full form in atm?

ATM is an Automated Teller Machine. In ATMs, customers insert plastic ATM cards with magnetic strips to identify themselves. Each card has a unique number and some security information. The customer enters a Personal Identification Number (PIN) to authenticate.

ATM and its function?

The ATM is an electronic banking machine that enables people to carry out transactions without interacting with a bank representative. ATMs save the time of the customer and the bank.

What is ATM full form in computer?

ATM full form in computer is Automated Teller Machine.

What is ATM full-form biology?

ATM full form in Biology is Ataxia Telangiectasia Mutated.

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