What is the Full Form of ATM?

Full Form of ATM is Automated Teller Machine, which is actually a special computer which makes it convenient to manage the money of the bank account holder. It allows an individual to check account balances, withdraw or deposit funds, print details of account activities or transactions, and even purchase tickets.

Almost every person using an ATM card, wants to know what is the full form of ATM or what is the full form of ATM machine. The full form of ATM is Automated Teller Machine.

In today's time almost every person withdraws money from ATM and ATM has become a common thing. With the help of ATM card, you can withdraw money from your bank anywhere as per your requirement. With the advent of ATMs, the increasing rush to withdraw money in banks has reduced. 

Now the account holder does not need to fill any form to withdraw money. With the help of your ATM card, you can withdraw money from anywhere. Almost everyone uses ATM, but no one knows the full form of ATM and History of ATM. Today, through this article, we are going to tell the history of ATM and full form of ATM, so you must read this article of ours till the end.

What is an ATM Machine?

ATM machine works like an electronic device. This machine can only be used by the account holder or ATM card holder. Using ATM card and ATM machine, the consumer can withdraw his money from any ATM card machine or any place. 

The complete details of the card holder are recorded on the back of the ATM card and it is a kind of special plastic card, in which all the information of the user is fitted in a magnetic strip. The ATM card holder only has to fit his card inside the ATM machine to withdraw money. The 4 digit ATM PIN given by the bank has to be entered after inserting the ATM card. After doing this, the user can withdraw his money very easily.

Where was the first ATM machine installed in the world? 

The world's first ATM machine was installed on 27 June 1967 in London. This machine was installed by Barclays Bank at its Enfield Town branch.

Who invented the ATM? 

Born on 23 June 1925 in Shillong, Meghalaya state, India, John Adrian Shepherd-Barron did it during his stay in Scotland.

Where and when was the first ATM installed in India? 

The first ATM in India was installed by HSBC Bank in 1987 in Mumbai, Maharashtra.

History of ATM:

Luther George Simjian invented the bancograph machine in the year 1960. With the help of this machine, customers could deposit money. The first ATM was installed by Barclays Bank in June 1967, in Street Enfield, London. John Shepherd-Barron invented the ATM.

In the US, engineer Donald Wetzel pioneered the installation of ATMs. In 1969, the first ATM in America was installed at the Chemical Bank branch in Rockville Center, New York. Whose quote was, "On September 2, our banks will open at 9 am and will never close again."

In the year 1970, James Goodfellow introduced a PIN (Personal Identification Number). With the help of this PIN, the identity of the customer can be verified.

By 1984, the number of ATMs installed worldwide was 1 lakh. In 2018, 30 lakh ATMs have been installed all over the world, and in the year 2021 this number has increased to 40 lakh.

The first ATM in the country was installed in the year 1987 in the city of Mumbai, by the Hong Kong and Shanghai Banking Corporation.

Types of ATM in India?

There are many types of ATMs,

1) Onsite ATM

Such ATMs, which are found in the bank area, are called Onsite ATMs.

2) Offsite ATM

Those ATMs which are located at places other than the bank area are called Offsite ATMs.

 

3) White Label ATM

Those ATMs which are set up and owned by a non-banking financial institution are called White Label ATMs.

4) Yellow Label ATM

These types of ATMs are installed to provide e-commerce facility.

5) Brown Label ATM

These types of ATMs are not installed by the bank, but are put on lease to provide service to the customer.

6) Orange ATM

Orange ATM is used for the transaction of shares.

7) Pink Label ATM

These ATMs are only for women.

8) Green Label ATM

This type of ATM is used to do transactions related to agriculture.

How does ATM work? | How ATM Works?

To withdraw money from ATM, a plastic card is given to the customer by the bank, which is called debit card or credit card. Whenever you insert the card into the ATM machine, it asks for a verification PIN from you. After entering this PIN, it gets verified, it is your account, and you are able to withdraw money.

Some charges are also applied by banks for using ATM.

Working Principle of ATM | Working Principle of Automated Teller Machine:

Automated teller machines have only one data terminal with two input and four output devices. These devices are interfaced with the processor. The processor is the heart of the ATM. All ATMs operating around the world are based on a central database system. 

The ATM has to connect and communicate with the host processor (server). The host processor communicates with the Internet Service Provider (ISP). It is the gateway through all ATM networks available to the cardholder.

When a cardholder wants to do an ATM transaction, the user provides the required information through the card reader and keypad. The ATM gives this information to the host processor. The Host Processor enters the transaction request at the Cardholder Bank. 

If the Cardholder requests cash, the Host Processor takes cash from the Cardholder's account. Once the funds are transferred from the customer account to the host processor bank account, the processor sends the approval code to the ATM and the cash comes out from the authorized machine. 

This is the way to get the amount at ATM. The ATM network is completely based on a centralized database environment. This will make life easier and cash safe.

Main functions of ATM

1) You can withdraw money from ATM, and also get information about your account balance.

2) With the help of this machine, you can also get your mobile number registered, and you can also get message alert.

3) Using an ATM machine, you can change the PIN code, and you can also get a new PIN code.

4) With the help of this you can transfer money to any other bank account.

5) With the help of ATM card, you can do online transactions, and you can also pay bills.

ATM full form in other fields

ATM Full Form in Computer: Asynchronous Transfer Mode

ATM Full Form in Chemistry: In chemistry, the Atmospheric Pressure Unit is denoted by atm.

ATM Full Form in Biology: In the field of Biology

The full name of ATM is Ataxia Telangiectasia Mutated Gene.

ATM Full Form in Physiotherapy: The full name of ATM is Active Therapeutic Motion.

The full form of ATM in the field of teaching is Association of Teachers of Mathematics. It is an NGO (Non-Profit Organization).

The full name of ATM in the field of Aviation is Air Traffic Management.

The Automated Teller Machine mainly consists of two input devices and four output devices;

input device:

card reader

keypad

Output device:

Speaker

display screen

receipt printer

cash depositor

Input device:

1) Card Reader:

A card reader is an input device that reads data from a card. The card reader is part of the identification of your unique account number and magnetic tape is used on the back side of the ATM card for connection to the card reader. The card is swiped or pressed on the card reader which captures your account information i.e. the data from the card is passed on to the host processor (server). The host processor thus uses this data to obtain information from the cardholders.

2) Keypad:

The card is identified after the machine asks you for other details like your identification number, withdrawal, and your balance enquiry. There are separate laws to protect the PIN code when sending it to the host processor. The PIN is mostly sent in encrypted form. The keyboard has 48 keys and is the interface for the processor.

Output device:

1) Speakers:

The speaker provides audio feedback when a particular key is pressed.

2) Display Screen:

The display screen displays transaction information. Each step of withdrawal is shown by the display screen. CRT screen or LCD screen is used by most of the ATMs.

3) Receipt Printer:

The receipt printer prints out all the details of your withdrawal, the date and time, and records the amount of withdrawal and also shows your account balance in the receipt.

4) Cash Machine:

Cash dispenser is the heart of ATM. It is a central system of ATMs from where required funds are obtained. From this part, the user gets his money. The cash dispenser has to count each bill and give the required amount. If money is folded in some cases, it will be moved to another section and become the reject bit. All these functions are performed by high precision sensors. With the help of RTC device, complete record of each transaction is kept by the ATM.

What is ATM Networking?

Internet Service Provider (ISP) also plays an important role in ATM. It provides communication between the ATM and the host processor. When the transaction is done, the details are inputted by the cardholder. This information is given by the ATM to the host processor. The host processor checks these details with the authorized bank. If the details match, the host processor sends the approval code to the machine so that the cash can be transferred.

What are the types of ATMs?

ATM are of 2 Kinds Of Machines:

Most host processors can support leased-line or dial-up machines

leased line machines

dial-up machines

1) Leased Line ATM Machines:

Leased Line ATM Machines:

Leased line machines connect directly to the host processor via a four-wire point to indicate a dedicated telephone line. These types of machines are preferred everywhere. The operating cost of these machines is very high.

2) Dial-Up ATM Machines:

Dial-up ATM Machines:

Dial-up ATMs connect to the host processor via a normal phone line using a modem. These require a simple connection and have a very low initial installation cost. The operating cost of these machines is less as compared to leased line machines.

How is ATM security?

The ATM card is secured with a PIN which is kept secret. There is no way to get the PIN from your card. It is encrypted by strong software like Triple Data Encryption Solander.

How to withdraw money from ATM?

Step 1: Insert ATM Card

There are mainly two types of cards number one is debit card and number two is credit card. Debit cards are mostly used in ATMs. So, in this post, I will talk about Debit Card.

So insert your ATM card into the ATM machine (you may see a green slot or any kind of slot). You can see the picture, this is how you have to insert your ATM card in the ATM machine.

Step 2: Select language

Select your language which is appearing on the screen.

Step 3: Enter the 4-digit ATM PIN

In this section you have to take your money from the bottom slot of the machine. Take your money before 30 seconds.

Step 8: Take a Printed Receipt

Whether or not you will be asked to take a printed receipt after receiving your money. Do whatever you want

Step 9: Another Transaction

If you want to do any other transaction then select that option.

Step 10: Ending Your Session

After completing your entire transaction, press the CROSS or CANCEL button before exiting the ATM machine room.

 Don't forget to take your ATM card.

What are the benefits of ATM?

1. You can withdraw your money anytime, 24 hours a day.
2. Due to ATMs, the work load of bank employees has reduced to a great extent.
3. ATMs provide new currency notes to their customers.
4. ATM service is very beneficial for the travelers, through they can withdraw their money through 

    ATM anywhere in any situation.
5. ATM provides error free service.
6. With the help of ATM, you can also deposit your money directly into your account.
7. With the help of ATM, you can also do online shopping and prepaid mobile recharge.
8. You can use ATM to make any kind of payment.
9. ATM has become a great option for account holders.

Features of ATM

Features of Automated Teller Machine:

1. Transfer funds between linked bank accounts

2. Provides account balance information

3. Prints recent transactions list

4. your pin changes

5. deposit your cash

6. prepaid mobile recharge

7. bill payment

8. cash withdrawal

9. Provides many facilities in your foreign language.

Now you have got an idea about how ATM works and if you have any query on this topic then you can leave a comment below.

Frequently Asked Questions on ATMs

1. What is Brown Label ATM?

Brown Label ATMs are those automated teller machines where the hardware and rental of the ATM machine is owned by a service provider, but cash management and connectivity to the banking network is provided by a sponsor bank whose brand is used for the ATM. .

2. What is Mini ATM?

Micro ATM is a smaller version of ATM with modified point of sale terminals. This terminal can connect to the banking network through GPRS for carrying out banking transactions.

3. What is Micro ATM?

Micro ATMs are card swipe machines through which banks can connect to their core banking system remotely. This machine is linked to a fingerprint scanner. In other words, micro ATMs are handheld point of sale terminals used to dispense cash at remote locations where bank branches cannot reach. Micro ATMs are similar to Point of Sale (POS) terminals and have a A doorstep mobile banking system cum mobile ATM device.

4. What is the full form of ATM and PIN?

The full form of ATM is Automated Teller Machine. At ATMs, the customer is identified by inserting a plastic ATM card with a magnetic tape that contains a unique card number and some security information. Authentication is provided by the customer by entering a Personal Identification Number (PIN).

5. What does ATM stand for in text?

The use of ATM in texting depends on the context. Some examples are:

At the moment: In general, many people use ATM to just say 'at the moment'.

According to me: I think this is another use of the word which is very common in texting.

what did you learn today

I hope you must have liked my article, what is the full form of ATM. It has always been my endeavor to provide complete information about ATM Full Form to the readers so that they do not have to search any other sites or internet in the context of that article.

This will also save their time and they will also get all the information in one place. If you have any doubts about this article or you want that there should be some improvement in it, then you can write low comments for this.

If you liked this post what is the full form of ATM or got to learn something, then please share this post on social networks such as Facebook, Twitter and other social media sites.