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ATM Full Form in Banking 2020

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ATM Full Form in Banking

What is the full form of ATM 


Here, you will find answers to the questions related to ATM: what is the full form of ATM, what is ATM, what does ATM mean, how does ATM work and what does ATM do.

ATM: Automatic Teller Machine

The full form of ATM is Automated Teller Machine.  ATM is an electro-mechanical machine used to conduct financial transactions from a bank account.  These machines are used to withdraw money from personal bank accounts.

This makes the banking process much easier as these machines are automated and there is no need for a human cashier for transactions.  ATM machines can be of two types;  One with basic functions where you can withdraw cash and another with more advanced functions where you can deposit cash.

ATM Parts

Additional Information About ATM Machine

ATM is a user-friendly machine.  It introduces various input and output devices to enable people to withdraw or deposit money easily.  The basic input and output devices of ATM are given below:

How does ATM work? Atm Full Form In English

To start the ATM functioning, you will need to insert plastic ATM cards inside the ATM machines.  In some machines you have to drop your cards, some machines allow cards to be swapped.

These ATM cards contain your account details and other security information in the form of a magnetic stripe.  When you drop/swap your card, the machine gets your account information and asks for your PIN number.

After successful authentication, the machine will allow financial transactions.

What does ATM do? Atm Full Form Any Time Money

Nowadays, ATMs have many functionalities along with basic usage of cash disbursements.  some of them are:


  • Cash and Check Deposit
  • Fund transfer
  • Cash Withdrawal and Balance Inquiry
  • PIN change and mini statement
  • Bill payment and mobile recharge etc.

The first ATMs were used by Chemical Bank in New York (USA) in 1969 to withdraw cash for customers.

input device: Atm Full Form In Chemistry

Card reader: This input device reads the card's data which is stored in a magnetic stripe on the backside of the ATM card.  When the card is swiped or inserted in a given location, the card reader captures the account details and sends it to the server.  Allows withdrawing cash based on account details and orders received from user servers.

Keypad: It helps the user to provide the information asked by the machine such as personal identification number, amount of cash, receipt required or not.  The PIN number is sent to the server in encrypted form.

Output Device: Atm Full Meaning

Speaker: It is provided in the ATM when an audio response is produced when a key is pressed.

Display screen: It displays information related to the transaction on the screen.  It shows the steps of cash withdrawal one by one in sequence.  This can be a CRT screen or an LCD screen.

Receipt Printer: It provides you with a receipt with the details of the transaction printed on it.  It tells you the date and time of the transaction, withdrawal amount, balance etc.

World's highest ATM: It is set up primarily for Army personnel in Nathu-La.  It is 14,300 feet above sea level and is operated by Union Bank of India.

First ATM in India: Established in 1987 by HSBC (Hong Kong and Shanghai Banking Corporation).

Cash dispenser: It is the main output device of the ATM as it disputes the cache.  The high precision sensors provided at the ATM allow the cash dispenser to extract the correct amount of cash required by the user.


Important / interesting facts about ATM



The inventor of ATM: John Shepherd Barone.


ATM Pin Number: John Shepherd Barone thought of having a 6-digit PIN number for an ATM, but it was not easy for his wife to remember a 6-digit PIN so he decided to produce a 4-digit ATP PIN number.

World's first floating ATM: State Bank of India (Kerala). Full Form Of Atm

First ATM in the World: It was established on 27 June 1967 at Barclays Bank, London.

First-person to use ATM: Famous comedy actor Reg Varney was the first person to withdraw cash from ATM.

Biometric ATM: Biometric ATM is used in Brazil.  As the name suggests, the user is required to scan their fingers at these ATMs before withdrawing money.

ATM without an account: In Romania, which is a European country, anyone can withdraw money from an ATM without a bank account.

Note: PIN is a 4 digit security number provided by the bank with an ATM card.  The PIN number is variable, you can change it as per your convenience. 


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