What is full form of ATM? | What is ATM?

What is full name of ATM?

The full form or full name of ATM is “Automated Teller Machine”.

If we analyze it then we will find.

• A - Automated
• T - Teller
• M - Machine

What is ATM?

ATM is an electronic telecommunications device that is used for financial transactions such as cash withdrawals, deposits, fund transfers and other bank related transactions at any time.  This makes the banking process very easy as these machines are automatic and there is no need to interact directly with the bank employees.

Users access their account through a special type of plastic card, encoded with the user's information on a magnetic strip above the card.  The Strip has an Identification Code which is transmitted by the Modem to the Central Computer of the bank. Users access the card to ATM to access their account and process their account transactions.

How does ATM work?

To start functioning of ATM, you need to insert plastic ATM cards inside the ATM machines.  In some machines you have to drop your cards, some machines allow to swap cards. As I have already told, these ATM cards contain your account details and other security information in the form of a magnetic strip.

When you drop / swap your card, the machine gets your account information and asks for your PIN number.  After successful Authentication, the machine allows Transaction.

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