ATM Full Form
What is ATM?
ATM is one such machine which has made life easier for all of us. Due to having an ATM, a lot of our time is saved, otherwise we have to go to the bank to withdraw money and do paperwork, which is a waste of time.
Nowadays 80% of the people use ATM only to withdraw money, in the coming time other people will also use ATM because in how many areas of the village there is no ATM facility.
Our country is moving towards development and development cannot happen until all technology reaches every village, so the government is trying its best to make ATM facilities available everywhere.
To use the ATM, the bank gives us a debit/credit card which has to be inserted inside the ATM and type our ATM PIN. ATM Full Form
After this, you have to type in the ATM the amount of money you want to withdraw from your account and within a few seconds the money comes in your hand.
This is a very easy way to withdraw money. The best thing about ATM is that it can be used 24/7. On the other hand, if you go to the bank to withdraw money, paperwork has to be done there, which is just a waste of time, banks are not open 24/7. ATM Full Form
In such a situation, if you ever go to withdraw money in an emergency situation, then the bank can also be closed but ATM will always be open in your service.
The ATM card given by the bank such as the debit / credit card that you use for ATM can also be used for online shopping / recharge. With this, you can do everything sitting at home even without going to the shop, this becomes another advantage of ATM card.
ATM Full Form
The full form of ATM is Automated Teller Machine. ATM is a type of machine whose facility was first found in 1967 in London and it was invented by John Shepherd-Barron. With the help of ATM, you can withdraw money even without going to the bank. ATM Full Form
There are also two types of ATMs, the first ATM only gives you information about withdrawing money and account balance, in the second ATM you can deposit money, make credit card payments and also get account information. ATMs are used only by bank customers for money transactions. . Users can access their account with a special type of plastic card. ATM Full Form
What are the three advantages of ATM?
There are mainly two types of cards used to withdraw money from ATMs, Debit card and Credit card. But debit cards are used more than credit cards.
- ATM facility is available 24 hours a day so that it can be used at any time in an instant.
- Whether you talk about the village or the service of the city ATM, nowadays you will get everywhere.
- PIN is required to use the ATM, even if your ATM card is lost, then no one can withdraw money.
- ATM works very fast, you get as much money as you want at the same place at the same time.
- Nowadays all banks provide ATM facility to their customers. ATM Full Form
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- You can register the mobile number with your ATM so that you can get the information of every transaction on your mobile number.
- Bank charges separately for ATM facility. ATM Full Form
- Go to the same ATM whose card is there, otherwise a separate charge is taken.
- While entering the PIN, make sure that no one is tracking you and also change your ATM PIN from time to time.
- You can also use ATM cards such as debit / credit cards for online shopping and recharge.
Who invented ATM?
The real credit for the invention of ATM goes to an American citizen named Luther George Simjian. In 1939, he had prepared a machine with the concept of ATM, which he named Bankmatic. Initially no one accepted ATM and this invention was not successful but later some changes were made in it due to which not many people know the name of this inventor and people do not know that the real idea of ATM was from him.
Why ATM is used?
To use the ATM, the bank gives us a debit/credit card which has to be inserted inside the ATM and type our ATM PIN.
After this, you have to type in the ATM the amount of money you want to withdraw from your account and within a few seconds the money comes in your hand. ATM Full Form
This is a very easy way to withdraw money. The best thing about ATM is that it can be used 24/7. On the other hand, if you go to the bank to withdraw money, paperwork has to be done there, which is just a waste of time, banks are not open 24/7. ATM Full Form
In such a situation, if you ever go to withdraw money in an emergency situation, then the bank can also be closed but ATM will always be open in your service. ATM Full Form
The ATM card given by the bank such as the debit / credit card that you use for ATM can also be used for online shopping / recharge. With this, you can do everything sitting at home even without going to the shop, this becomes another advantage of ATM card.
What are the types of ATM?
Now let us know about the types of ATMs.
Online ATM: This type of ATM is connected to the bank’s database 24 hours a day. You cannot withdraw more than the balance in your account.
Offline ATM: It is not linked to the database of the bank. Even if you do not have the required amount in your account, you will be able to withdraw it, for which the bank may impose some penalty.
On Site ATM : The ATM inside the bank premises is known as Onsite ATM. ATM Full Form
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Off Site ATM : ATMs located at various locations inside the bank premises are known as Offsite ATMs.
White Label ATM: ATMs set up by Non-Banking Financial Companies are known as White Label ATMs.
Yellow Label ATM: Yellow Label ATMs are provided for e-commerce reasons. ATM Full Form
Brown Label ATM: The hardware of this type of ATM and the lease of the ATM machine is owned by a service provider, but the cash management and connectivity for the banking network is provided by a bank.
Orange Label ATM: These ATMs are provided for Share Transaction.
Pink Label ATM: These ATMs are provided for women only.
Green Label ATM: These ATMs are provided for agricultural transactions.
How can use ATM card?
Since this facility has been started to solve the banking problems of the people, then the process of using it has been made very easy. So that more and more people can take advantage of it. The procedure to use it is being described below, ATM Full Form
First, find the nearest ATM to your residence. If there is an ATM of the bank whose card is there, then it is better. By the way, at present, money can be withdrawn from any ATM with the help of any card.
Now put your ATM card in the machine. The green light usually stays on at the place where the ATM has to be inserted. Insert the ATM directly into the machine or else the machine will not be able to read.
After reading the ATM, the machine will give you the option of language selection. English and Hindi are mainly used in ATMs. Choose one of these two languages as per your convenience.
Once the language is selected, the ATM asks for the PIN for further processing. This PIN is the same PIN that is given to you by the bank with or in reference to the ATM. ATM Full Form
After entering the PIN, a new page will open in front of you on the screen. Now you have to select your account type. If your account is a Savings Bank Account, then select Savings Account and if your account is a Current Account, then click on Current Account.
After selecting the account type, you have to enter the amount you want to withdraw. Keep in mind that different banks and different accounts have different withdrawal limits. ATM Full Form
Once you have entered the amount and OK, your entered amount will come out of the machine. Keep in mind that more than the amount you have entered should be deposited in your account. ATM Full Form
In this way your first transaction is completed, if you want to withdraw money again, the option of that is also given there.