Full Form of ATM

‘A’- Automated

‘T’- Teller

‘M’- Machine

Full Form of ATM in English and Hindi
Short Name	In English	In Hindi
ATM	Asynchronous Transfer Mode	अतुल्यकालिक अंतरण विधा
	Automated Teller Machine	स्वचालित टेलर मशीन
	Air Traffic Management	एयर ट्रैफिक मैनेजमेंट
	Automatic Teller Machine	स्वचालित टेलर मशीन
	Adobe Type Manager	एडोब प्रकार प्रबंधक
	All The Money	सब पैसे

Some brief Introduction About ATM

• Well guys and girls the full form of ATM is Automated Teller Machine.
• In fact ATM is an electromechanical machine and this very machine is in fact used for making financial transactions from a bank account.
• You have experienced more about this very machine in your daily life.
• As everyone knows very well that theses ATM machines are actually used to withdraw money from personal bank account, ATM machines are having quite a few amazing features in the nowadays world.

ATM and its Uses

In this section I am going to tell you about this very term ATM, acronym used for Automated Teller Machine. Here you all will know about various uses of ATM in our daily life. There are a lot of uses of ATM. Let me mention them one by one.

Cash Withdrawal

Well guys there are many important applications of ATM machine. One is that one can easily withdraw money with the help of this very ATM machine. In spite of a number of innovative services being made easily available at many ATMs, cash withdrawal still remains the most accessed service at ATMs.  However the migration of routine bank transactions like cash withdrawals from teller machine to ATMs significantly raises the potential for savings in employee costs.

Cash/Cheque Deposit

Well guys in the previous sub section you have learnt about Cash Withdrawal uses. Now here is another one. This is regarding Cash and Cheque Deposit. It is to be noted in India there is a strong cash culture. So Cash Deposits are most likely higher as compared to other markets. This is especially when Cash Deposits are made by Commercial customers such as retail customers.

`A high cash withdrawal rate results in higher ATM servicing costs due to frequent cash replenishment requirements. The fact is that recent development in ATM technology have made it very possible to recycle cash. However regulatory concerns related to identification of counterfeit notes and its depositors need to be addressed first.

Bill Payment

Well guys till now you have know some uses of ATM machines. Also you get to know about cash withdrawal and balance enquiry uses. Apart from this I have mentioned about cash deposit as well as cheque.  Now here is another one that is Bill payment. Let me list some bulleted points regarding this. So guys are you ready? I hope you will be-

• The fact is that most utilities have inadequate infrastructure for receiving bill payments. This actually results in long queues at collection centers. That is why bill payment at ATMs has achieved noticeable acceptance by bank customers as well.
• Also ATM users register their water, electricity as well as telephone utility accounts with banks and check their dues at ATMs as well.
• The main thing is here that this service has the effect of improving customer satisfaction, not only for banks but also for bill payments service providers.

Sale of Paper Based Product

Now there is another one. This is related to product selling. In fact ATMs are suited to sell paper based products and services. These services included a lot of things. These include tickets, wireless phone recharge cards, financial products and so on.  Also a number of banks like that of ICICI Bank , SBI as well as PNB have ATMs at many places to dispense season tickets to commuters.

Meaning of ATM

Well guys till now you have learnt a lot about Automated Teller Machine. In this section I am going to elaborate more regarding the meaning of ATM. In the previous section you have come to know about the various uses of Automated Teller Machine. However there are still many things in their case. Now guys and girls if you want to know more in details about the meaning of ATM, here I am providing you some more about ATM. Let’s get started.

What is ATM?

Guys and girls an automated teller machine is in fact an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller. The benefit is that one can access most ATMs if he or she is having a credit card or debit card. The first ATM appeared in London in year 1967. The amazing thing was that in less than 50 years, ATMs spread around the globe, thus securing a presence in every major country.

Breaking Down Automated Teller Machine

There are actually two primary types of ATMs. Basic units allow customers to withdraw cash and also receive reports of their account balances only. The more complex machines accepts deposits, facilitate line of credit payments and report account information. Well Analysts anticipate ATMs will become even more popular as well as forecast an increase in the number of ATM withdrawals.

ATM ownership

So guys there is another sub section here and that is regarding that of ATM ownership. In many cases. banks and credits unions own ATMs. However it may also happen or possible in some cases that individuals or also small business may also buy or lease ATMs. This may be on their own or through an ATM franchise.

Some Important Terms about ATMs

ATM Cards

This is also one of the thing most of the people are looking for. Actually an ATM card is an payment card. It is in fact issued by a financial institution. This enables any customer having that very card to access an automated teller machine in order to perform transactions. This may includes deposits, cash withdrawals as well. Apart from this one can also obtain his or her account information and so on.

Working of ATMs

As you know there has two input devices an ATM is having. There is a Card reader. This card reader captures the account information that is stored on the magnetic stripe on the back of an ATM/debit or credit card. Also the host processor uses this information now to route the transactions to the Cardholder’s bank.