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Full Form

ATM Full Form, What is the Full form of ATM?

ATM refers to automated teller machine. It is also known as (ABM) automated bank machines. It is a banking electronic outlet allowing the customers to do their transaction using their debit or credit card to get cash from the ATMs. Thus, users can avoid the help of a branch teller or representative for these basic transactions.

ATM Full Form

ATM Full Form


Why use an ATM?

ATM is convenient and safe to manage money. ATMs are in millions, found everywhere. Moreover, it allows using ATMs for 7 days and 24 hours. You also get to select the language of your choice, thereby making understanding easy.
ATM allows consumers to enjoy quick self-service transactions.

The advantage of using an ATM has ruled out standing in queues to get passbook entered. The ATMs allow printing your account transactions or activity statement. If you do not want to withdraw, just check the account balances on the screen. You can access an ATM operated by the same or any bank, though there are a few restrictions. Above all, you can also make deposits, anytime you have extra cash.

ATM using fee

The fee charged by the ATM is for a non-customer on using. Bear in mind, regardless of the fee ATM charges you, it is much less than a check cashing service fee. The fees are for withdrawals only. you can avoid the ATM fee by using directly operated ATM by the bank where you hold an account.

How to use an ATM?

To use or access an ATM, you should insert a debit or ATM card and enter a secret password created by you. It is known as PIN, Personal Identification Number.

Note: PIN is the security 4-digit number provided by the bank while issuing the ATM card.  You can change the PIN number to your convenience.

What does ATM do?

ATM has several functionalities besides the basic cash dispensing. They are:


  • Cash and cheque deposit
  • Cash withdrawal and fund transfer

  • Mini statement and balance enquiry
  • PIN change and Bill payments
  • Mobile recharge, etc.
Key Takeaways

The ATM that was introduced first was only to dispense cash to customers in 1969 at New York (USA) by Chemical Bank.  The ATM inventor was John Shepherd Barron.
ATM PIN has 4 digits. Initially, John Shepherd Barron wanted 6 digits ATM PIN, but his wife could not remember more than 4 digits. Thus, it has 4 digits as PIN number.
In India the first ATM was installed in 1987 by HSBC and the first ATM in the world was at Barclays Bank of London, on 27 June 1967.