ATM FULL FORM AND TYPES OF ATM.

April 3, 2024

ATM full form is Automated Teller Machine. It is one of the best machines in the world that is used for taking money, checking bank accounts, and changing money from bank accounts. Every bank has its ATMs, which are used all over the world. ATM has many types and categories.

Because in developing countries, all machines are well-established. The first ATM was built in the United Kingdom in 1969. RegVarney launched this machine in the UK. John Shepherd-Barron invented this machine in 1960. He also gave the idea of an ATM.

In this article, we will talk about atm full form, atm meaning, benefits of atm, the function of atm, and atm full form in computer.

What is an ATM?

You can withdraw money from any bank ATM in the country. But the main fact is that other banks charge if you have drawn money from another bank at the moment but this is not large. If you transact money from another bank, your bank charges u some nominal amount.

Types of an ATM:

There are two types of ATMs. The first one is a basic machine that is used for drawing money, checking bank statements, and balancing and changing the PIN of the ATM. The second one is a complex unit used for drawing and depositing checks through machines, but it is not present in all countries in the world.

There are two types of atm according to the location. The first one is an on-site ATM, which is attached to the bank. The second one is the offsite machine, which is present everywhere in the country.

Basic Unit	Withdrawn money, check balance, and pin
Complex Unit	Check deposit, and bills, and book railway tickets

Categories of an ATM:

ATMs have labels that are divided into 6 basic categories. These are yellow, green, orange, pink, white, and brown labels. Yellow labels are for those who want to transact e-commerce transactions. Green labels are only used for agricultural materials. Pink labels are for women to avoid long queues. orange labels are used for transactions. Nowadays, ATM is operated with an eye scanner, biometrics, and fingerprints.

The atm full form in hindi is the Swachalit automated machine. It has many benefits, like withdrawing money, changing pins, and checking the balance. In the complex unit, we can deposit and receive the check. We can also book the tickets, transact the insurance, take the balance on your mobile, etc.

White Label	For only Tata group
Yellow Label	For e-commerce transaction
Pink Label	For women only
Green Label	For agriculture purposes
Orange Label	For share transaction
Brown Label	For third party

The function of an ATM:

We can use ATM in 24 hours every day. Now, we can discuss a deep discussion about how to use ATMs. Everyone has credit and debit cards for ATMs. First, we insert the card, and then the machines show notifications to put pins, then we enter the pin and the main menu is open some options are present but we select cash withdrawn and put the number of digits that we want money. The machine takes the instruction and gives a card back to us, and after 1 to 2 seconds, it gives us money, which we want.

Benefits of an ATM:

It has many benefits, such as speed, convenience, and services, which are very fast. Nobody can interfere in transacting money. atm full form in banking sector is very important. In Canada, it is also known as an automated banking machine. In European countries, it is also known as a cash point and a hole in the wall. There are a wide range of networks of ATMs all over the world.

The total number of ATMs all over the world is about 3.5 million. The security of ATMs is very high. Because every person has a PIN, when someone wants to take money from another person’s card, every person can’t take money from another person’s card.

Conclusion:

The first ATM was built in the United Kingdom in 1969. RegVarney launched this machine in the UK. John Shepherd-Barron invented this machine in 1960. He also gave the idea of an ATM. You can withdraw money from any bank ATM in the country.

If you transact money from another bank, your bank charges u some nominal amount. In Canada, it is also known as an automated banking machine. In European countries, it is also known as a cash point and a hole in the wall. There are a wide range of networks of ATMs all over the world. The total number of ATMs all over the world is about 3.5 million.