Automated Teller Machines are developed for the smooth functioning of banks.Automated Teller Machines it is elector machines which are used for the financial withdraw or deposit of money from the personal bank account. But, What is the full form of ATM?
ATM full form stands for Automated Teller Machine. ATM makes bank burden very low because banks is a very crowded place where a lot of financial transaction takes place, and it’s challenging to maintain all work. To solve these problems, elector machines made called automated teller machines, which are used to withdraw money from the personal account.
What are the Advantages of using ATM
1. Easily access: – ATM has been build all over the country, city and the local village. A regular user can quickly get ATM in his local areas.
2. High security: – Security is the main reason why peoples use ATM. Guards and CCTV are present always for ATM (if you don’t know CCTV full form). But the person using ATM must be aware of all illegal practices…
3. Easy to withdraw:-Person who don’t use Atm will face problems likes are standing in ques of bank to withdraw money. But a person who uses ATM never faces any problem like these.
4. All-time available: – Atm is available 24*7 for his user. Atm is not closed in any case except some emergency.
5. Increase withdrawal limit:- The person who use ATM or ATM Card can upgrade his limit of withdrawing or degrade his limit of withdrawing without going to banks, just by opening bank application online on his mobile or pc.
What are the Disadvantages of Using ATM
1. Plastic ATM card: – Banks use low quality of plastic to make an ATM Card. These cards are easy to break and easily hacked.
2. Low security:-Having good and advance technology cannot save the user money by hacking. These cards are easy to hack, and good hackers teams can easily hack Automated Teller Machines
3. Few ATM in local: – In Local areas, only a few ATM are available alone, this makes user un-trackable to ATM’s
As we know, every machine has different parts. Each part has its function to perform. But what are parts of ATM?
Input device are those parts which take data from user and submit in banks transaction
1. Card Reader: – Card reader is an input device of Atm. Which read the pin and chip of ATM Card and present them in machines, father process takes place and based on your bank account it sent information on-screen which is the output device of atm
2. Keypad:-Keypad is an input device which receives data in numerical, alphabetical and roman numbers and then interprets them to machines and banks software
The output device is the result of the data which you sand in input devices. Here are some Output devices
1. Speaker:-In ATM speaker gives audio information to use ATM keypad and all other devices
2. Display screen: – Display screen guild the user with a visual guideline to use ATM. All the instructions are granted by the screen only. And the quality of the screen is LED
3. Receipt Printer: – Printer provides a financial receipt when user use ATM. This types of Receipt help users to file suit in court for any miss happing.
How ATM works?
As we know, Full Form ATM (Automated teller machines). Most frequently asked question about ATM, How ATM work, and how the user can withdraw the amount from ATM. So let’s begin
First, reach to your near Atm Building. Always take care of your plastic ATM Card as they are made up of plastic so they may give your error when they are damaged or scratch.
Submit ATM plastic Card in the machine, and a pop-up message will appear on the screen of the ATM.
Choose your know language from the screen, make sure screen is not touch screen. The appropriate button is provided on the side of the screen.
After selecting the language, you may choose your option if you want to withdraw, change registered mobile number, net backlink, etc.
After deciding best option from the screen, you may enter the amount you wish to withdraw. You may enter the amount form the input device keypad.
I hope you succeed in this, Automated Teller Machine will give you a financial transaction Receipt by output device Receipt Printer.
Interesting Facts about ATM
1. John Shepherd Barron was the first person who invented the ATM.
2. SBI Full Form (State Bank of India) was the first bank that invented the World’s First Floating ATM.
3. HSBC full form (Hong Kong and Shanghai banking corporation) was the first corporation who installed ATM in India
4. Romania is the first country which gives there citizen the unique rights to withdraw the amount from ATM without any bank account in the bank.
Q&A on ATM
Q1. What is the full form of ATM
Ans.1. ATM full form is Automated Teller Machine, Also ATM full form in Hindi is “स्वचालित टेलर मशीन”.
Hope, now you are clear with the term Automated Teller Machine i.e. ATM and many other information related to ATM.