ATM – Automated Teller Machine – What is ATM? Uses of ATM

ATM. Short Notes on Automated Teller Machine (ATM). What is ATM? Uses of ATM.

ATM – Automated Teller Machine is an electromechanical device that permits authorized users to withdraw cash from their accounts and/or access other services such as Balance enquries, transfer funds or accept deposits. ATMs may be operated either online with real-time access to an authorization database or offline.

In an ATM, ATM-Automated-Tellers-Machinethe customer is identified by inserting a plastic ATM card with a magnetic stripe or a plastic smart card with a chip that contains a unique card number and some security information such as an expiration date or CVVC (CVV). Authentication is provided by the customer entering a personal identification number (PIN).

Most ATMs are connected to interbank networks, enabling people to withdraw and deposit money from machines not belonging to the bank where they have their accounts.

Now banks are also rolling out Bio-Metric ATMs and Talking ATMs.

  • In ATM, What does A stands for ? – a) Any b) Automatic c) Automated
  • In ATM, What does T stands for ? – a) Time b) Transfer c) Teller


Leave a Reply

Your email address will not be published. Required fields are marked *