ATM: Full Form, Meaning, and Definition

byPaytm Editorial TeamLast Updated: December 10, 2024

ATM Full Form and Meaning

ATM stands for Automated Teller Machine, a self-service machine that lets you withdraw cash, check account balances, deposit money, and perform other banking tasks without visiting a bank branch.

ATM Definition

ATM is an electronic banking machine that provides customers access to their bank accounts 24/7 through a secure PIN-based system.

Key Features

  • Convenient Access: Available anytime, anywhere.
  • Multiple Services: Cash withdrawal, balance inquiry, mini statements, and fund transfers.
  • Secure Transactions: Requires a PIN for access.

Example: If you need cash urgently, you can use your debit card at an ATM near you to withdraw money instantly.

Why it’s Useful: ATMs make banking easier by reducing the need to visit a bank for basic services, saving time and effort.

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