ATM meaning in Banking ?

Answer:

What is Automatic Teller Machine mean?

An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, funds transfers, balance inquiries or account information inquiries, at any time and without the need for direct interaction with bank staff.

ATMs are known by a variety of names, including automatic teller machine (ATM) in the United States (sometimes redundantly as "ATM machine"). In Canada, the term automated banking machine (ABM) is also used, although ATM is also very commonly used in Canada, with many Canadian organizations using ATM over ABM. In British English, the terms cashpoint, cash machine and hole in the wall are most widely used. Other terms include any time money, cashline, tyme machine, cash dispenser, cash corner, bankomat, or bancomat. ATMs that are not operated by a financial institution are known as "white-label" ATMs.

Using an ATM, customers can access their bank deposit or credit accounts in order to make a variety of financial transactions, most notably cash withdrawals and balance checking, as well as transferring credit to and from mobile phones. ATMs can also be used to withdraw cash in a foreign country. If the currency being withdrawn from the ATM is different from that in which the bank account is denominated, the money will be converted at the financial institution's exchange rate. Customers are typically identified by inserting a plastic ATM card (or some other acceptable payment card) into the ATM, with authentication being by the customer entering a personal identification number (PIN), which must match the PIN stored in the chip on the card (if the card is so equipped), or in the issuing financial institution's database.

According to the ATM Industry Association (ATMIA), as of 2015, there were close to 3.5 million ATMs installed worldwide. However, the use of ATMs is gradually declining with the increase in cashless payment systems.

reference

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Association of Teachers of Mathematics	Associations & Organizations
Automated Teller Machine	Banking
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Automated Transaction Machine	International
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ATMosfer	International
Ask Too Much	Internet
At the moment	Internet Slang
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Asynchronous Transport Mode	Medical
Awareness Through Movement	Medical
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Asian Traditional Medicine	Medical
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Anti-tank Missile	Military and Defence
Advanced Trauma Management	Military and Defence
Air Target Material	Military and Defence
Assign Traffic Metering	Military and Defence
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Automated Telephone Manager	Softwares
Automated Trading Machine	Stock Exchange
Amsterdam Treasury Bond Market	Stock Exchange
Automated Transmissions Machine	Telecommunication
Altamira Airport	Transport & Travel