ATM full form | What is ATM-Working, PIN,Safety,ATM Card Explained ?

ATM full form 

ATM Full Form -What is ATM ? It is a cash machine that allows you to withdrawl your money from your bank account wihtout going to bank. ATM  is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, Such as cash withdrawals, deposits, funds transfers, or account information inquiries, at any time and without the need for direct interaction with bank staff. 

ATM Full Form is mentioned below :

Automated Teller Machine

What Is An ATM Machine?

The ATM machine was operational in 1966.You need an bank authorized ATM card with a PIN to withdraw money directly from your bank account.The idea of generating a PIN lock  stored on the card was developed by a group of engineers working at Smiths Group in 1965.

What is an ATM machine?

The “artificial flesh” ATM was developed by Brian Carpenter, John White and J.C. Watson from United States of America in 1967. The machine allows you to withdraw money without a bank account. This means it is a money exchange. Currently, the automated teller machine can be found all over the world and there are thousands of machines in Kenya. How do you pay for things with an ATM? An ATM Machine is usually accessed by tapping in your card PIN at a machine and using an interface to read and key in the transaction. You will get an authorization code which you will have to enter on the interface before you get your cash.

What does an ATM machine do?

To use an ATM, you usually fill in your personal identification number (PIN). You hold the card in your hand and enter the PIN. The ATM will beep if the PIN has not been entered correctly. You receive your money from your bank account. However, in some countries, some methods can be used to trick the machine and try to withdraw money by other means. How to Avoid Credit Card Theft Modern ATMs protect your card PINs with a separate lock. To open this lock, you must have your PINs. You can always enter the PIN into the machine and it will unlock the lockout, but be careful, for some machines this information is not protected. Be aware of this possibility and don’t leave your credit cards at the machine. Instead, get into the habit of keeping them on the front of your wallet or purse.

How do ATM cards work?

When you walk up to an ATM, there are two buttons: An “OPEN” button that activates the machine A “CLOSE” button that stops the transaction The machine scans your card, deposits funds into your account, and returns the card. You then pay the balance to the merchant’s account. As an extra precaution, ATM card data has to be stored in some way or encrypted. The recipient of the transaction uses a decryption key to retrieve the money from the card, and the data is then destroyed. “ATM interchange fee” ATM interchange fees are paid to the bank issuing the card. It’s the cost that the bank is charged for the transaction.

How does an ATM machine know your PIN?

An ATM machine uses your credit card PIN as a security feature. If someone steals your credit card from your wallet, they cannot steal your PIN. When you insert your credit or debit card, the transaction is authorized if the signature on the back of your card matches the signature on the front of your credit card. In this case, you have an old account and the new bank is trying to withdraw money from the old account. An ATM card issuer has the right to refuse the transaction because you have an old card. In such cases, the transactions are usually declined or stopped. You cannot access your ATM card until the transaction is complete. The transaction cannot be completed because the PIN is incorrect. Why are ATM machines called ‘cashpoint’?

What is an ATM card?

It is a plastic card similar to your driver’s license that allows you to withdraw money from your bank account using an ATM machine. The card stores your PIN and signature information and is issued by your bank. What is an ATM PIN Lock? The PIN lock is a mechanism that can be installed by your bank. The ATM card issued by your bank has to be signed using your ATM PIN lock by an authorized person. How to Install ATM PIN Lock on Your ATM Card? You have to contact your bank and make an appointment with the bank representative to install the lock on your ATM card. An authorized person has to authenticate with your bank when you sign your ATM PIN lock with a magnetic strip on your card.


Keep in mind that there are countless ATM devices in existence today, with different features and functions, but the ATM machine was pretty much a revolution for the entire banking industry, and it still has the power to influence money as we know it today. It’s difficult to tell how much money the ATM machine contributed to the global economy, but one thing is for sure: if it was not for the ATM machine, who knows how many products and services we would all be using today?

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