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Q.

What is the full form of ATM?

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Detailed Solution

The full form of ATM is Automated Teller Machine. An Automated Teller Machine (ATM) is an electronic machine used by people to perform banking tasks like withdrawing money, checking balance, and transferring funds without going to a bank branch. It works 24x7 and helps in reducing the load on bank staff.

Main Uses of ATM:

  • Cash withdrawal anytime
  • Check bank balance and mini statements
  • Fund transfer between accounts
  • Change or update ATM PIN

To use an ATM, you need a debit or ATM card and a Personal Identification Number (PIN). It is safe and easy, but users should always be careful while using ATMs to avoid fraud. ATMs are located in banks, shopping malls, railway stations, airports, and many public places to provide convenience to people.

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