ATM means :

  1. Automated Teller Machine
  2. Any Time Machine
  3. All Time Money
  4. Automatic Teller Machine
Manish Listener Asked on 23rd June 2015 in Finance.
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  • 2 Answer(s)

    Answer: (1) Automated Teller Machine

    RE: ATM means :

    It is known as automated banking machine. It is an electronic device which is used in financial institution. It is able to cash withdrawal without any cashier  or clerk.
    it was invented in the 1960.

    Anurag Mishra Professor Answered on 26th June 2015.
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    Automated Teller Machine

    The evolutionary trend from cash economy to cheque economy and on-wards to plastic card economy is witnessed in the introduction of ATMs. ATM or Automated Teller Machine outwardly appears like a human weighing machine kept in railway platforms. These days, ATMs are securely placed inside the walks of banks premises. While a weighing machine measures the weight of a person in kilograms. The ATM measure the bank balance of a person in Rupees.

    ATM have many advantage Some of which are given below.

    • In ATM one can draw cash round the clock (for 24 hours a day) and no employee interface is required.
    • ATM provides customer not having credit card facilities an alternative for obtaining cash when required
    • In eliminates the need for the customers to travel to branch at which his accounts are maintained if the machine are conveniently located and networked
    • Automatic and instantaneous accounting is possible
    • Customer can deposit cash/ instruments and leave instruction for the the requirements of statement of accounts, tans for etc.
    Monis Rasool Professor Answered on 28th June 2015.
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