Q:
What does ATM stand for?
A:
Quick Answer
ATM is an abbreviation for automated teller machine. These telecommunications devices allow card-holding banking customers access to their accounts and funds at any time and in places outside of their institution's branches.
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Full Answer
Conceptualized as far back as 1939, the first modern ATM was invented by John Shepherd Barron and installed in a branch of Barclays Bank in North London in 1967. This and other early machines were not linked to their banks' computer systems and issued funds in exchange for vouchers. Since then, ATMs have become a part of a global banking network, with machines and cards that have been standardized, and allow customers access to their money at almost any time or place around the world.
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Related Questions
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Q:
How much money can you take out of an ATM?
A: The amount of money people can take out of an ATM depends on the card issuer. Because each bank places its own limits, some cap the amount at $500, while o... Full Answer >Filed Under: -
Q:
How does an ATM function?
A: An ATM functions as a data terminal that connects to a host computer and bank computer through a network connection. A typical ATM has four output and two ... Full Answer >Filed Under: -
Q:
How much money is in an ATM?
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How do you withdraw money from an ATM?
A: In order to withdraw money from an ATM, you'll need to insert the ATM card provided by your bank and use your personal identification number (PIN) to acces... Full Answer >Filed Under:
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