What Does ATM Stand For?
Last Updated Apr 4, 2020 5:03:57 AM ET

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.
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.
More From Reference

What Are the Steps of Presidential Impeachment?

What Does George Soros' Open Society Foundations Network Fund?

The History of the United States' Golden Presidential Dollars

How the COVID-19 Pandemic Has Changed Schools and Education in Lasting Ways

Fact Check: Is the COVID-19 Vaccine Safe?

How Does the 25th Amendment Work — and When Should It Be Enacted?