Explore the meaning behind every acronym!
Category: Finance
First Invention: 1967 (John Shepherd-Barron)
Country of Origin: UK
Reviews:
An electronic banking outlet that allows customers to complete basic financial transactions without the need for a human teller.
ATMs can be used to withdraw money, check account balances, and transfer funds between accounts.
Modern ATMs allow for cash deposits and bill payments.
They are a critical part of the global banking infrastructure, providing 24/7 access to funds.
ATMs use a combination of card readers, PIN numbers, and bank authorization to allow transactions.
Yes, many ATMs now have the functionality to deposit checks and cash.
Fees can apply, especially if using an ATM outside your bank’s network.