Do you know what is ATM? How does ATM work? What is the full form of ATM? How to withdraw money from ATM? If you know, that's great. If you do not know, then read this article and get complete information about ATM.
Because ATM is such a thing that is useful in our daily life. Whether it is online or offline shopping , payment transfer , whether we want to withdraw money. ATM is very useful thing.
If we need urgent money, then we can withdraw money from ATM very easily with the help of ATM . Friends, if you want to get complete information about ATM, then read this article completely because in this article I have given complete information about ATM.
After reading this article, all the doubts related to ATM will be removed.
Let's start…
What Is ATM?
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| What is ATM? |
Often people think of ATM's full form Any Time Money, which is absolutely wrong. When I was young, I also used to think the same about the full form of ATM. But actually the full form of ATM is Automatic Teller Machine .
If you take its meaning, then it is called automatic calculator. ATM means that it follows your command and gives you the calculation of money itself.
Meaning that you just have to command the ATM that how much money you want to withdraw, transfer. It follows our instructions.
History Of ATM
The inventor of the Automatic Teller Machine ( ATM) was John Shepherd Barron. Who invented it in 1960. ATM was first used on 27 June 1967 at Barkeley Bank in London.
ATM service was first started in India from 1987. The first ATM in India was used at the ATM Hong Kong and Shanghai Banking in Mumbai.
Do you know why ATM PIN is only 4 digits? Actually, the full credit of ATM PIN being 4 digits goes to the wife of John Shepherd Barron, the inventor of ATM.
Because John Shepard was making an ATM PIN of 6 digits, then his wife told him that the 6 digit PIN would be difficult for people to remember. You make a 4 digit PIN only. Which makes it easy to use and remember people. That's why John Shepard made the PIN of the ATM 4 digit.
Due to having an ATM card, we do not have to make long lines in the bank with the passbook to withdraw money from the bank. We can easily withdraw and transfer money in just a few clicks.
What is the ATM Card?
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| What is the ATM Card? |
The bank issues a plastic card to all its customers with a 14-16 digit number, a 3 digit CVV number, a chip, dates, etc. With the help of this, you can withdraw and transfer money from ATM machine. This is called ATM card.
With the help of ATM card, we can also do online shopping, online transactions.
How many types of ATM cards are there?
There are four types of ATM cards.
1. Rupay Debit Card
2. Vida Debit Card
3. MasterCard Debit Card
4. Maestro Debit Card
Indian banks mostly give Rupay Debit Card to their customers. Rupay Debit Card has some limitation as you cannot do any international transaction with Rupay Card. Only national transaction is allowed.
And you can do international transactions with the other three cards. There is a chip on the ATM card in which all your account details are stored.
At this time wifi support ATM card is coming. You no longer have to slide that card into the machine. You can transfer money by simply doing a wifi scan and then entering the PIN.
How does ATM work?
Any person can withdraw money by entering his/her Debit/Credit card in the ATM machine using ATM PIN. All the details of your account and card are hidden in the magnetic strip of the ATM card.
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| How does ATM work? |
By sliding the same strip into the ATM machine, the machine accesses your account details and withdraws the money.
ATM machine works on the Electronic Fund Transfer process. When we withdraw money by inserting the card in the machine, then there is an approval code from the bank to the host processor ATM, only after that the ATM machine withdraws the money to you.
How to withdraw money from ATM?
To withdraw money from ATM, you can withdraw with the help of ATM card given by any bank. There is only one condition that your ATM card should be operational.
With ATM card you can withdraw only Rs 10,000 at a time. However, from some bank's ATM card, you can withdraw from 20000 to 1 lakh rupees in a day. Every bank's policy is different.
That's why you also have an ATM card of the GC bank, you can find out from its help portal , how much money can be withdrawn from ATM in a day ?
And to withdraw money from the ATM card , you must remember the ATM PIN. You cannot withdraw money without ATM PIN. ATM PIN is a four-digit code that is used when withdrawing money from an ATM.
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| How to withdraw money from ATM? |
Now follow the steps given below carefully to withdraw money from ATM.
Step 1. First of all, you put your ATM card in the ATM machine. (In the old ATM machine the card has to be inserted immediately but in the new ATM machine the card is not to be withdrawn immediately. You should never forcefully remove the ATM card.)
Step 2. After this you will be asked to choose your language. Whichever language you know well about, select that language.
Step 3 . You enter the 4 digit PIN of your ATM.
Step 4. Click on Banking. Now you will see a Withdrawal option. Click on the Withdrawal option.
Step 5. Now select the account.
Step 6. Now fill the amount you want to withdraw. And click on OK.
Step 7. Now take your cash. Now you will get the receipt of cash.
Step 8. If you want to withdraw money from ATM again, then click on “Another transaction”.
Some precautions related to ATM card that everyone should take.
- Do not share your ATM PIN with any family member or relative.
- While doing online transaction with ATM card, pay attention to whom and how much amount you are transferring.
- If you get any call in which information related to you is asked, then do not tell any of your details. Be it any officer of the opposite bank.
- Keep your ATM card as clean as money in your wallet. And do not keep your ATM PIN written anywhere.
- After withdrawing money from ATM, erase all your data.
- Report the ATM theft immediately. And get your ATM card blocked by going to the bank as soon as possible.
- Keep all information from your account and ATM card private. Do not share with anyone.
Advantages of ATM Machine
- We can withdraw and transfer money from ATM whenever we want 24 hours a day.
- You can travel anywhere with an ATM. And you can withdraw money whenever you want.
- With ATM card, we can do online shopping and also do online transactions.
- ATM card provides privacy to our banking communication.
- ATM provides the service without any error and this also reduces the work load of the bank employees.
- With the help of ATM card, we can transfer money from one bank account to another bank account.
- By using an ATM card, we do not have to carry much money around, so that we do not have the fear of losing or falling money.
Frequently asked questions
Who invented the ATM card?
The first ATM machine was invented by John Shepherd Barron and his team in 1967.
When was the ATM machine first used?
The ATM machine was first used in June 1967 at Barkeley Bank in London.
What is the full form of ATM machine?
The full form of ATM machine is Automatic Teller Machine.
How much money can be kept in an ATM machine at a time?
There are 4 cassettes in an ATM machine. All cassettes can hold 22 packets (100 notes). Notes of ₹ 100, ₹ 200, ₹ 500 and ₹ 2000 are kept in each cassette respectively.
How much money can I withdraw from ATM at a time?
Withdraw up to ₹ 10000 at a time from ATM
How much money can I withdraw from ATM in 1 day?
You can withdraw ₹ 20000 thousand to ₹ 50000 in a day from ATM. Through POS, you can withdraw 1 lakh 25 thousand rupees in a day.
How many times can I withdraw money from ATM card in 1 month?
How to apply for ATM card?
You can apply for an ATM card online by visiting the official website of your bank. Either you can go to your nearest bank and get the ATM card issued.
In how many days is the ATM card made?
The ATM card is generated within 7 days from the date of your application.
How to generate PIN of ATM Card?
First of all, visit your bank's ATM card. And enter your card in the ATM card machine. After that choose the language. Now you type any 2 digits. Then you will be asked for PIN, type whatever PIN you want to set.
After this a message will come on your register number. Then type that message in the ATM card. After this your ATM PIN will be generated successfully. Now you can use your card.
So friends, you have to know about this ATM card “ ATM kya hai? , How did you like the ATM ka full form kya hota hai? Please tell us by commenting.
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