The acronym ATM stands for Automated Teller Machine. It’s a device that allows people to perform financial transactions without the need for a human teller.
ATMs provide a range of services, including withdrawing cash, checking account balances, and even transferring funds between accounts. They are typically available 24/7, making banking more convenient for users. The concept of ATMs revolutionized the banking industry by providing easy access to cash and allowing for self-service banking.
In summary, an ATM is a crucial tool in modern banking, offering flexibility and ease of access to financial services for customers everywhere.