ATM full form is an Automated Teller Machine. It is the machine that dispenses cash and performs many non-financial activities like balance enquire, mini statement, atm pin generation, fund transfer, etc.
ATM invented by John shepherd-Barron. THE first ATM installed in June 1967 at Barclay’s Enfield Town Branch.
Types of Automated Teller Machine
ONSITE ATM-These type of ATM set up and operated by bank branches inside bank premises.
OFFSITE ATM-These type of ATM set up and operated by bank branches outside bank branches.
WHITE LEBLE ATM-These type of ATM set up and operated by nonbank institutions.
BROWN LEBEL ATM-These type of ATM set up by the bank and operated by nonbank institutions.
BIOMETRIC ATM- These types of ATM set up for illiterate customers.
TALKING ATM- These types of ATM set up for blind customers.
PINK LEBEL ATM- These types of ATM set up for women.
GREEN LEBEL ATM- These types of ATM set up for agricultural transactions.
YELLOW LEBEL ATM- These type of ATM set up for E-commerce
ORANGE LEBEL ATM- These types of ATM set up for share transactions.
Nowadays recyclers are replacing the ATM machine. Recyclers are a combination of ATM and CDM machines. So Recyclers use for cash deposits as well as cash withdrawal.
Automated Teller Machine(ATM) landed on the high street at Enfield, the suburb of London, in the division of Barclays bank and there’s still a blue plaque on the outside of the building, still, a Barclays, To memorialize this payment dispenser’s June 27, 1967, beginning.