{"id":1792,"date":"2019-07-29T06:16:34","date_gmt":"2019-07-29T06:16:34","guid":{"rendered":"https:\/\/www.ixambee.com\/blog\/?p=1792"},"modified":"2021-05-24T13:02:52","modified_gmt":"2021-05-24T07:32:52","slug":"atm-and-its-types","status":"publish","type":"post","link":"https:\/\/blog.ixambee.com\/atm-and-its-types","title":{"rendered":"Types of ATM: Important Facts, Figures"},"content":{"rendered":"

WHAT IS AN ATM (AUTOMATED TELLER MACHINE)?<\/b><\/h2>\n

An ATM (AUTOMATED TELLER MACHINE) or ABM (AUTOMATED BANKING MACHINE) is an electronic telecommunication device that enables customers to perform various financial functions such as:<\/span><\/p>\n

    \n
  1. Cash withdrawal.<\/span><\/li>\n
  2. Cash deposit.<\/span><\/li>\n
  3. Fund transfer.<\/span><\/li>\n
  4. Account information.<\/span><\/li>\n
  5. Regular bill payment.<\/span><\/li>\n
  6. Balance enquiry.<\/span><\/li>\n
  7. Mini statement. etc. Without the need of any banker or a cashier.<\/span><\/li>\n<\/ol>\n

    ATM & Important Facts<\/strong><\/h3>\n

    Before we read some more details about the ATM and its types etc., let’s first look into some of the common facts about the Automated Teller Machine (ATM):<\/p>\n

    When was the first ATM invented?<\/b><\/p>\n

    Chemical bank installed the first cash machine in the US on September 02,1969 at its branch in Rockville Centre New York.<\/span><\/p>\n

    When was the first ATM installed in India and who installed it?<\/b><\/p>\n

    Hongkong and Shanghai Banking Corporation (HSBC) installed its ATM and <\/span>India’s First ATM<\/b> at their Sahar Road Branch, Andheri East in Mumbai in 1987.<\/span><\/p>\n

    NOTE<\/b>: There are more than 3.5 billion ATM machines all over the world.<\/span><\/p>\n

    Who invented the ATM?<\/b><\/p>\n

    The ATM was invented by John shepherd-Barron (a British) and Donald Wetzel (An American).<\/span><\/p>\n

    Some more facts about ATMs in India:<\/b><\/p>\n