Friends, do you know by using the ATM that we withdraw money completely, who invented that ATM, if not, then definitely read this article till the end. Here we are going to give all the information related to ATM.
Table of Contents
What is ATM?
ATM is such a telecommunication controlled and computerized machine, which provides financial related facilities to the people. ATM is an electronic device used only by customers of banks. With the help of ATMs, customers of banks are able to withdraw money anywhere and anytime.
A special plastic card is given to the ATM user to use the ATM machine. And the information related to the user is already encoded through the magnetic strip in the back of this plastic card.
Who invented the ATM?
ATM was first invented on 27 July 1967 by John Shared Baron of London. The first bank to use an ATM at that time was London’s Bourkeley Bank.
When the ATM was invented by John Share Baron, he was in favor of 6 digit ATM PIN. After this his wife advised him to keep a 4 digit PIN, as the lower digit PIN code is easier to remember. Since then only 4 digit PIN code is kept till the present time.
When was ATM started?
ATM in the modern era was first introduced on 27 July 1967 by a London-based bank, Borkeley Bank.
What is the full name of ATM?
The full name of ATM is Automatic Teller Machine, which is called automatic calculator machine in Hindi. Apart from this, ATMs are also known by the names of Automatic Banking Machine, Cashpoint, Hole in the Wall, Bankmat, etc. in countries like Europe, America, Russia, etc.
Which was the first bank in India to open ATM?
ATM was first introduced in India in the year 1987. The first bank to use ATMs in India at that time was HSBC Bank (Hong Kong and Shanghai Bank Corporation). HSBC Bank started the first ATM in India from Mumbai.
Since then, ATMs are used by almost every bank in the present day, which helps in giving very good financial related facilities to the users. And in today’s time, using ATM has become an important part of the daily routine of almost every person.
Friends, i hope that you have got all the information related to the invention of ATM in this article.
