Everyone needs money. Today, if you need money, you can withdraw money from any bank’s ATM. But years ago this was not possible. Today we will tell you how ATM was invented and what is the full name of ATM.
Full name of ATM
Nowadays it is very easy to withdraw money deposited in the bank. For this you can withdraw money by going to the ATM of any bank. Do you know the full name of the machine which you use to withdraw money today? After all, what is the full name of ATM? Actually the full name of ATM is Automated Teller Machine. ATM is a computerized device, which enables individuals to perform various banking transactions without the need of a human teller.
invention of atm
According to experts, the first automated banking machine was created by American inventor and businessman Luther Simjian in the year 1939. However that machine was not accepted by the customers. Due to which he was removed. Apart from this, the first automated banking machine in America was installed by Donald Wegel in September 1969 in the branch of Chemical Bank. The first ATM to withdraw cash was installed in Barclays Bank of London on 27 June 1967. ATM service was started for the first time in India in 1987, when HSBC installed this machine in Mumbai.
Different names of ATM
Let us tell you that ATM is known by many names in different countries. Like in United Kingdom and New Zealand it is called cash point or cash machine. In Australia and Canada it is called money machine. In India i.e. our country it is called ATM machine. Today, ATM machines are present in every city of India, which makes it convenient for common citizens to withdraw money.
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