ATM CARD Meaning and
Definition
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An ATM card refers to a plastic card issued by a financial institution to its customers, which enables them to access their bank accounts and perform various financial transactions through Automated Teller Machines (ATMs). This type of card is linked to the account holder's bank account and allows for easy and convenient cash withdrawals, balance inquiries, fund transfers, and other banking services.
The ATM card typically features a magnetic strip or a chip that stores the account information required for authentication purposes. To ensure security, a Personal Identification Number (PIN) is associated with the card, which the cardholder must input into the ATM machine to access their account.
The primary function of an ATM card is to enable cash withdrawals from ATMs, which are available not only at bank branches but also various other locations such as shopping malls, airports, and gas stations. However, an ATM card can also be used for non-cash transactions such as checking account balances, printing mini statements, transferring funds between accounts, and even depositing cash or checks into one's account, depending on the capabilities of the specific ATM.
ATM cards have significantly enhanced banking convenience, allowing customers to have immediate access to their funds any time of the day or night. They have greatly reduced the need for customers to visit a bank branch for routine transactions, making banking faster, more accessible, and more efficient.
Common Misspellings for ATM CARD
- ztm card
- stm card
- wtm card
- qtm card
- afm card
- agm card
- aym card
- a6m card
- a5m card
- atn card
- atk card
- atj card
- atm xard
- atm vard
- atm fard
- atm dard
- atm czrd
- atm csrd
- atm cwrd
Etymology of ATM CARD
The word "ATM card" is an abbreviation that stands for "Automated Teller Machine card".
The term "ATM" originated in the 1960s as a shortened form of "Automated Teller Machine", which referred to a device that allows customers of a financial institution to perform transactions without the need for human tellers. ATMs were developed as a way to enhance banking convenience and accessibility.
The word "card" refers to the physical plastic card that is issued by a bank or financial institution, allowing the cardholder to access their account and perform transactions at an ATM.
Therefore, the term "ATM card" evolved to describe the specific type of card that is used to access an automated teller machine.
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