What is ATM Class 11?

What is ATM Class 11?

(a)ATM : Automated teller machine is 24 hours operated automatic machine, which helps in depositing and with drawing money. It is done by inserting a plastic card (ATM Card) and entering Personal Identification Number (PIN).

What is ATM and types of ATM?

Different types of ATMs in India are: On-site ATM – ATM Machines which exist within the premises of the bank. Off-site ATM – Off-site ATMs means the machine which operates outside the bank premises. White Label ATM – White Label ATM means the automated teller machine which Non-Banking Financial Companies provide.

Who made the first ATM?

Do Duc Cuong
John Shepherd-BarronDonald Wetzel
Automated teller machine/Inventors

What is the full form of ATM in GK?

The full form of ATM is Automated teller Machine, it is an electro-mechanical machine which consists of automated banking platforms that allow clients to perform smooth transactions without the assistance of a branch representative or teller.

What is full form of CDM?

CDM is termed as Cash Deposit Machine and sometimes people also refer to it as cash receiving machine. It is a terminal that helps us in depositing cash with the help of a machine without visiting a bank.

What is ATM in simple words?

An automated teller machine (ATM) is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller.

What are the two types of ATM?

Types of ATM In India

  • Onsite ATM. These ATMs are inside the bank compound and hence are known as Onsite ATMs.
  • Offsite ATMs.
  • White Label ATM.
  • Yellow Label ATM.
  • Brown Label ATM.
  • Orange Label ATM.
  • Pink Label ATM.
  • Green Label ATM.

What are the kinds of ATM?

Types of ATMs

  • White Label ATM.
  • Brown Label ATMs.
  • Onsite ATMs.
  • Offsite ATMs.

What is full form ACP?

The full form of ACP is the Assistant Commissioner of Police. In the IPS (Indian Police Service), it is known as one of the top ranks. A rank used in police forces worldwide is the ACP.

Is ATM and CDM same?

The CDM is similar to the ATM of a bank and by using it, one can deposit money directly into the savings account. One can either use the debit card or even make deposit transactions without a card using the CDM. Once the transaction is complete, the receipt provided by the CDM will indicate the updated balance.

What are the benefits of CDM?

The CDM offers opportunities for sustainable development but also brings important co-benefits, such as poverty reduction, access to energy efficient lighting and cooking, improvement of air quality and living conditions, reduction of costs and generation of jobs and skills.

How do you explain ATM?

An automated teller machine (ATM) is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller. Anyone with a credit card or debit card can access cash at most ATMs.

What is the purpose of an ATM?

An ATM, which stands for automated teller machine, is a specialized computer that makes it convenient to manage a bank account holder’s funds. It allows a person to check account balances, withdraw or deposit money, print a statement of account activities or transactions, and even purchase stamps.

What is the type of ATM card?

There are different types of Vis Debit cards. Usually, banks issue Visa Classic Debit Card, Visa Gold Debit Card, Visa Platinum Debit Card, Visa Signature Debit Card, and Visa Infinite Debit Card. Each card has its own unique features. The VISA ATM network is spread throughout India and abroad.

What are the uses of ATM?

Apart from cash withdrawal and checking account balance, ATMs today offer multiple facilities for the convenience of bank customers.

  • Open or withdraw a fixed deposit.
  • Recharge your mobile.
  • Pay income tax.
  • Deposit cash.
  • Pay insurance premium.
  • Apply for personal loan.
  • Transfer cash.
  • Pay your bills.