ATM, which stands for automated teller machine, is a device that allows banking customers to withdraw cash, check their account balances, and perform other banking transactions. It has become a ubiquitous part of modern life, with ATMs found in almost every corner of the world. In this article, we will explore the definition and meaning of ATM.
Definitions
ATM is an acronym for automated teller machine, which is a computerized device that enables customers to perform banking transactions without the need for a human teller. It is also known as a cash machine, cashpoint, or bankomat.
Origin
The first ATM was introduced in the UK in 1967 by Barclays Bank. It was a revolutionary device that allowed customers to withdraw cash without the need for a human teller. Since then, ATMs have become a standard feature of the banking industry and are now available in almost every country in the world.
Meaning in different dictionaries
According to the Cambridge Dictionary, ATM is defined as “a machine outside a bank or other building where you can get money from your bank account using a plastic card”. The Oxford English Dictionary defines it as “a machine that enables customers of a bank or other financial institution to perform transactions and obtain information about their accounts”.
Associations
ATMs are associated with convenience, speed, and accessibility. They allow customers to withdraw cash and perform other banking transactions at any time of the day or night, without the need for a human teller. They are also associated with security, as they often have security cameras and other measures to prevent fraud and theft.
Synonyms
Some synonyms for ATM include cash machine, cashpoint, bankomat, and automated banking machine.
Antonyms
There are no direct antonyms for ATM, as it is a specific type of device. However, some antonyms for the concept of an ATM might include manual banking, in-person banking, or traditional banking.
The same root words
The acronym ATM is derived from the words “automated teller machine”. The root words are “automated”, which means operated by machines rather than humans, and “teller”, which refers to a bank employee who handles transactions.
Example Sentences
- I need to withdraw some cash from the ATM before we go to the movie.
- The ATM was out of service, so I had to go inside the bank to make a withdrawal.
- She forgot her ATM card at home, so she couldn’t withdraw any money.
- The bank installed a new ATM in the shopping mall to make banking more convenient for customers.
- He checked his account balance at the ATM and was pleased to see that he had enough money to pay his bills.