ATM – Automated Teller Machine
An Automated Teller Machine is a computerized machine, originally designed for transactions like withdrawal of money and to view bank statement, without need of human interaction. You need to have an ATM Card to do this.
But along with its basic use, today it does a lot more than that, like :-
- Fund Transfer
- Cash Deposit
- Cash Withdrawal and Balance Enquiry
- Check Deposit
- Prepaid Mobile Recharge
- Bill Payments and more.
ATM – Asynchronous Transfer Mode
Asynchronous Transfer Mode is a high-speed networking standard designed to support both voice and data communications. It uses fixed-sized cells of 53 bytes in length, that includes 48 bytes of data and 5 bytes of header. Unlike TCP/IP, in which, packet takes different route from source to destination, ATM creates a fixed channel, or route, between two points.