Entity: ATM-CARD
An ATM card is a special plastic card provided by a bank that allows individuals to withdraw money from their bank accounts through automated teller machines (ATMs).
ATM-CARD
Etymology
The term 'ATM' stands for 'Automated Teller Machine', while the 'card' refers to the plastic card issued by banks for accessing the machine.
Definition
An ATM card is a special plastic card provided by a bank that allows individuals to withdraw money from their bank accounts through automated teller machines (ATMs). It serves as a convenient financial tool that enables users to access cash and perform banking transactions through self-service machines.
Historical Context
The concept of ATM cards originated in the late 1960s and has since revolutionized the way people access their funds and conduct banking transactions. The first ATM was installed by Barclays Bank in London in 1967, marking the beginning of a new era in banking technology.
Cultural Significance
ATM cards have become an integral part of modern banking culture, offering customers 24/7 access to their funds and reducing the need for physical bank visits. They provide a secure and convenient way to manage finances, making everyday transactions quick and efficient.
Related Concepts
Other related concepts include debit cards, credit cards, and mobile banking applications, all of which offer different ways for individuals to access and manage their money electronically.
See Also
A convenient financial tool that enables users to access cash and perform banking transactions through self-service machines.