The full form of ATM is Automated Teller Machine. An ATM is an electronic machine used for financial transactions, such as withdrawing money, checking account balances, transferring funds, and more. ATMs are self-service banking outlets that do not require any banking representative or teller. Different banks provide their ATM services by installing cash machines in different parts of the country, and you can withdraw money from any of these machines irrespective of whether or not you are an account holder in the same bank. ATMs are available 24/7 and are convenient for consumers to perform quick self-service transactions.