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Finance & Banking vocabulary · Payments & Cards

ATM

Meaning in finance & banking, with examples

abbreviationCore term

In finance & banking, ATM means: Short for automated teller machine: a machine where customers use a card or phone to withdraw or deposit cash and do other banking without staff.

In Turkish: ATM, bankamatik

How it is used

Used everywhere in retail banking and said letter by letter. Customers withdraw cash from an ATM, and an ATM can retain (swallow) a card. Many ATMs now accept deposits and cardless withdrawals with a QR code. In the UK people also say 'cash machine' or 'cashpoint'.

Example sentences

  1. The ATM kept my card because I entered the wrong PIN three times.

  2. We are replacing old ATMs with machines that also accept cash deposits.

Common collocations

  • withdraw cash from an ATM
  • ATM network
  • ATM fee
  • cardless ATM withdrawal
  • withdrawalTaking money out of a bank account, for example at a cash machine or in a branch, or the amount that is taken out.
  • PINShort for personal identification number: a secret code, usually four to six digits, that proves you are the cardholder when you use a card.
  • debit cardA card linked to your bank account that takes money directly from your balance when you pay or use a cash machine.
  • QR code paymentA way of paying in which the payer scans a QR code with a banking or wallet app, or shows a code to be scanned, and confirms the payment on the phone.
  • branchOne of the local offices of a bank, where customers can open accounts, apply for loans and get help face to face.

More terms: Payments & Cards

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This page explains English vocabulary for learners. It is not financial advice.