What is the ABM Full Form in Banking?
The ABM full form in banking is an Automated Banking Machine. It is the term that is often used to refer to automated teller machines. This machine allows the banking customers to perform financial transactions such as deposits, withdrawals, account information inquiries and fund transfers, without any need for actual direct interaction with bank staff.
Advantages of ABM in banking:
With the help of Automated Banking Machines, customers would be able to access their credit accounts and bank deposits in order to make diverse varieties of transactions, which include notable cash withdrawals and balance checking, and also include transferring credit to and from mobile phones. ATMs can also be used to withdraw cash in a foreign country, with the authentication being offered by entering a personal identification number.
Significance of Automated Banking Machines:
ATMs are convenient and allow the customers to complete the basic transactions without the need of any branch representative or teller. Anyone with a debit or credit card will be able to access cash at most of the ATMs all over the country and abroad.
Other full forms of ABM
- Assistant Branch Manager
- Activity Based Management
- Advanced Bank Management
