Learn what ATM stands for and how it works for financial transactions. Find out the advantages, functions, and types of ATMs and how to use them safely. The full form of ATM is Automated teller Machine, it is an electro-mechanical machine which consists of automated banking platforms that allow clients to perform smooth transactions without the assistance of a branch representative or teller. The ATM, also known as the Automated Teller Machine , is now an essential part of modern banking and our everyday routines. These machines have completely transformed the way we manage our money, allowing us to withdraw cash and carry out various financial transactions without needing to visit a bank or interact with a human teller.