Abstract: ATM is an automated teller machine which is a computerized telecommunications device that provides the customers of a financial institution with access to financial transactions in a public space without the need for a human clerk or bank teller. In ATMs the customer is identified by inserting a plastic ATM card with a magnetic stripe or a plastic smartcard with a chip (that contains a unique card number and some security information). The first ATM was installed in Enfield town in London on June 27, 1967 by Barclays Bank. ATMs are known by various other names as Automated Transaction Machine, Automated Banking Machine, Cash Point(at Britain), Hole in the wall, Ban comet(in Europe and Russia) and Any Time Money( in India)