CASH POINT Meaning and
Definition
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A cash point, also known as an ATM (Automated Teller Machine), refers to a self-service banking machine that allows individuals to carry out various financial transactions without the need for human intervention. It offers a range of services primarily related to cash withdrawals, but may also include functionalities like balance inquiries, funds transfers, and bill payments.
Cash points typically consist of a monitor or touch screen display, a keypad for entering PIN codes and transaction details, a card reader to accept bank cards, and a cash dispenser for issuing notes. They are usually found in highly accessible locations such as banks, shopping centers, airports, and convenience stores, allowing users to withdraw cash anytime and anywhere.
To use a cash point, individuals insert their bank card into the card reader and enter their personal identification number (PIN) to authenticate themselves. They can then choose the desired transaction type and follow the prompts on the screen to complete the process. Cash points provide a fast and convenient way for individuals to access cash, eliminating the need for queuing at a bank teller.
Overall, cash points play a significant role in providing financial accessibility and convenience to the public, expanding the reach and availability of banking services beyond physical branch locations.
Common Misspellings for CASH POINT
- xash point
- vash point
- fash point
- dash point
- czsh point
- cssh point
- cwsh point
- cqsh point
- caah point
- cazh point
- caxh point
- cadh point
- caeh point
- cawh point
- casg point
- casb point
- casn point
- casj point
- casu point
- casy point
Etymology of CASH POINT
The term "cash point" is primarily used in British English, referring to an automatic teller machine (ATM) or a cash dispenser where users can withdraw money from their bank accounts.
The etymology of the term "cash point" is derived from the combination of two words: "cash" and "point".
- "Cash" originates from the Middle French word "caisse" which means "money box" or "chest". This word was subsequently adopted into English, referring to money in the form of coins and banknotes.
- "Point" comes from the Latin word "punctum" meaning "a small dot" or "a point". In this context, it indicates a specific location or place.
Therefore, when combined, "cash point" essentially means a specific location or place where individuals can withdraw or access cash. Over time, this term has become synonymous with the concept of an ATM in British English.
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