What is ATM? Part of ATM. benefits of using an ATM_cautation ATM

Описание: Dear learner, we are going to discuss about Automated teller machine. Let’s, go. An automated teller machine (ATM) is an electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller. Another word, ATM stands for Automated Teller Machine. An ATM is an electronic machine that is used for financial transactions. ATMs allow customers to withdraw cash from their respective bank accounts without them visiting their bank branch. Now day we can withdraw money without ATM card. But we can use QR code for withdraw our money. New IT device add a payment service and mobile topup also by using ATM machine.
Generally Basic Part of The ATM divided into two part are input device and output device. In input device there are two input device card reader and Keypad. Let’s study details. First, Card reader The card reader captures the account information stored on the magnetic stripe on the back of an ATM/debit or credit card. The host processor uses this information to route the transaction to the cardholder's bank. Second, Keypad The keypad lets the cardholder tell the bank what kind of transaction is required (cash withdrawal, balance inquiry, etc.) and for what amount. Also, the bank requires the cardholder's personal identification number (PIN) for verification. Federal law requires that the PIN block be sent to the host processor in encrypted form. Third is deposit slot; we can deposit out money by the help of deposit slot.
In output device there are speaker, Display screen, Receipt printer and case dispenser. First, Speaker - The speaker provides the cardholder with auditory feedback when a key is pressed. We know all the processing by audio nowadays. Second, display screen - The display screen prompts the cardholder through each step of the transaction process. Leased-line machines commonly use a monochrome or color CRT (cathode ray tube) display. Dial-up machines commonly use a monochrome or color LCD. Third, Receipt printer - The receipt printer provides the cardholder with a paper receipt of the transaction. Four, Cash dispenser - The heart of an ATM is the safe and cash-dispensing mechanism. The entire bottom portion of smallest ATMs is a safe that contains the cash.
The various benefits of using an ATM card are: First, Serves as fund for emergencies – During an emergency, ATM cards allow you to withdraw cash from your account. Hence, an ATM card can come in handy in emergencies when you need immediate funds. Second, Helps you set a budget – Unlike credit cards, an ATM card will debit your money from your bank account immediately after you have used it. Hence, you will be able to set a budget that you will be spending. Third, Easy to get - Having a bank account is the only need for receiving a ATM card, and it's also the most crucial. Anyone with a minimal deposit can open a bank account. Hence, the only need for using an ATM card is having a bank account connected to the card.
Forth, Easy to use - Using ATM cards are really easy. The payment can be made right away because it is taken immediately out of your bank account, where the money already is. That takes far less time than waiting for a credit transaction to complete or worrying about having enough money in your account to meet your expenses. Transactions are quick, simple, and handy when using ATM cards. Fifth, Protected - A four-digit PIN (Personal Identification Number) that you choose is used to protect ATM cards. When using your ATM card to make practically any purchase, you must have this PIN. It greatly increases your sense of security about stealing. Every time a transaction completes, you also get a notification, doubling-checking the transaction. Moreover, freezing these cards is quite simple and rapid. Hence, if you lose it, you can quickly avoid damage by freezing it.
Here are a few things you should remember while using ATM card. First, Your ATM card should always be kept secure. Your card should be kept in a card sleeve to safeguard the magnetic strip. Second, never use your phone numbers or date of birth as a PIN. Third, protet your PIN, but never write it down or keep a written note in your bag or wallet. Fourth, look to see whether the ATM has any associated fraudulent devices. Do not use the ATM and, if at all possible, notify the bank or financial institution right away if it appears to have any modifications to the card slot or PIN pad. Fifth, keep receipts away from the ATM. Compare each transaction you make in your online banking or on receipts to the monthly account statements. Sixth, even if you're having problems or your card is stuck, never let a stranger help you with an ATM transaction. Seventh, never divulge your PIN to a third party. Never provide this information to banks, businesses, or other financial entities.
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