Automated teller machine, or ATM, is the instant money giver which is simply irresistible.
Automated Teller Machine, popularly known as ATM, is a device used for instant cash withdrawal. It is one of the advanced forms of telecommunication machines. For accessing this machine, you only need to have a debit card or an ATM card with a ‘Visa’ or ‘Master Card’ logo. Nowadays all the countries are providing their citizens the ATM facility. Not only you get to reap the benefits of this machine in your country but with their unique networking system, you also get the option of using them anywhere in this world.
For using ATM, you get an ATM card which is encrypted with a magnetic strip. The magnetic strip contains certain codes. The codes used for encryption are unique for unique customers. Customers get unique PIN number at the time of issuance of ATM card. So whenever customers access the ATM with the PIN numbers given to them, the machine starts performing its operation. It identifies the PIN number entered by the customers with the code that has been encrypted in the name of customer. If the code and the PIN match, then you get a lovely screen of convenient transaction and if they remain unmatched, then you get the message – ‘Invalid PIN Number’.
ATM is composed CPU, monitor, chip reader, special PIN tracker, some user friendly keys and last but not the least, Windows operating system. Windows OS is mostly used in most of the ATMs, but now, Linux has also entered into this business and it’s gradually becoming popular.
If you want instant service with safe and secured transaction, then ATM is just for you. But, you must keep your cards safely. If the cards are lost, then you may get into trouble and lose all the cash that you have into your account. But, despite all the negatives ATM is worth using.
Original ATM was invented by Luther George Simjian of New York City.
Published in: Consumer Information