What is an ATM? Complete information about ATM:

 

What is an ATM? Complete information about ATM:


ATM information, usage rules and precautions:

In today's time, ATM card occupies a small place in everyone's pocket, this small piece of plastic is like a key, using which we can withdraw money from our bank account. This is only a basic service which is possible using ATM card but nowadays there are other financial services besides withdrawing money which can be provided by this small card.

Next we will learn about ATM Card and its history and usage. Also try to give you some card related precautions and security information.

MEANING OF ATM:

The ATM is Automated Teller Machine, in short form it is called ATM. If we want to know in pure Hindi, then it will be called automatic calculator machine. Modern ATM machines can do almost all the tasks that a bank teller or bank cashier / clerk does. For example, money withdrawal, money Citibank customers in the US in 1961, but initially the customers did not show deposit, bill payment, mobile recharge etc. The first bank ATM card was used by much interest in it and after some time the project went into cold storage.

The second and successful experiment was carried out by Barclays Bank in London in 1967 and this experiment was successful and gradually the technology spread worldwide after that.

HSBC Bank established the first ATM in India in 1987 in Bombay. By 2000, this technology could be used in India, but after that with the advent of private banks, it spread rapidly and could reach the people. Today this facility is available to the customers of the smallest bank.

How ATM works?

This question must have come in the curious mind that how does the ATM network work? How does the bank keep account of crores of bank account holders and their transactions? Let's understand Initially,

ATM machines were connected to the bank's data servers by telephone lines, nowadays, they itself acts as a data terminal machine. Where the customer can transact after are connected through internet lease lines or VPN networks. The ATM machine entering his card and secret PIN number.

ATM machine has 4 types of output devices and 2 types of input devices, which are described as follows.

ATM Input Devices:

1. Card Reader - This is the place where you insert your card, the machine returns the same route after reading the card back to you.

2. Keypad - Keypad is the means of verifying your identity by entering a PIN number and selecting the service.

 ATM Output Devices

1.   Display or Monitor - This is the display screen of the ATM on which you can see the details of your transactions and all other operations.

2.   Receipt Printer - The details of your transaction are written and printed on paper receipt and it leaves from here.

3.   Speaker - Nowadays a new ATM machine also has a speaker, which proclaims the information related to each of your steps in sound form. Probably this facility has been started keeping in mind the disabled people. Apart from this, numbers are also written in Braille script on the keypad.

4.   Cash Withdrawal Gate - This is the most important place from where the crafty notes originate.

Types of ATM cards:

1.Debit Card - This type of card is linked to your bank account, every transaction is done according to the amount available in your account.

2.Credit Card - Credit cards are also issued by banks or other financial institutions, it is a type of loan that is repaid by monthly payment after use. Use credit cards carefully.

3.Card issuers - There are mainly five major card issuing companies, namely American Express, MasterCard, VISA, Discover and Ru Pay.

The Ru Pay card is the Indian government's own brand. Which is acceptable almost everywhere.

Banks or issuing financial institutions may also charge an annual fee in lieu of issuing various cards, while some cards are issued for free.

 Usage of ATM:

Money withdrawal, balance checking and mini statement are the main services by ATMs but it is not the only limited service that you can get through ATMs. Apart from this, money can also be deposited from ATM as well as you can recharge your mobile etc. Facility like payment of your bills, fund transfer, loan application etc. can also be found through ATM.

Precautions related to ATM usage - How to withdraw money from ATM?

1. Always keep the PIN number (secret code) of the ATM safe, if you want to keep it in writing then you should take care that it should only be accessible to you. 


2. When you go to the ATM room, make sure that no one else is present there. 


3. Look at the card reader and keypad of the ATM machine carefully, is there any unusual cover on them?

4. Do not share any OTP or other messages received from your bank with anyone.

5. After withdrawing money, count the notes in the ATM room itself, if there is any error, inform the bank soon. 

6. Do not mention ATM card number, expiry date, CVV code, OTP or PIN number on any phone call. The rule of banks is that they will never ask you this information over the phone.

 Conclusion

An ATM is a facility that benefits both you and the bank, gives you control of your transactions in your hands and gives the bank a little rest from the work of regular deposit and withdrawal transactions of customers. If used carefully, ATMs have no disadvantages and only advantages are benefits.

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