ATM. Short Notes on Automated Teller Machine (ATM). What is ATM? Uses of ATM.
ATM – Automated Teller Machine is an electromechanical device that permits authorized users to withdraw cash from their accounts and/or access other services such as Balance enquries, transfer funds or accept deposits. ATMs may be operated either online with real-time access to an authorization database or offline.
In an ATM, the customer is identified by inserting a plastic ATM card with a magnetic stripe or a plastic smart card with a chip that contains a unique card number and some security information such as an expiration date or CVVC (CVV). Authentication is provided by the customer entering a personal identification number (PIN).
Most ATMs are connected to interbank networks, enabling people to withdraw and deposit money from machines not belonging to the bank where they have their accounts.
- In ATM, What does A stands for ? – a) Any b) Automatic c) Automated
- In ATM, What does T stands for ? – a) Time b) Transfer c) Teller