Automatic teller machine is an electronic telecommunication to perform financial transactions without the need for a human cashier, clerk or bank teller.
On most modern ATMs, 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 data or CVV. Authentication is provided by the customer entering a PIN. Using an ATM, customers can access their bank deposit or credit accounts in order to make a variety of transactions such as cash withdrawals, check balances or credit mobile phones. If the currency being withdrawn from the ATM is different from that in which the bank account is denominated the money will be converted at an official exchange rate. Thus, ATMs often provide the best possible exchange rates for foreign travelers and are widely used for this purpose.
Why we can see the information of our account on the ATM screen. 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 or in the countries where their accounts are held. For the right information, an ATM is typically made up of the following devices. CPU is to control the user interface and transaction devices. Magnetic or chip card reader is to indentify the customer. PIN pad EEP4 is similar in layout to a touch tone or calculator keypad, which manufactured as part of a secure enclosure. Display is used by the customer for performing the transaction. Function key buttons is usually close to the display. Record printer is to provide the customer with a record of the transaction. Vault is to store the parts of the machinery requiring restricted access. PRT support the Printer Mechanism of ATM Ticket Printing.