What Is ATM? Complete Information About ATMS

In today's time, the atm card occupies a small space 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 by the use of atm card, but nowadays, apart from the money laundering, there are other financial services which can be made available through this small card.

Next we will learn about atm card and its history and use. At the same time, try to give you some precautions and security information related to the card.


What is ATM? Complete Information About ATMS.



English meaning of ATM automated teller machine, in short form it is called ATM. If we want to know in pure Hindi, it will be called automatic calculator machine. Modern ATM machines can do almost all the work that the bank teller or bank cashier/clerk does. For example, money deposits, deposits, bill payments, mobile recharges, etc.

The bank atm card was first used by citibank customers in the us in 1961, but initially the customers did not show 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 time the experiment was successful and after that gradually the technology spread all over the world.

HSBC bank set up the first atm in bombay in india in 1987. By the year 2000, this technology could only be used in india, but after that, with the arrival of private banks, it spread rapidly and reached the masses. Today this facility is available to the customers of the smallest bank.



How does the ATM work? – How ATM works?

This question must have come to the mind of the curious, how does the atm network work? how does it account for crores of bank account holders and their transactions? let's understand.

In the beginning, ATM machines were connected to the bank's data server by telephone line, nowadays the internet is connected by lease line or VPN network. ATM machines work as a data terminal machine in their own right. Where the customer can make transactions after entering his card and secret PIN number.

The ATM machine is equipped with 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 put your card, the machine returns the card back to you through the same route after reading it.
  2. Keypad – Keypad is the medium to verify your identity by entering the PIN number and selecting the service.

ATM Output Devices

  1. Debit Card – This type of card is linked to your bank account, every transaction is according to the amount available in your account.
  2. Credit Cards – Credit cards are also issued by banks or other financial institutions, a type of borrowing that is repaid by monthly payment after use. Use credit cards carefully.
  3. Card Issuers – There are mainly five large card issuer companies whose names are as follows: American Express, Mastercard, VISA, Discover and RuPay.

Types of Cards Used in ATMs

RuPay card is the government of India's own brand. Which is acceptable almost everywhere.

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


Use of ATM

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

Facilities like life insurance payment, cheque book and FD are also available at ATMs.


Precautions Related To ATM Use – How To Withdraw Money From ATM?

  • 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 is only accessible to you.
  • When you go to the atm room, make sure that no one else is present there.
  • Look carefully at the card reader and keypad of the atm machine, is there no incoherent cover on them?
  • Do not share any otp or other messages received from your bank with anyone.
  • After the withdrawal of money, count the notes in the atm room itself, if there is any error, inform the bank soon.
  • Do not indicate the atm card number, expiry date, cvv code, otp or pin number on any phone call. The banks rule that they will never ask you this information on the phone.


Wrapping Up

An atm is a facility that benefits both you and the bank, gives you control of your transactions in your own hands and gives the bank some rest from the work of regular deposits and liquidation related transactions of customers. If used carefully, there are no disadvantages of ATMs and only the advantages are the advantages.

Questions and suggestions related to your atm are invited, please give feedback in the comments below and also share this article.

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