ATM

The automatic teller machine was invented by john shepherd-Barron in year of 1960.

Features of Automatic Teller Machine:

• Transfer funds between linked bank accounts
• Receive account balance
• Prints recent transactions list
• Change your pin
• Deposit your cash
• Prepaid mobile recharge
• Bill payments
• Cash withdrawal
• Perform a range of feature in your foreign language.

Input Devices:

•       Card reader
•       Keypad

Output Devices:

• Speaker
• Display Screen
• Receipt Printer
• Cash Dispensor
• Cash Depositor

The automatic teller machine (ATM) is an automatic banking machine (ABM) which allows customer to complete basic transactions without any help of bank representatives. There are two types of automatic teller machines (ATMs). The basic one allows the customer to only draw cash and receive a report of the account balance. Another one is a more complex machine which accepts the deposit, provides credit card payment facilities and reports account information.

It is an electronic device which is used by only bank customers to process account transactions. The users access their account through special type of plastic card that is encoded with user information on a magnetic strip. The strip contains an identification code that is transmitted to the bank’s central computer by modem. The users insert the card into ATMs to access the account and process their account transactions. 

The cash dispenser is a heart of the ATM. This is a central system of the ATM machine from where the required money is obtained. From this portion the user can collect the money. The duty of the cash dispenser is to count each bill and dispense the required amount. 

A complete record of each transaction is kept by the ATM machine with help of an RTC device.

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