How ATM Works

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An automated teller machine (ATM) is an electronic telecommunications device that enables the clients of a financial institution to perform financial transactions without the need for a cashier, human 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 date or CVVC (CVV). Authentication is provided by the customer entering a personal identification number (PIN).

Using an ATM, customers can access their bank accounts in order to make cash withdrawals, debit card cash advances, and check their account balances as well as purchase pre-paid mobile phone credit. If the currency being withdrawn from the ATM is different from that which the bank account is denominated in (e.g.: Withdrawing Japanese Yen from a bank account containing US Dollars), the money will be converted at an official wholesale exchange rate. Thus, ATMs often provide one of the best possible official exchange rates for foreign travelers, and are also widely used for this purpose.

Comments

Qayoom Ali says:

thanks for the atm scientist and i like your explanation

A Bug says:

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Mark Santucci says:

Christopher Harrison would you like to explain to everybody how you were using atm's in the 1980's when they didn't get invented till the very late 1990's?

Michael King says:

what machines dispense other denominations. i rarely see that

Michael King says:

fuck you I'm never gonna stop using cash. fuck electronic money, it's not money

TTilford says:

Sure that's cool but did you change the default operator passcode??

Mark Santucci says:

Christopher  I  rember  Atms  being  introduced at the mall  and  that  had to be  around  late 90's  early 2000's , long  lines at the mall in front of atm's .

sean123654 says:

1939? lol google says 1967 nearly 30 years later

Mark Santucci says:

august in in a  12333333333333333333333333333333333333333333

BenjyHD says:

Not remotely to the vault. More like RS232 or serial

scorpian GHOST says:

it's nice

mazen ahmed says:

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Ramesh Gandla says:

sir how to my atm wrk in checkng in phne pls vedio

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