How ATM (Automated Teller Machine) works ?

ATM stands for Automated Teller Machine but some people say it as All Time Money . It is indirectly the source how we live . We all do not carry cash all the time so to withdraw money ATM machines are placed in small cabins . Where we scan our ATM cards and withdraw money from our account . It provides money all the time everywhere . 

Every ATM card or Debit card through which we can withdraw money has a magnetic strip behind it . First of all when we insert our card it checks the card and reads the magnetic strip behind it . In the strip , all the information is stored in binary form . The ATM machine reads the strip and finds out all the data of the card . BUT before that it finds out that if the card is genuine or original . In some cases , we see that the machine asks to insert the card again as if the machine was unable to read the card or their are some scratches on the strip which makes some data absent . In such cases the card needs to be exchanged . After the authentication of card the machine asks for the PIN(Personal Identification Number) of the card which acts like a password . Then all the information is sent to the bank server and the bank approves it . Then it asks for you about what you need . In some ATMs there are options to deposit cheques , transfer money to other accounts , check account status etc. 

Also see - Must check these features of an android phone !

The money/notes inside the machine are kept in a sorted way . There are some bins of different notes or denominations . Whenever we request for a transaction , the machine takes out the required notes asked by the user . Then there is a scanner which scans each note and checks its thickness and sees that there is one note . But in some case we see that some people get more cash or some get less , this is just some glitch or mistake made by the machine . 

Makar Sankranti

In this way other functions are also done (if available) . Cheques are deposited in the way . If someone deposits money then just the same process takes place that took place while withdrawing but the process starts from the back . Whenever any withdraw or deposit is done your account gets updated immediately . It is because that the network of the ATMs are connected to the bank and and a receipt is printed containing all the information of your transaction or your current account status . Then the bank immediately sends a message or SMS to the user .   

You might also wonder that how the machines in the malls or petrol pumps work . In them also the card is inserted and those machines are also connected on the ATM network . In this also the magnetic strip is read and everything is verified . When we enter the PIN code then the money gets transferred to the account of the mall or petrol pump . A receipt is also given to us .

So this is all the knowledge I had . It is not copied knowledge, its my knowledge thats why it is called AnupKnowledge .


Youtube