These days people are more interested in withdrawing money from ATM than withdrawing money from the bank, and it is also right to do so because one often has to wait for long lines in the bank. Today’s era has become digital, due to which people do transactions online. But in rural areas, people are still reluctant to do online transactions. In such a situation, people need cash money, for which they have to go to the bank or ATM. But do you know what is ATM and how it works. If you know about it then it is a good thing and if you do not know then in today’s post you will get all the information related to ATM.
Banks give ATM cards to provide convenience to the people, but still some people shy away from withdrawing money from ATM and are not able to take advantage of this facility. Perhaps they feel that while withdrawing money from the ATM, they should not make some mistakes so that all their money disappears. We should not be afraid to withdraw money from the ATM, but some precautions should be taken. Further in this post, we will know in detail all the facts related to ATM, so read this post carefully.
What is ATM
ATM is an electronic device which is used by the account holder to manage his/her account like checking balance, sending money, withdrawing money, printing transactions etc. The speed of transaction in ATM is very high which makes the transaction successful in few seconds. And you don’t have to wait for long lines at the bank.
Full Form of ATM
The full form of ATM is Automated Teller Machine.
There are mainly two types of ATMs, the first one is used for basic tasks like withdrawing money, viewing transaction reports. The same other is used for some complex tasks like depositing money, viewing credit card information, recharging.
History of ATM
The inventor of ATM or Automated Teller Machine was John Shepherd Barron who did it in 1960. But ATM was first used by Barkeley Bank of London. John Shepherd Barron was born on 23 June 1925 in Shillong, Meghalaya, India.
Necessity is the father of invention, so the first ATM machine in India was installed in 1987 by Hong Kong and Shanghai Banking Corporation (HSBC) in Mumbai. Later gradually it was installed in different cities of the country and today you will get ATM machine in all the big cities from small city to big cities.
John Shepherd Barron had given 21 years of his career in making ATM, then he got success. Despite this, no bank was ready to install an ATM because the matter of money was considered very sensitive, so leaving money in a machine was not less than any risky.
How Does an ATM Work
ATM is a type of data terminal to which two input devices and 4 output devices are connected.
- Input Device – Card reader, Keypad.
- Output Device – Speaker, Display Screen, Receipt Printer, Cash Depositor.
- Input devices used in ATM
Input Devices Used in ATM
It is an input device which is installed in the ATM machine to read the data of any card. There is a magnetic strip on the back side of the ATM card, which is related to the card reader. When an ATM card is swiped, the card reader reads the user account information through the magnetic strip attached to the card and then does the transaction.
When the card is inserted into the ATM machine, it asks for some personal information of the customer like Pin Number, Amount. All this information is heavy by the keypad. There are 48 keys in this keypad.
Output Devices Used in ATM
Transaction information happening in the ATM machine is received by the audio speaker in the form of output.
The transaction process in ATM is visible in the step by step display screen. LCD is used in these display screens.
When the transaction is completed in the ATM machine, a print comes out from the receipt printer in which the account holder’s personal information is written like – Withdrawal Amount, Available Balance, Last Transaction with day and date.
Cash Dispenser is called the central part or heart of the ATM machine. When the transaction becomes successful, the user gets money from the cash dispenser itself. If a note is twisted, it sends it to another block and then the user after counting the note. Lets it. This whole process happens very fast.
How to Withdraw Money From ATM
Now we know how to withdraw money from ATM because the process of doing transactions in ATMs of different banks is slightly different. Because of this some people have trouble using it.
- First of all, you go to the nearest ATM machine, there you will see a slot to insert the card in the ATM. In which enter your ATM card i.e., Debit card. By inserting the ATM card in the ATM machine, it has to be withdrawn in 1-2 seconds or after the withdrawal money in the ATM machine of some banks, the card itself comes out.
- Now in the next step you have to choose your preferred language like Hindi, English or other.
- After choosing the language, you have to OK by entering your 4 or 6 digit PIN number. Keep in mind that when you enter the pin, do not show it to anyone or cover it with your hand and enter the pin.
- After the PIN is verified, options for doing transactions will open in front of you like- Fast Cash, Cash Withdrawal, Mini statement, Balance Enquiry.
- If you want to withdraw money then click on cash withdrawal option or if you want to check account balance then click on balance inquiry option.
- After clicking on the cash withdrawal option, you will get two options Saving account and Current account. The type of account you have has to be selected.
- Now you will get the option to fill the amount. Put the amount you want to withdraw there. Keep in mind that always put the amount in multiples of 100 in the ATM like- 100, 200, 300, 500, 2000. If you put such amount then like 150,550, 1150,2050 etc., then your money will not be withdrawn.
- After entering the amount, confirm it by clicking Yes or No.
- As soon as you click on Yes, the transaction will start and your money will come out.
- Now you will be asked about the transaction print from the account. If you want to take print then click on Yes, otherwise click on NO.
- Now your print will also come out, after which you must press the cancel button to protect the account.
What Precautions Should be Taken While Using ATM in 2022
If you are an account holder then you will have to protect your ATM card yourself. Now know how you can avoid ATM fraud. Because the bank does not take responsibility for it or will take some action in it after much effort.
- You have to protect your ATM card in the same way as you handle money. If your card is simply lost due to any reason, then the chances of money being fraudulently increase from your account.
- Never share your ATM PIN with others. For caution, keep changing the PIN from time to time.
- Nowadays telephonic fraud is going on, by calling people and asking them for ATM PIN. You have to avoid all this even if they claim to be an officer of the bank. Because no bank asks you for PIN code.
- Apart from the phone, if you get any message or email, then you do not have to give your ATM card information.
- If you do online shopping, recharge or send money, then do it from Genuine Website only. Avoid giving your card information on any website in the greed of offers.
- If you go to cyber café or run your computer or mobile using public Wi-Fi then be careful. From here your card information can be stolen and money can be withdrawn.
- When you go to the ATM to withdraw money, do not give your card to anyone there to withdraw money. And when you enter the PIN, make sure that no one can see your PIN.
- If the card is stolen or lost, get the card blocked from the bank immediately by registering a report in the police station.
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