(Automatic Teller Machine machine) A banking terminal that accepts deposits and dispenses cash. ATMs are activated by inserting a cash or credit card that contains the users account number and PIN on a magnetic stripe. The ATM calls up the banks computers to verify the balance, dispenses the cash and then transmits a completed transaction notice. The word "machine" in the term "ATM machine" is certainly redundant, but widely used. Rubber rollers move one bill at a time from the currency box (each holds about 2,000 bills) to the dispenser area. A sensor determines if two or more bills are stuck together or if the wrong denomination was pulled and causes them to be inserted into the reject box.
The ATM will service one customer at a time. A customer will be required to insert an ATM card and enter a personal identification number (PIN) - both of which will be sent to the bank for validation as part of each transaction. The customer will then be able to perform one or more transactions. The card will be retained in the machine until the customer indicates that he/she desires no further transactions, at which point it will be returned - except as noted below. The ATM must be able to provide the following services to the customer:
A customer must be able to make a cash withdrawal from any suitable account linked to the card, in multiples of RS.100. Approval must be obtained from the bank before cash is dispensed. A customer must be able to make a deposit to any account linked to the card, consisting of cash and/or checks in an envelope. The customer will enter the amount of the deposit into the ATM, subject to manual verification when the envelope is removed from the machine by an operator. Approval must be obtained from the bank before physically accepting the envelope.
A customer must be able to make a transfer of money between any two accounts linked to the card. A customer must be able to make a balance inquiry of any account linked to the card. A customer must be able to abort a transaction in progress by pressing the Cancel key instead of responding to a request from the machine.
An automated teller machine or automatic teller machine (ATM), also known as an automated banking machine (ABM) in Canada. A Cashpoint (which is a trademark of Lloyds TSB), cash machine. Sometimes a hole in the wall in British English. ATMs are known by various other names including ATM machine, automated banking machine, and various regional variants derived from trademarks on ATM systems held by particular banks.
HARDWARE REQUIREMENTS Processor : Processorx86 Family 6 Model 15 Stepping 13 GenuineIntel~2394Mhz RAM : 512 MB or more Hard disk : 20 GB or more Monitor : VGA/SVGA Keyboard : 104 Keys Mouse : 2 buttons/ 3 buttons
SOFTWARE REQUIREMENTS Operating System : Windows 2000/XP Front end : JavaApplet Database : Ms-Access.
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. In the USA, Luther George Simjian has been credited with developing and building the first cash dispenser machine. There is strong evidence to suggest that Simjian worked on this device before 1959 while his 132nd patent (US3079603) was first filed on 30 June 1960 (and granted 26 February 1963). The rollout of this machine, called Bankograph, was delayed a couple of years.
There are no hard international or government- compiled numbers totaling the complete number of ATMs in use worldwide. Estimates developed by ATMIA place the number of ATMs in use currently at over 2.2 million, or 1 ATM per around over 3000 people in the world.
Although ATMs were originally developed as just cash dispensers, they have evolved to include many other bank-related functions. ATMs include many functions which are not directly related to the management of ones own bank account, such as: Deposit currency recognition, acceptance, and recycling. Paying routine bills, fees, and taxes (utilities, phone bills, social security, legal fees, taxes, etc.) Printing bank statements Updating passbooks Loading monetary value into stored value cards Adding pre-paid cell phone / mobile phone credit. Purchasing
ATM supports voice, video and data allowing multimedia and mixed services over a single network. Provides the best multiple service support Supports delay close to that of dedicated services Able to use all common physical transmission paths like SONET. Cable can be twisted-pair, coaxial or fiber-optic Ability to connect LAN to WAN Legacy LAN emulation Efficient bandwidth use by statistical multiplexing Higher aggregate bandwidth High speed Mbps and possibly Gbps
Flexible to efficiency’s expense, at present, for any one application it is usually possible to find a more optimized technology Cost, although it will decrease with time New customer premises hardware and software are required Competition from other technologies -100 Mbps FDDI, 100 Mbps Ethernet and fast Ethernet Presently the applications that can benefit from ATM such as multimedia are rare The wait, with all the promise of ATM’s capabilities many details are still in the standards process
Based studies on the ATM we hereby conclude that ATM isthe easiest way of depositing and withdrawing money.Transaction is possible any time, that’s why in India somepeople call ATM as “all time money”. If ATM machines areconnected to internet then its possible to do transaction fromany where, 24 hours a days and 365 days a year. With thesecurity of ATM improving it has now become a safe mode oftransaction. Hence it can be concluded that ATM issafe, fast, reliable, convenient, excisable and any timemoney machine.In future the facilities that can be added to ATM machinesare: Filling of bills. Check matches score or sensex ups and downs. Daily news headline.