An Overview on Automated TellerMachinesThe ATM was a revolution in technology since its introduction in the1960s. It takes...
Since ATM has become a part of our daily life, it is imperative tounderstand the background it holds. You also need to und...
With the changes in the software, the security issue has arisen over theAutomated Teller Machine. People are advised to ke...
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An overview on automated teller machines

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An overview on automated teller machines

  1. 1. An Overview on Automated TellerMachinesThe ATM was a revolution in technology since its introduction in the1960s. It takes care of our routine banking transactions. Now, it hasbecome a part of our daily life. The technology has eased the moneyrelated troubles for the people to a great extent. Going back to the memorylane, the first ATM got installed in London at the Barclay Bank branch. Itwas considered revolutionary. Since its inception, the ATM has becomemore than cash dispensing machines. People are able to carry theirbanking activities in the ATM as well. You can even deposit money andpay your bills through the ATM.
  2. 2. Since ATM has become a part of our daily life, it is imperative tounderstand the background it holds. You also need to understand thetechnical development and the capabilities of the ATM. Find below thepreface to the Automated Teller Machines and its significance to theworld.The history of the ATM goes back to the year 1968 when the first ATMwas introduced to the people that accepted the card. The credit goes to theBarclay Bank in London. But this was not the first incarnation of theATM. The First National City Bank, better known now as the Citi Bank,first launched the version of the ATM known as the Bankograph in itsbranches all over America in the year 1960. The machine could only helpthe people in paying their bills and not withdraw cash. And all this couldbe done without the help of the bank staff. The first version of cashdispensers by Barclay in 1968 regularly swallowed card was vulnerableand not foolproof.These early developments led to the growth of these cash dispensingmachines in North America and Western Europe. In the year 1969, theChemical Bank in the city of New York used magnetically programmedplastic in the machine for the first time. The take up was slow initially as itwas not cost effective. The running cost for the Docutellers were waybeyond human tellers. It proved very costly to the banks. A modifiedversion of the machine was introduced in the year 1970. Since then, theAutomated teller Machines have increased in banks all over the continent.In the present world, the ATMs are very popular all over. The experts haveestimated that there are a huge number of cash dispenser machines percapita in the developed countries such as the UK, the USA, Canada andJapan. They have also revealed in the last decade, that there has been asteady growth in the bank machines in India and China because of theireconomic stability. The number of ATM machines has increased in Indiaand so has the number of functions along with it. Apart from withdrawingof depositing the money in the ATM, you can also perform a lot of otheractivities. With the new facilities available, you can also pay your bills, putcredit on your mobile phone, apply for a check book etc. All the activitiesfor which you had to go to the bank is now aptly done at the ATM.
  3. 3. With the changes in the software, the security issue has arisen over theAutomated Teller Machine. People are advised to keep their pin numbersecret to avoid any fraud. Still, there is room for improvement over thesecurity of the ATM.Contact Us:U.S. CASH ATMs, Inc.7722 West 99th StreetHickory Hills, IIlinois 60457Contact :-Tel : (708) 598-7200Fax : (708) 598-7260Free : (888) 828-4774

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