Full Form of ATM
ATM stands for Automated Teller Machine. It is an electronic machine which used to withdraw money from the account. Nowadays ATM is more advance we do not withdraw money from but deposit cash, cheque deposit, balance inquiry, and bill payment.
ATM is more handy because any person use bank service at any time even on holiday. We do not need to go bank office to deposit cash and withdraw money.
Do you know Full Form of VISA
How To Use ATM.
To use ATM we need an ATM card its a plastic card. In an ATM card, a smart chip and magnetic strip are installed when we insert the ATM card into the ATM machine then ATM machine-read chip data and ask ATM Pin to enter after successfully enter ATM Pin we see ATM functionality like withdraw money, fund transfer and change pin, etc. ATM Pin, it’s 4 digits or 6 digits Pin like 0000 or 000000. Enter the ATM Pin and finish the final transaction.
Uses Of ATM
- Withdraw Money from bank account.
- Deposit Money into bank account
- Fund transfer
- Deposit cheque
- Bill payments
- Mini bank account stantments
- ATM Pin change
Parts of ATM
In ATM divided into two parts Input and Output.
Input Parts divided into two parts card reader and keypad.
Card reader: Card reader is an input device that reads ATM smart chip data. Smart chip and card reader communicate with each other after successful communication data pass-through server and person use the ATM machine.
Keypad: Keypad use navigates and enters ATM pin when using the ATM machine.
Monitor: Monitor use to display information regarding the bank account.
Speaker: It uses audio feedback.
Cash Collection: After a successful transaction, we collect money through the cash collection part.
Printer Receipt: It provides printed receipts like transaction id, remaining balance, and withdrawal money.