How ATM Works

An automated teller machine (ATM) is an electronic telecommunications device that enables the clients of a financial institution to perform financial transactions without the need for a cashier, human clerk or bank teller. On most modern ATMs, the customer is identified by inserting a plastic ATM card with a magnetic stripe or a plastic smart card with a chip that contains a unique card number and some security information such as an expiration date or CVVC (CVV). Authentication is provided by the customer entering a personal identification number (PIN). Using an ATM, customers can access their bank accounts in order to make cash withdrawals, debit card cash advances, and check their account balances as well as purchase pre-paid mobile phone credit. If the currency being withdrawn from the ATM is different from that which the bank account is denominated in (e.g.: Withdrawing Japanese Yen from a bank account containing US Dollars), the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. Thus, ATMs often provide one of the best possible official exchange rates for foreign travelers, and are also widely used for this purpose.

Comments

1. Christopher Harrison would you like to explain to everybody how you were using atm's in the 1980's when they didn't get invented till the very late 1990's?
2. what machines dispense other denominations. i rarely see that
3. fuck you I'm never gonna stop using cash. fuck electronic money, it's not money
4. Sure that's cool but did you change the default operator passcode??
5. Christopher  I  rember  Atms  being  introduced at the mall  and  that  had to be  around  late 90's  early 2000's , long  lines at the mall in front of atm's .
6. 1939? lol google says 1967 nearly 30 years later
7. august in in a  12333333333333333333333333333333333333333333
8. Not remotely to the vault. More like RS232 or serial
9. it's nice
10. كيك بار
11. sir how to my atm wrk in checkng in phne pls vedio
12. hey guys how can i login my mastercard account online
13. that's  correct  more like 1999.
14. anybody knows how to see how much money i recieved and if the bank cut any money from it
15. I used to fill these things. As I remember it, each drawer holds up to 2,000 bills, not 1,000. Typically, the top three drawers had $40k each, and the bottom had $20k. (That's three boxes of twenties, and one of tens.)
16. Impossible to rob an ATM?
    Challenge accepted.
17. ATM... arse to mouth
18. This video was pretty good. However, I saw a joke version this morning that made me laugh! To see it, paste the following YouTube code into the search box 6U92GMYosw4
19. a t m means automated teller machine not automatic
20. job
    
    
    
    
    
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