ATM and its WORKING

DEFINITION of atm:

An electronic banking outlet, which allows customers to complete basic transactions without the aid of a branch representative or teller. 

There are two primary types of automated teller machines, or ATM's. The basic units allow the customer to only withdraw cash and receive a report of the account's balance. The more complex machines will accept deposits, facilitate credit card payments and report account information. To access the advanced features of the complex units, you will usually need to be a member of the bank that operates the machine

An electronic banking outlet, which allows customers to complete basic  ATM is typically made up of the following devices:

CPU (to control the user interface and transaction devices) Magnetic and/or Chip card reader (to identify the customer) PIN Pad (similar in layout to a Touch tone or Calculator keypad), often manufactured as part of a secure enclosure. Secure cryptoprocessor, generally within a secure enclosure. Display (used by the customer for performing the transaction) Function key buttons (usually close to the display) or a Touch screen (used to select the various aspects of the transaction) Record Printer (to provide the customer with a record of their transaction) Vault (to store the parts of the machinery requiring restricted access) Housing (for aesthetics and to attach sign age to) Sensors and Indicators Due to heavier computing demands and the falling price of Personal Computer-like architectures, ATMs have moved away from custom hardware architectures using micro controllers and/or application-specific integrated circuits to adopting the hardware architecture of a Personal Computer, such as, USB connections for peripherals, Ethernet and IP communications, and use personal computer operating systems. Although it is undoubtedly cheaper to use commercial off-the-shelf hardware, it does make ATMs potentially vulnerable to the same sort of problems exhibited by conventional Personal Computers.

Business owners often lease ATM terminals from ATM service providers.

Two Loomis employees refilling an ATM at the Down town Seattle REI The vault of an ATM is within the footprint of the device itself and is where items of value are kept. Scrip cash dispensers do not incorporate a vault.

Mechanisms found inside the vault may include:Dispensing mechanism (to provide cash or other items of value) Deposit mechanism including a Check Processing Module and Bulk Note Acceptor (to allow the customer to make deposits) Security sensors (Magnetic, Thermal, Seismic, gas) Locks: (to ensure controlled access to the contents of the vault) Journalling systems; many are electronic (a sealed flash memory device based on in-house standards) or a solid-state device (an actual printer) which accrues all records of activity including access timestamps, number of notes dispensed, etc. This is considered sensitive data and is secured in similar fashion to the cash as it is a similar liability. ATM vaults are supplied by manufacturers in several grades. Factors influencing vault grade selection include cost, weight, regulatory requirements, ATM type, operator risk avoidance practices and internal volume requirements.