Ever wondered how does an atm machine works?

How Does an ATM Machine Works?

Have you ever wondered how does an ATM machine works? I mean how does it pick up the exact amount , notes , decline , incorrect/correct pin , read your card , swallow , reject and if you did not know ATM stands for Any Time Money lol just kidding

The World today is full of technological advancements. The cost of living is getting higher from a day-to-day basis. There are new trends that come and go in just a day or two. Almost every person wants to live an easy life that is full of comfort and convenience. This is the main reason why ATM machines become very famous in the industry because all transactions here are made fast. You can easily access your money without going to the bank. You can even use your cards for paying the bills in shopping malls and other departmental stores without using the hard cash The installation of ATM machine can bring a lot of benefits for your business.

Did you know the machine has a sensor and electric eye , the sensor evaluates the thickness of each bill and electric eye counts each bill as it exits the dispenser

Once an user inserts his/ her debit card or credit into the Automated Teller Machine, it scans and encodes the data given on the magnetic stripe on the back of the card. The magnetic strips encodes the unique card number of the user, along with the card’s date of expiry and the user’s PIN number. Once the card is swiped, the ATM asks you to provide your PIN to authenticate the authority of the user to access the funds in his/her bank account.

Once your PIN is verified, the machine communicates with the user’s bank to retrieve the account information of the user. Soon after this, the cash dispenser of the ATM gives out the required amount of cash to the user from cash cartridges located in its internal vault.

The ATMS are linked to a group of colossal inter-bank network. An ATM cannot provide access to bank accounts that are not registered on the inter-bank networks. In order to distribute data among one another, inter-bank networks use central computers, internet access, and phone lines so as to facilitate smooth financial transactions.