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How does an ATM machine works? what is the principle of automatic teller machine?

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ATM machine is computerised telecommunication device that provides financial institution and costomers methods of financial tansaction.its full name is autmated teller machine,also known as automatic banking machine(ABM).ATM processing is similar to creditcard processing,except with ATM processing machine centeres uses ATM n/w instead of credit n/w.we nwill have to programe or reprograme your ATM machine with TID(terminal ID number)assigned to your ATM location.ATM transaction can be done via standard telephone line or internet.ATM machine has been setup &
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Anonymous
2 years ago
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Is an electronic device that allow a bank customers to make cash withdrawals and check their account balances without the need for a human teller
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Akintunde abayomi
2 years ago
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My partner is making a template in dreamweaver for joomla site and we are not to sure on how to upload it to it. We appreciate the help, thanks in advance..
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looky
1 month ago
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Very good websites where I can start a blog for free?
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looky
1 month ago
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I an ATM, the customer is identified by inserting a plastic ATM card with a magnetic stripe or a plastic smartcard 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). An ATM is typically made up of the following devices:A CPU to control the user interface and transaction devices, a Chip card to identify the customer, A PIN pad, a Secure cryptoprocessor, a display, function keys to select the various aspects of the transaction,a 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 signage to. With the help of these devices it reads and identifies the customer and delivers the money.
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Anonymous
5 years ago
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An automated teller machine (ATM), also known as automatic banking machine (ABM), Cash Machine, or Cashpoint, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public space 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, credit card cash advances, and check their account balances as well as purchase prepaid cellphone 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 a wholesale exchange rate. Thus, ATMs often provide the best possible exchange rate for foreign travelers and are heavily used for this purpose as well.


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Anonymous
4 years ago
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An automated teller machine or automatic teller machine(ATM) is computerised telecommunication device that provides financial institution,customers a method of financial transaction in public space.
Using an ATM customers can access their bank accounts in order to make cash withdrawl and check their account balances.On most modern ATM the customers identifies him or herself by inserting a plastic card with a magnetic strip or a plastic smart card with a chip that contains the customers card number.ATM is made up of CPU to control the user interface,chip card to identify the customer. A pin pad, function keys to select various aspects of transaction, a record printer to provide the customer with a record of their transaction. With the help of these devices it reads and identifies the customer and delivers the money.

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yb
2 years ago
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Automatic Teller machine
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VInu Joseph
2 years ago
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ATM is an automated teller machine.an ATM machine is programmed with a terminal identification number along with other identifying.lets the cardholder's bank(the issuer) known where the transaction is taking place. The ATM connects to the ATM networks through a processing center and then to the cardholder's bank.If there are sufficient funds in the ATM cardholder's account for the withdrawal request,the transaction will be complrted. Most of the large banks are issuing the ATM cards.
most ATM machines can also be used if someone, just wants to check their accout balance or transfer funds before or after withdrawing cash.There is no surcharge fee charged by ATM machines for non cash withdrawl transactions.
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Anonymous
2 years ago

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machine (16)   card (30)   customer (5)   bank (22)   number (27)   cash (14)   account (25)   plastic (5)   financial (8)   automatic (5)  

 

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