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How Does an ATM Work
Overview of Automated Teller Machines (ATM)
Customer Using ATM
Automated Teller Machines (ATM) are computerized machines that allow customers to conduct
basic banking transactions without an attendant or bank teller. ATMs are generally located in
public places, such as shopping malls, airports, restaurants and gas stations. They provide a
convenient way for people to deposit money, withdraw money or check account balances without
going to an actual bank. In order to use an ATM, a customer must insert a plastic card with
account information encoded on a magnetic strip and enter a personal identification number.
These procedures prevent unauthorized users from conducting transactions and ensure that
customer account information is kept private.
How ATMs Work
ATM machines are connected to interbank networks, which are computer networks connecting
different banks around the world. The interbank networks allow banks to electronically share
account information about customers. This enables customers to use ATMs from different banks
to access funds in their accounts. The two largest interbank networks are PLUS and Cirrus,
although several smaller networks operate as well. Before a transaction can be processed, the
ATM machines must receive authorization from the customer's native bank, such as confirmation
that the customer has sufficient funds in his account to permit cash withdrawal. Interbank networks
allow this authorization process to take place in seconds. Banks charge non-native ATM users a
fee to defray the cost of these transactions.
Components of an ATM
Diagram of an ATM Machine
ATMs are advanced computer systems that contain sophisticated hardware and software. All
ATMs include a central computer that processes transaction information, a magnetic reader to
identify customers, a numerical keypad that allows customers to enter personal identification
numbers, an electronic display and a functional keypad or touch screen. ATMs also include a
standard software operating system, such as RMX, OS/2 or Microsoft Windows. The software
system controls the AMT's interaction with the interbank networks and allows the central computer
to process financial transactions. Finally, ATMs contain a series of cash cartridges (which can be
removed and re-filled) and a vault, which dispenses cash and accepts deposited cash and checks.
Vaults are maintained and monitored by bank personnel to ensure that deposited funds are
credited to customer accounts. It is usually not possible to deposit funds in a non-native ATM.
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