Automated Teller Machines (ATMs): Benefits & Drawbacks
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Automated Teller Machines (ATMs): Benefits & Drawbacks
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UNIVERSE | SCIENCE | TECHNOLOGY on Instagram: "How an ATM Machine Works – Explained Simply 🏧 When you insert your ATM card, the machine reads the chip or magnetic stripe, which contains encrypted information linked to your bank account. Next, you enter your PIN. This PIN is never stored in the ATM—it’s securely encrypted and sent to your bank’s server for verification. Once verified, the ATM connects to the banking network in real time. When you request cash, the bank checks your account balanc
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Entrepreneur’s Archived on Instagram: "An ATM (Automated Teller Machine) allows users to perform basic banking transactions without visiting a bank. It works by connecting to the bank’s central system through a secure network. When a user inserts their debit or credit card and enters a PIN, the ATM verifies the information with the bank. Once authenticated, the user can withdraw cash, check balances, or transfer funds. The machine dispenses cash using a mechanism that counts and delivers notes a
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Entrepreneur’s Archived on Instagram: "An ATM (Automated T…
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How Man Made Things on Instagram: "An ATM's mechanical components work together to store and dispense money efficiently. Cash is stored in secure cassettes inside the machine, each holding a specific denomination. When a withdrawal is requested, the ATM's dispensing mechanism, equipped with rollers and belts, selects the correct number of bills from the cassettes. Sensors count the bills and check for errors, such as double dispensing or damaged notes. Once verified, the bills are moved to the o
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