24-03-2015, 04:05 PM
10-10-2017, 11:11 AM
An ATM, also known in the United States as an ATM (ATM, American, British, Australian, Malay, South Africa, Singapore, India, Maldives, Hiberno, Philippines and Sri Lankan English) Bancomat or Bancomat is a device electronic telecommunication system that allows the clients of a financial institution to carry out financial transactions, in particular withdrawal of cash, without the need of a cashier, clerk or bank teller.
According to the ATM Industry Association (ATMIA), there are now about 3.5 million ATMs installed worldwide. In most modern ATMs, the customer is identified by inserting an ATM plastic card with a magnetic stripe or a plastic smart card with a chip that contains a unique card number and certain security information such as CVVC or CVVC. Authentication is provided by the customer by entering a personal identification number (PIN) that must match the PIN stored on the card chip (if the card is equipped) or in the database of the issuing financial institution.
Using an ATM, customers can access their bank deposit or credit accounts to perform a variety of transactions, such as cash withdrawals, check balances, or credit cell phones. If the currency withdrawn from the ATM is different from the one in which the bank account is called, the money will be converted to an official exchange rate. Therefore, ATMs usually provide the best possible exchange rates for foreign travelers, and are widely used for this purpose.
According to the ATM Industry Association (ATMIA), there are now about 3.5 million ATMs installed worldwide. In most modern ATMs, the customer is identified by inserting an ATM plastic card with a magnetic stripe or a plastic smart card with a chip that contains a unique card number and certain security information such as CVVC or CVVC. Authentication is provided by the customer by entering a personal identification number (PIN) that must match the PIN stored on the card chip (if the card is equipped) or in the database of the issuing financial institution.
Using an ATM, customers can access their bank deposit or credit accounts to perform a variety of transactions, such as cash withdrawals, check balances, or credit cell phones. If the currency withdrawn from the ATM is different from the one in which the bank account is called, the money will be converted to an official exchange rate. Therefore, ATMs usually provide the best possible exchange rates for foreign travelers, and are widely used for this purpose.