Understanding ATMs: Functions, History, and Usage Explained
investopedia.com
Understanding ATMs: Functions, History, and Usage Explained
Discover how ATMs, or automated teller machines, perform cash withdrawals, deposits, and transfers, and explore their functions, history, types, and fees.
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ExplainScience on Instagram: "An ATM (Automated Teller Machine) works by connecting the user directly to their bank through a secure electronic network. When you insert or tap your ATM card, the machine reads the card details and asks for your PIN to verify your identity. Once the PIN is entered, the ATM sends this information to the bank’s server for authentication. After verification, you can select transactions like cash withdrawal, balance inquiry, or fund transfer. For cash withdrawal, the
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ExplainScience on Instagram: "An ATM (Automated Teller Machine) works by connecting the user directly to their bank through a secure electronic network. When you insert or tap your ATM card, the machine reads the card details and asks for your PIN to verify your identity. Once the PIN is entered, the ATM sends this information to the bank’s server for authentication. After verification, you can select transactions like cash withdrawal, balance inquiry, or fund transfer. For cash withdrawal, the
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Follow these ATM safety tips to avoid the risk of losing your hard-earned savings. To report any case of cyber fraud or cybercrime to the National Cyber Crime Reporting Portal, dial 1930 immediately or visit www.cybercrime.gov.in #CyberJagrookta #ATMSafety #BandhanBank | Bandhan Bank
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Follow these ATM safety tips to avoid the risk of losing your hard-earned savings. To report any case of cyber fraud or cybercrime to the National Cyber Crime Reporting Portal, dial 1930 immediately or visit www.cybercrime.gov.in #CyberJagrookta #ATMSafety #BandhanBank | Bandhan Bank
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ExplainScience on Instagram: "An ATM (Automated Teller Machine) works by connecting the user directly to their bank through a secure electronic network. When you insert or tap your ATM card, the machine reads the card details and asks for your PIN to verify your identity. Once the PIN is entered, the ATM sends this information to the bank’s server for authentication. After verification, you can select transactions like cash withdrawal, balance inquiry, or fund transfer. For cash withdrawal, the
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The History Source on Instagram: "ATM machines, debuted in the late 1960s. But many of these early test versions of the “automated bank kiosk” involved human tellers on the other end, like this 1969 prototype. However by the 70s the technology began to rapidly advance, shifting to the fully automated machines we still use today, thanks to improved computer capabilities and innovation. #history #1960s #banking #didyouknow #60sstyle #historyfacts #technology #innovation #60s #retro #oldschool #bac
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