Technology Used in ATMs, Debit & Credit Cards

Automated Teller Machine (ATM)

Automated Teller Machine (ATM) is a computerized machine that provides the customers the facility of checking balance, withdrawing and transferring the funds without visiting the branch of the bank

Important Points to Remember:

Technology Used: Broadband Integrated Service Digital network (BISDN)

Operating systems used in ATMs Primarily: Windows XP Professional and Windows XP Embedded

Communication Mode: Both Data and Voice

Operates on: layer 2 in OSI Model (Data Link Layer)

Connection Mode: Point-to-Point

Size of ATM Cells: 53 Bytes (48 bytes of data and 5 bytes of header information)

Facilities available at ATMs

• Account Information
• Cash Deposit
• Regular bills payment
• Purchase of Re-load Vouchers for Mobiles
• Mini/Short Statement
• Loan account enquiry

There are two types of cards supported by ATM

• ATM Debit Card
• Credit Card

ATM Debit Card:

ATM Debit Card is card given by bank to access your account easily using a machine called Automated Teller Machine (ATM). Debit cards can be used for shopping purposes, without carrying the money. You can use Debit cards while purchasing, but you must have money in your account. Purchased amount will be deducted immediately from your account.

Advantages:

• No need to carry money with you
• You can use it for shopping purpose
• No need of filling withdrawal and deposit slips
• Money Security: No one can access it without knowing PIN Number
• You can access your account from any corner of the world, no need to visit bank branch
• Availability (24*7 Services)

Disadvantages:

• Sometimes you may face Server-Down Problem
• Forgetting of Pin Number
• Fees charged for using card in different bank may be expensive
• Limitation of cash withdrawal

Credit Card:

Credit card is different from debit card, in debit card you must have money for using it. But for using credit cards, its not necessary. If you use credit card for purchasing purposes it does not deduct your money immediately.

Bank will pay the vendors and sends the bill to the customer every month.