Information Machine: The Purpose Of An Automatic Teller Machine

" The purpose of the system - what it does, how it's used

An ATM (Automatic Teller Machine) is an electronic machine, created to deposit money, check your account balance and withdraw money out of your account without the assistance of a bank representative. An ATM is used through the use of an ATM card which is a payment card issued by a financial organisation which allows the customer to access ATM's or ATM's are also operated through the use of other financial cards such as credit or debit cards. The main purposes of an ATM are known to be withdrawing cash or depositing money. Getting things done is quick and easy if you know how to use an ATM. Operating an ATM including a few simple steps, for example when cash is to be withdrawn steps

The entire bottom portion of most small ATMs is a safe that contains the cash.

" The changes that have occurred as a result of this information system - how were these information tasks performed in the past (before the computer technology), how has information technology changed the way things are now done.

The very first ATM was created by John Shepherd-Barron Donald Wetzel. The very first ATM was invented by John Shepherd-Barron. Shepherd Barron, had a random thought where he realised that " if vending machines can dispense chocolate, then why can't they dispense money?". He addressed the idea to Barclays, a London bank, who immediately loved the idea, and Shepherd-Barron's first ATM was installed in a branch on Enfield High Street not long afterward.

Unlike modern ATMs, Shepherd-Barron's did not use plastic cards. Instead, it used paper vouchers printed with radioactive ink so that the machine could read them. The customer entered an identification code and took her cash-a maximum of £10 at a time. The utilitarian machine gave fixed amounts of money, using special vouchers .There was no way for a customer to transfer money between accounts and bank employees tabulated the transactions manually at the end of each

Banks used to staff dozens of tellers at each branch to handle routine transactions; Now, many staffers work on other tasks, such as sales or account maintenance.

Modern ATMs allow many distinctive operations however, ATMs still consist of both advantages and disadvantages which include:

Advantages: o You can withdraw cash at any time, day or night. The banks don't need to be open. o ATMs offer the convenience of multiple locations. You can withdraw cash at any bank that is part of the system to which your ATM card is linked. o Your ATM card is protected by a PIN, keeping your money safe. o You don't need to fill out withdrawal and deposit slips as is required at the bank. o ATMs are faster than going to the bank-no long lines. o You can withdraw cash at ATMs in foreign countries

Disadvantages: o ATM may be off-line (system unavailable). o You may forget your PIN