Automated Teller Machine

Rahul Singh

ATM ???
An Automated Teller Machine or Automatic teller machine (ATM), also known as a Cashpoint, Cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial instituion with access to financial transactions. Invented by John Shepherd-Barron, the first ATM was introduced in June 1967 at Barclays Bank in Enfield, UK

 The customer is identified by inserting a plastic ATM card with a magnetic stripe or a plastic smart card with a chip, that contains a unique card number and some security information such as an expiration date or CVV. Authentication is provided by the customer entering a Personal Identification Number (PIN).

 ATMs typically connect directly to their host or ATM Controller via either ADSL (Asymmetric digital subscriber line )or dial-up modem over a telephone line or directly via a leased line. Leased lines are preferable to POTS(Plain old telephone service) lines because they require less time to establish a connection. As high-speed Internet VPN (Virtual private network) connections become more ubiquitous. Common lower-level layer communication protocols used by ATMs to communicate back to the bank include SNA over SDLC, TCC50 over Async, X.25, and TCP/IP over Ethernet.

 In addition to methods employed for transaction security and secrecy, all communications traffic between the ATM and the Transaction Processor may also be encrypted via methods such as SSL(Secure Sockets Layer)

Uses :
Using an ATM, customers can access their bank accounts in order to make cash withdrawals, credit cash advances, and check their account balances as well as purchase If the currency being withdrawn from the ATM is different from that which the bank account is denominated in (e.g.: Withdrawing Japanese Yen from a bank account the money will be converted at a wholesale exchange rate.

 Deposit currency recognition, acceptance, and recycling. Paying routine bills, fees, and taxes (utilities, phone bills, social security, legal fees, taxes, etc.) Printing bank statements. Updating passbooks. Loading monetary value into stored value cards.

TYPES :
There are two types of ATM installations: On- and Off-premise. On-premise ATMs are typically more advanced, multi-function machines that complement a bank branch's capabilities, and are thus more expensive. Off-premise machines are deployed by financial institutions and Independent Sales Organizations (ISOs) where there is a simple need for cash, so they are generally cheaper mono-function devices.

NETWORKS :
Most ATMs are connected to interbank networks, enabling people to withdraw and deposit money from machines not belonging to the bank where they have their account or in the country where their accounts are held interbank networks include PLUS,PULSE,Cirrus,Interac, Interswitch,Cashnet. Indias first shared ATM network, Swadhan, was launched in 1997, in Mumbai, under the leadership of Indian Banks Association (IBA) ATMs rely on authorization of a financial transaction by the card issuer or other authorizing institution via the communications network. This is often performed through an ISO 8583.

 Euronet India was selected by the Institute for Development and Research in Banking Technology (IDRBT), the technology arm of RBI, to implement a National Financial Switch (NFS) in the country. NFS consists of both an integrated inter-ATM switch provided by Euronet India and an Internet & e-commerce payment gateway from Opus Software, which will act as an e-commerce facilitator to authenticate and route payment details between banks and various parties.

An ATM is typically made up of the following devices:

CPU (to control the user interface and transaction devices) Magnetic and/or Chip Card reader (to identify the customer) PIN Pad (similar in layout to a Touch Stoneor Calculator keypad), often manufactured as part of a secure enclosure. Secure Cryptoprocessor, generally within a secure enclosure. Display (used by the customer for performing the transaction)

 Function Key buttons (usually close to the display) or a Touchscreen (used to select the various aspects of the transaction) Record Printer (to provide the customer with a record of their transaction) Vault (to store the parts of the machinery requiring restricted access)

Mechanisms found inside the vault may include: Dispensing mechanism (to provide cash or other items of value) Deposit mechanism including a Check Processing Module and Bulk Note Acceptor (to allow the customer to make deposits) Security sensors (Magnetic, Thermal, Seismic, gas) Locks: (to ensure controlled access to the contents of the vault) Journaling systems; many are electronic (a sealed flash memory device based on proprietary standards) or a solidstate device (an actual printer) which accrues all records of activity including access timestamps, number of bills dispensed, etc.

Operating Platform:
Typical platforms previously used in ATM development include RMX or OS/2. Today the vast majority of ATMs worldwide use a Microsoft OS, primarily Windows XP Professional or Windows XP Embedded. A small number of deployments may still be running older versions such as Windows NT, Windows CE or Windows 2000. Linux is also finding some reception in the ATM marketplace.

SECURITY :
As with any device containing objects of value, ATMs and the systems they depend on to function are the targets of fraud. ATM behavior can change during what is called "standin" time, where the bank's cash dispensing network is unable to access databases that contain account information (possibly for database maintenance). In order to give customers access to cash, customers may be allowed to withdraw cash up to a certain amount that may be less than their usual daily withdrawal limit, but may still exceed the amount of available money in their account, which could result in fraud

 In an attempt to prevent criminals from shoulder surfing the customer's PINs, some banks draw privacy areas on the floor. Trapping the card inside of the ATM's card reader with a device often referred to as a Lebanese Loop. When the customer gets frustrated by not getting the card back and walks away from the machine, the criminal is able to remove the card and withdraw cash from the customer's account.

Quick Facts :
In what is reflective of banks' increasing thrust on using the cheaper automated teller machines ( ATM) channel for service delivery, nearly 19,000 ATMs were added last fiscal to the National Financial Switch. To make Dhanteras a successful celebration for his life in quest of fortune Rajesh Jethpuria bought an Automated Teller Machine (ATM) to become first citizen to own such a money storing machine, used by banks.

Credit, ATM and Debit Cards: What to do if They're Lost or Stolen ???
Report the loss or theft of your credit cards and your ATM or debit cards to the card issuers as quickly as possible. Many companies have toll-free numbers and 24-hour service to deal with such emergencies. It's a good idea to follow up your phone calls with a letter. Include your account number, when you noticed your card was missing, and the date you first reported the loss.

 If your ATM card is stuck, then try the following: a. Press the Cancel Button a few times to see if the ATM card comes out b. If it does - pick up your ATM card c. If it doesn't, inform the Security who would be waiting outside the ATM and ask him not to allow anyone inside for atleast the next 5 minutes and d. Call up customer care and inform them of the situation. They will block your ATM Card Usually cards that get stuck inside an ATM are stored inside specially designed vaults that are supposed to hold stuck or confiscated ATM Cards. The bank authorities will be able to get their hands on them and take appropriate action.

 Buying a Registration Service

For an annual fee, companies will notify the issuers of your credit card and your ATM or debit card accounts if your card is lost or stolen. This service allows you to make only one phone call to report all card losses rather than calling individual issuers. Most services also will request replacement cards on your behalf.