ATM Machines🏧A Brief History and Evolution of💲 Automated Teller Machines💵💰💳

An ATM (Automated Teller Machine) 💵💰💳🏧is a computerized device connected to a network which allows customers to access banking services such as cash withdrawal and account information without the need for a physical bank branch or a representative. The machine is programmed to read the magnetic stripe on a debit or credit card to verify a user's account💵💰💳🏧and requires a Personal Identification Number (PIN) for security purposes. Once authenticated,💵💰💳🏧 customers can perform a range of banking transactions, such as cash withdrawals,💵💰💳🏧deposits, funds transfer, balance inquiries, and bill payments. While most ATMs are owned by banks, there are also independent ATM operators,💵💰💳🏧 who offer these services to banks and retailers, and generate profits by charging transaction fees to customers.💵💰💳🏧ATMs have become ubiquitous around the world, providing a convenient and flexible banking experience for customers of varying financial needs.💵💰💳🏧

ATMs are owned either by financial institutions such as banks or third-party operators who provide ATM services to individual banks or retailers. In many cases, banks own and operate ATMs as a means of providing convenient access to cash and other banking services for their customers.💵💰💳🏧 However, there are also independent ATM operators who purchase and install ATMs at third-party locations such as malls, supermarkets, and gas stations. These third-party operators make money by charging fees to customers who use the ATM for their services on behalf of the bank that issued the card.💵💰💳🏧

ATMs can be placed at any location but are most often placed near or inside banks, shopping centers/malls, airports, railway stations, metro stations, grocery stores, petrol/gas stations, restaurants, and other locations.💵💰💳🏧 ATMs are also found on cruise ships and on some US Navy ships, where sailors can draw out their pay.💵💰💳🏧

ATMs may be on- and off-premises. On-premises ATMs are typically more advanced, multi-function machines that complement a bank branch's capabilities, and are thus more expensive.💵💰💳🏧 Off-premises machines are deployed by financial institutions where there is a simple need for cash, so they are generally cheaper single-function devices. Independent ATM deployers unaffiliated with banks install and maintain white-label ATMs.

In the US, Canada and some Gulf countries,💵💰💳🏧 banks may have drive-thru lanes providing access to ATMs using an automobile.💵💰💳🏧

In recent times, countries like India and some countries in Africa are installing solar-powered ATMs in rural areas.💵💰💳🏧

The world's highest ATM is located at the Khunjerab Pass in Pakistan. Installed at an elevation of 4,693 metres (15,397 ft) by the National Bank of Pakistan, it is designed to work in temperatures as low as -40-degree Celsius💵💰💳🏧

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 accounts or in the countries where their accounts are held (enabling cash withdrawals in local currency).

An ATM is typically made up of the following devices:💵💰💳🏧

CPU (to control the user interface and transaction devices)
Magnetic or chip card reader (to identify the customer)💵💰💳🏧
a PIN pad for accepting and encrypting personal identification number EPP4 (similar in layout to a touch tone or calculator keypad), 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 the transaction)
Vault (to store the parts of the machinery requiring restricted access)
Housing (for aesthetics and to attach signage to)
Sensors and indicators💵💰💳🏧
Due to heavier computing demands and the falling price of personal computer–like architectures, ATMs have moved away from custom hardware architectures using microcontrollers or application-specific integrated circuits and have adopted the hardware architecture of a personal computer, such as USB connections for peripherals, Ethernet and IP communications, and use personal computer operating systems.
Mechanisms found inside the vault may include:💵💰💳🏧

Dispensing mechanism (to provide cash or other items of value)
Deposit mechanism including a cheque processing module and bulk note acceptor (to allow the customer to make deposits)💵💰💳🏧
Security sensors (magnetic, thermal, seismic, gas)
Locks (to control access to the contents of the vault)


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