Report On ATM
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INTRODUCTION
An Automated Teller Machine (ATM) allows customers to perform banking transactions anywhere and at anytime without the need of human teller. By using a debit or ATM card at an ATM, individuals can withdraw cash from checking or savings accounts, make a deposit or transfer money from one account to another or perform other functions. You can also get cash advances using a credit card at an ATM. Individuals should be aware that many banks charge transaction fees – generally ranging from Rs 50-150 per transaction -for using another bank’s ATM.
The ATM is online with the bank, that is, each transaction will be authorized by the bank on-demand and directly debited from the account's owner. The ATM works as follows. First, the client will insert his/her client card in the ATM and then the ATM will ask for a Personal Identification Number (PIN) , if the number is entered incorrectly several times in a row, most ATMs will retain the card as a security precaution to prevent an unauthorized user from working out the PIN by pure guesswork. Once the correct PIN is given, the ATM will ask for the amount of money to be withdrawn. If the amount is available and if the client has enough money on his credit then the said amount of money will be paid. Whether the amount of money is payable or not, i.e. the ATM has enough cash but could be the case the ATM has no change for that amount, will be also checked. Once the money is offered to the client a countdown is started, i.e. the client has a determined amount of time to pick up the money. If this timeout is over, the money will be collected by the ATM and the transaction will be rolled back.
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PROJECT REPORT ON SOFTWARE FOR IMPLEMENTATION OF ATM INTRODUCTION
An Automated Teller Machine (ATM) allows customers to perform banking transactions anywhere and at anytime without the need of human teller. By using a debit or ATM card at an ATM, individuals can withdraw cash from checking or savings accounts, make a deposit or transfer money from one account to another or perform other functions. You can also get cash advances using a credit card at an ATM. Individuals should be aware that many banks charge transaction fees – generally ranging from Rs 50-150 per transaction -for using another bank’s ATM.
The ATM is online with the bank, that is, each transaction will be authorized by the bank on-demand and directly debited from the account's owner. The ATM works as follows. First, the client will insert his/her client card in the ATM and then the ATM will ask for a Personal Identification Number (PIN) , if the number is entered incorrectly several times in a row, most ATMs will retain the card as a security precaution to prevent an unauthorized user from working out the PIN by pure guesswork. Once the correct PIN is given, the ATM will ask for the amount of money to be withdrawn. If the amount is available and if the client has enough money on his credit then the said amount of money will be paid. Whether the amount of money is payable or not, i.e. the ATM has enough cash but could be the case the ATM has no change for that amount, will be also checked. Once the money is offered to the client a countdown is started, i.e. the client has a determined amount of time to pick up the money. If this timeout is over, the money will be collected by the ATM and the transaction will be rolled back.
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