ATM
From Halbeeg, the open encyclopedia · Af-Soomaali
1 languages
An ATM (Automated Teller Machine) is an electronic device that enables bank customers to withdraw money from their accounts, check account balances, and access other banking services without the presence of a bank employee. The customer uses a card (a bank card or debit card) and a secret number called a PIN (personal identification number).
The machine is connected to the payment networks of banks. When a customer enters a command, the machine sends a request to the bank's system to verify the customer's identity and confirm that the account has sufficient funds. If approved, the machine dispenses the cash and deducts the amount from the account.
How it is constructed
A typical ATM contains a card reader, a screen and buttons (or touchscreen), a secure cash storage box, a cash dispenser mechanism, and in some cases a receipt printer. Cameras and counterfeit detection equipment may also be installed. Some machines accept cash deposits (deposits), which require equipment to verify the denominations of banknotes.
Security
The PIN is encrypted while in transit over the network. Common threats include "skimming," in which a hidden device is placed on the card reader to capture data from the magnetic stripe, and small cameras positioned to record the PIN. Banks defend against these threats by using chip cards, setting daily withdrawal limits, and using systems that detect unusual transactions.
Networks and services
Global networks—such as those of Visa and Mastercard—allow a customer to use his card at an ATM operated by another bank or in another country. In such cases, a service fee is typically charged between the issuing bank and the bank operating the machine, and exchange rates are also applied.
Somalia and mobile money
In many African countries, including Somalia, mobile money services have taken a significant share of functions traditionally performed by ATMs, particularly money transfers and bill payments. ATMs are found at bank branches in major cities, but their number and availability are limited compared to countries with more developed banking systems.