Nobody downloaded yet


Comments (0) Cite this document
ATMs have been on the increase in the number of ATMs across Africa and the world as a whole consequently probing questions into problems that come with them and their needs. It, therefore, is important to look at some of these problems and attempt to offer solutions for the…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.2% of users find it useful
Read TextPreview


Download file to see previous pages Haag Cummings and Rea(2004) state that Automated teller machines are electronic telecommunications device that enables the clients seeking the transactions of a financial institution to perform financial transactions (Cummings et al., 2004). It achieves this without the need for human cashier, clerk or bank teller. According to Anand (2006), ATM is a banking terminal capable of linking customers with 24 hours deposit and withdrawal services for the clients at any time (Anand, 2006). The ATMs or cash dispenser devices are installed in the bank halls and spread across the city or specific locations for convenience of the customer. They mechanically accept deposits; give withdrawals, transfer funds between varied accounts and issue bills.
Over the past years, many people have tried to claim that they are the investor of the ATM; others believe that Luther George Simjian is documented to be an inventor due to his idea that came first. Some believe it was Don Wetzel, some other people say the inventor is John Shepherd-Barron. In the late 1930’s, Luther George Simian tried to build an ATM but it was not a successful version of ATM. The author did not register related patents; initially designed with the idea of creating a hole in the wall. It was allowing customers to make financial transitions without going to the bank.
However according to BBC London (27 June 2007), on the topic Enfield’s cash gift to the world indicated that the first of these that decided to roll out the technology was the Barclays bank. It is located in Enfield town towards the northern part of London,in the United Kingdom on 27 June 1967. The machine was the first in the world. English comedy actor Reg was the first person who made use of the ATM (BBC, 2007).
The art of linking the different ATM devices to a central computer is a common occurrence at the moment. The idea came into reality when the world wide web and the internet were rolled out. Banks keep databases of ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“AUTOMATED TELLER MACHINE (ATM) Term Paper Example | Topics and Well Written Essays - 2000 words”, n.d.)
AUTOMATED TELLER MACHINE (ATM) Term Paper Example | Topics and Well Written Essays - 2000 words. Retrieved from
(AUTOMATED TELLER MACHINE (ATM) Term Paper Example | Topics and Well Written Essays - 2000 Words)
AUTOMATED TELLER MACHINE (ATM) Term Paper Example | Topics and Well Written Essays - 2000 Words.
“AUTOMATED TELLER MACHINE (ATM) Term Paper Example | Topics and Well Written Essays - 2000 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


VoFR, VoIP and ATM

...Summary Frame relay, IP and ATM are the three technologies based on 'Packet Switching'. Packet switching is in contrast to the 'Public Switched Telephone Network' (PSTN) which is a 'Circuit Switching' based technology. In case of packet switching the data that flows through the networks is in the form of small packets whereas circuit switching technology offers to transmit analog signals. In the present age of information technology it has become a need of the day to integrate data and voice. Major companies having very large networks want to reduce the running cost of their networks. Instead of having two networks, one for data and one for voice, they want to carry voice over their data networks thus enjoying both...
10 Pages(2500 words)Essay

Automatic Teller Machine

...ATM is a blessing in modern age. With the advent of modern ATM machines, people do not need to carry cash with them all the time. Instead, whenever required, they can just walk to a self service information system and make the transaction using a plastic card only. A powerful real time database and information system work behind the scene to take care of all the required accounting and fund settlement. Key Processes in an ATM System Some of the key elements that make up an ATM system include: Input Processing Output Feedback Figure: A typical ATM System Source: Input Function In order to...
2 Pages(500 words)Essay

An Automated External Defibrillator

...An Automated External Defibrillator 2006 Outline: A) An Automated External Defibrillator. Legal issues of its use. C) Ethical issues concerning resuscitation. D) Beneficence of an Automated External Defibrillator. Each year over 150,000 UK people die from cardiac arrests. (Cardio Pulmonary Resuscitation) From 80s the problem was addressed with Automated External Defibrillators (AEDs) which could interpret heart rhythm and deliver a defibrillation shock. Now AEDs are placed in public locations - airplanes, airports, shopping malls, stadiums, casinos, exercise facilities, office buildings. AEDs are used by not only paramedics but primarily police officers, firefighters and other trained personnel. (Eisenberg & Mengert, 2001... ) The...
2 Pages(500 words)Essay

Automatic teller machine

...Assignment This assignment is based around the use of an automatic teller machine. The objective of the assignment is to answer a series of questions regarding the ATM machine. Herein, the questions and answers and opportunities for improvement are listed. The first question asks how much money one is allowed to take out. This, of course, depends upon the limit set forth by the bank and is often set up when the account is first established by the cardholder. Typically, it is $500 or so. That seems to be the most popular figure. The second question deals with, if you were to take the $500 out of one machine and then go to another, what would...
4 Pages(1000 words)Essay

Automated accounting presentation

...Executive Summary Most – if not all – growing companies can attest to the necessity of the automation of their systems. Mounting numbers of transactions are better dealt with when efficient, automated systems are in place. The case of a homeowners’ association whose members are due to increase from 150 to 650 illustrates the advantages that automation brings as well as the limitations that go with it. This paper cites the reasons why the homeowners’ association should opt for automated systems not only for its billing and collection processes but for its payment and reporting procedures, as well. The advantages and benefits of automation are briefly...
7 Pages(1750 words)Term Paper

ATM network

...there is a communication error during transmission, a package of data being transmitted can easily be corrupted (William 36). This would force a retransmission of the whole package. These incidences can be reduced through data fragmentation IP-packet loss rate Taking ‘n’ to be the number of cells required to transmit a single IP datagram, we can form an expression of the cell loss rate in the ATM network (PC) as the ratio of nc (number of cells corrupted) to n (the number of cells required to transmit a single IP datagram). The IP-packet loss rate (PP), would therefore be the ratio of corrupted packets to all received packets. The IP-packet loss rate depends heavily on the success of the transmitted packets, and this...
1 Pages(250 words)Essay

McDonaldization of Society

..., there are various examples of McDonaldization. The company reduces its workforce by shifting some of the task to the consumer. There are several examples of these incidences, which include automated teller machine (ATM) and pump stations. These facilities have reduced employees that an entity employs by passing some duties to the consumer. Using an ATM requires the consumer to undertake numerous tasks of keying pin, queuing and following a lengthy procedure to access money while the organization reduces its employee levels. Additionally, it increases efficiency thus, incurring lower overheads. In pump stations, consumers pay and pump gas by themselves....
2 Pages(500 words)Term Paper

Hiring a Bank Teller

...and their requisite consideration hinges upon the letter of the law with regards to whether Anna could ultimately represent the “skill” and “job related requirements” that the teller position required. Although Dave found himself in a difficult situation, and ultimately asked an illegal interview question, the fact of the matter was that he was ultimately unsure if she would be able to live up to the job related requirements that Dave required of all his bank tellers. 4. How can expense and cost be a variable when considering “reasonable accommodation” In a word, Yes. If the employer is able to show that he/she cannot provide the accommodations that the individual requires because the cost of doing...
2 Pages(500 words)Assignment

ATM Skimmers

...ATM Skimmers ATM skimming entails theft of car information, which is utilized in otherwise legal financial transactions. The person stealing the ATM card information is referred to as ATM skimmer. The thief can obtain the victims TMN or card details through crime methods like photocopying transaction receipts, or advance methods like utilizing electronic gadgets to swipe and obtain data on the ATM card transactions (Hassibi, 2010). Skimming exercise is normally done through the ATM (Automated teller Machine). The criminal installs an electronic device over the card slot of the...
1 Pages(250 words)Article

Machine-to-Machine Communication

...Machine-to-Machine Communication Disruptive technology is basically a replacement of an old technology by an innovation that creates new market value for products or services. Adoption of disruptive technology can be either risky or profitable venture. By using a technology in its early stage can enable one to establish new markets but can also become vulnerable to unforeseen risks. The key lies in choosing the correct time to enter the market (Evans, 10). Disruptive technology can change the structure of an industry by replacing traditional values with new values. It can encourage corporate planners to embark in new avenues for their organizations (Evans, 8). RFID One example of disruptive technology...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic AUTOMATED TELLER MACHINE (ATM) for FREE!

Contact Us