Automatic teller machine - Essay Example

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 happen? You would most likely get a message that your daily limit had been exceeded. You would most likely have to wait until 24 hours had passed to withdraw money. The third question asks what is on my card. There is my name, the Visa logo, my 16-digit card number, and the three-letter code on the back. In addition, there is a background I chose. The fourth question asks how the information is used. The name is used to verify identity, the 16-digit card number is used to access the account, and the three-digit code is sometimes used for further verification. The fifth question asks what happens when the wrong card number is used. If the wrong card number is used, the transaction is canceled. If it is the wrong pin number, the machine will ask you to re-enter the pin number. The sixth question asks why there are pauses between the steps of a transaction. This could be for a number of reasons. To name a few, the machine could be counting money or verifying information from the card. Pauses do not just happen with people at the realm. The seventh question asks how long the pauses are. They are usually a few seconds unless there is a problem such as the machine is having trouble accessing the account or verifying information. In that case, the card will likely be returned to the cardholder. The eighth question asks what happens if you type ahead of the pauses. This could cause the machine to lock up or produce longer pauses. It certainly will not go any faster. It could even cause the machine to lock up, causing even further problems for the cardholder. The ninth question asked what happens to the card in the machine. It is being read, analyzed, and verified to determine if there are enough funds to dispense as requested. If there are, money will be dispensed; if not the card will be returned to the cardholder. The tenth question regards why the card stays in the machine. The reason is that it needs time to process. The machine wants to hang on to the card until all of the above is verified. The eleventh question deals with whether or not I count the money when it comes out of the machine. The answer is, unfortunately, no. I should make a habit of this in the future just in case. The next question deals with asking two other people the same set of questions. The answers were very similar to mine, although these people did not seem to understand why the card stays in the machine and why there are pauses between transactions. Otherwise, it was a complete match. The analysis of the answer is that different people use different ATMs and have different results. No two are alike. They have different pauses, some spit the card right back out, and so forth. This dictates how accurate people’s mental models of the way ATMs work. The ATMs they used were critically like mine, so there was little transparency. One problem I found with the ATM was that I have used another ATM that was far more efficient and had a lot more features. It was called the VCom and it was test marketed in Orlando. With this machine, one could cash checks, withdraw money, send or receive Western Union, and much more. If all ATMs had those capabilities, I believe life would be much easier for the cardholder. In fact, I cannot wait until these machines spread throughout the nation. Another problem that I found with the machine was the awkward pauses in between transactions. This was particularly problematic while the machine was counting money. I recommend that ATMs become more like the VCom in the future. So much more can be done with much less effort. Plus, many errands can be run in the same stop, saving time and trouble. The ATM I would recommend for the future would be similar to the VCom. The VCom has its own problems, however, that would need to be worked out. First of all, the pauses are longer. Second of all, you have to register to cash checks and, thus, are on hold for an extended period of time. Sometimes the VCom will not cash your check and you have to get on the phone with the representative, which takes up more valuable time. Also, Western Union does not work after certain hours, and it should work 24 hours per day. Sometimes, the VCom locations do not work at all and you have to go to another location. Regardless, with the problems that the VCom presents, it is still much better than the standard ATM. There is so much more that can be done. Improvements I would make to the machine would be to have more regular maintenance to ensure working machines, less pauses, less necessity to get on the phone with a representative, better hours for Western Union, and less check rejection for check cashers. This would be a definite improvement over the standard ATM machine because you can do much more in one stop. Also, store hours where one would normally cash a check do not apply. You can cash a check in the middle of the night if you want to with little effort. Read More