08-16-2017, 09:21 PM
It was introduced in 1959 to encourage self-service retail banking. This causes people to deposit, withdraw and transfer the amount without the help of bank personnels and can be done anytime and anywhere. At the outset, the ATM was made to tansact for particular bank customers, but later the ATMs are connected to the inter-bank network, so it allows people to deposit, withdraw and transfer the number of ATMs that Do not belong to that particular bank, Anyone can access any bank ATM to carry out their transactions. ATMs depend on the authorization of a financial transaction by the card issuer or other authorizing entity through the communication network. This is often done through an ISO 8583 message system. Many bank ATM usage fees for clients for transactions. At present, each customer has an individual ATM card for each of the banks in which he maintains his account. So handle the cards, your passwords play an important role here. To overcome these difficulties, we incorporate more than one user's bank account into a single ATM smart card, so that the user can slide the card and select the bank of which he is interested to carry out the transaction. 2 EXISTING SYSTEM An ATM or ATM is an electronic device that allows bank customers to make cash withdrawals and review their account balances without the need for a cash machine. Many ATMs also allow people to deposit cash or checks, transfer money between their bank accounts, recharge their prepaid mobile phones or even buy postage stamps. In most modern ATMs, the customer is identified by inserting a plastic card with a magnetic stripe or a plastic smart card with a chip that contains their account number. The customer then verifies their identity by entering an access code (that is, a four-digit personal identification number (PIN). If the number is entered incorrectly several consecutive times (usually three), most ATMs will keep The card as a precautionary measure to prevent an unauthorized user form from discovering the PIN by guessing and so on.There is also a limitation on the transaction for the other bank customers in using the ATM from some other bank that crosses The limit they have to pay transaction fees.